01 Feb 2013
MyCreative Ventures launched in Malaysia
MyCreative Ventures is an investment mechanism launched by the Malaysian government intended to boost the attractiveness of Malaysia's creative industry by job creation and to increase gross income from the creative industries. It is a Malaysian Government investment arm investing is potential businesses in the creative industry with an initial fund from the Government of RM200 million.
- MyCreative is a government investment arm to spur Malaysia’s creative industry via strategic and innovative funding in a form of equity or debt investments.
- Aspired by Prime Minister Y.A.B Dato’ Seri Najib Razak during the announcement of the RM200 million fund out of 2012 budget to be dedicated for this purpose, MyCreative was incorporated on 20 April 2012 under the Malaysian Companies Act, 1965 by the Minister of Finance Incorporated (‘MOF(Inc)’).
- MyCreative will invest via equities or loans from allocated funds in potential viable Malaysian creative businesses and is expected to achieve the following effects:
- Boost the attractiveness of Malaysia’s creative industry measurable by job creation.
- Increase gross income from Malaysia’s creative industry to significantly contribute to the country’s Gross Domestic Product (GDP).
- Elevate the status of Malaysia’s creative industry via public awareness and social impact.
Malaysian applicants within the defined creative industry categories can apply for grants and loans through the Pitchbox mechanism online.
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