Astro Awani: RM100 Million in Funds Announced for the Technology Start-ups Funding Relief Facility (TSFRF) Funding - Our CEO Joachim Sebastian Shares His Thoughts
The Malaysian Government announces the funding of RM100 million to help startups get back on their feet through the TSFRF Funding by Malaysia Debt Ventures (MDV).
9 May 2020
As part of the government's plan to reconstruct the economy during and through this pandemic, three key initiatives were announced yesterday by the Ministry of Science, Technology, and Innovation (MOSTI) - one of which will be RM100 million in low interest loans to be handled by MDV, to aid startups. The news was well received by startups, including Everpeaks' very own CEO, Joachim Sebastian.
"Prior to this, startups don't usually qualify for traditional funding such as this. Therefore, an alternative funding and equity mechanism is essential in helping (us) stay afloat during this COVID-19 pandemic," Joachim said.
ScaleUp Malaysia co-founder Aaron Sharma also weighed in, saying that as a body of growth for the ecommerce ecosystem, they hope to continue being in discussion with MOSTI, while being able to provide the necessary support for startups. Veteran entrepreneur and another ScaleUp co-founder Dr. Sivapalan Vivekarajah also shared the same sentiment, and believes that the entire ecosystem needs to move together as a unit, working hand-in-hand to create collaborations, and not just rely on the government for help.
The TSFRF will be launched on the 15th of May, and will be open to application by all tech startups. More info on the TSFRF can be found here.
To read the full write up by Astro Awani, click on the link below.
Everpeaks is a fast-growing multi-channel ecommerce consulting company, founded in 2016 by Joachim, and his two partners Andri and Sam. Over a span of four years, Everpeaks has developed strong partnerships with eBay, Amazon, and Payoneer, becoming the only eBay Channel Partner in Malaysia, the only Amazon Service Provider Network in Southeast Asia, and a Payoneer Community Partner. We have also secured associative relationships with the Malaysian government as an eAggregator, and a National Ecommerce Strategic Roadmap (NESR) partner of the Malaysian Digital Economy Corporation (MDEC). Everpeaks was also selected as a top 20 finalist of the ScaleUp programme by Proficeo.
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