Government Reviewing Funding Structure For Creative Ideas, Innovations

**Admin** Wed Apr 06, 2011 4:03 am

KUALA LUMPUR, March 24 (Bernama) -- The government is reviewing the funding structure for the creative industries to obtain cash to set up their ventures.

"We want to have a society in Malaysia where anyone with a good idea and potential is not left behind just because of the lack of funds and contacts," said Minister in the Prime Minister's Department, Tan Sri Nor Mohamed Yakcop.

"We are looking into the whole funding structure to enable these type of ventures to get fundings easily, and when you have a good idea, the whole world should conspire to help you to be successful," he said at the concurrent five product launches in conjunction with the inaugural NEF-AWANI ICT Fair.

He did not deny that currently, financial institutions may prefer to provide fundings for brick and mortar setups rather than ideas.

Five companies from the ICT sector launched their products today, showcasing productivity improving software and also children inspired animations.

"Going forward, the world is not going to be the world of manufacturing but a world of knowledge, innovation, productivity and creativity.

"ICT is going to be a key element to bring improved productivity to the nation, and also open up opportunities for knowledge-based jobs to be in the market," he said.

Organised by the Malaysian Association of Bumiputera ICT Industry & Entrepreneurs (NEF), the ICT Fair will feature local ICT solutions along with creative contents and productions.