MDEC partners seven ECF and P2P platforms to promote alternative financing to MSMEs for cash flow relief
KUALA LUMPUR, 9 April 2020 – The Malaysia Digital Economy Corporation (MDEC) today announced a partnership with seven crowdfunding operators to help entrepreneurs tide the economic challenges brought on by the COVID19 onslaught.
This is MDEC’s second funding facilitation initiative led by its Global Growth Acceleration Division, following its successful launch of Meet Your Match Malaysia, a virtual investor-matching initiative with KK Fund Pte. Ltd., which has drawn 90 global investors and 75 promising local startups that are in a quest to raise close to USD100 million in investments.
According to a recent survey by The Malaysian Global Innovation and Creativity Centre (MaGIC) involving 239 startups, 35.1% of the respondents said they needed loans, 23.8% asked for grants or subsidies and 3.8% asked for deferment in repayments.
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