If you are planning to start own business with new and creative idea then MSC Technopreneur Pre-Seed Fund may be a great chance for you. It is a good opportunity for you to become your own boss.
This fund is really helpful for those who have a good business idea in ICT field but do not have the capital and meanwhile do not want to apply loan from bank because they are not 100% confident in operating business. Through this program, you can get a fund up to RM150k and don’t need to pay back upon certain conditions!!! Existing companies are not eligible to apply.
I will share with you what I’ve heard from other people who attend the seminar held by the MSC Pre-Seed fund committee. They have learnt about how’s program work and also attended a talk given by success applicants of the fund.
What I Know About MSC Pre-Seed Fund?
– It require a lot of time, effort and paper works
– It is HARD to get approved! There is no such thing as free lunch. Some people had tried to submit and resubmit their business proposal 2-3 or may be 6-7 times. Nobody success at the first time this moment.
– You must have a solid and workable business plan. Simply bluffing business plan is useless. Just for your information, creating a website that earns income from AdSense will not qualify. They will look at your source of revenue, which in some form or product or service sale, technology licensing, etc.
– You must always seek advice from succeed applicants so that you won’t fail too many times.
However, now I’m seriously considering applying for this fund. It’s free money! The money will help you in venturing the new business and shorten the time to market. Also, I will go through some process and learn things that I never learned.
With this MDEC fund, you can have the human resources to help you, and research and development, and you also can get the necessary technology to assist in your business.
My Most Concern Issue
As everybody known, during the application and prototyping process, many will get to know each other and there is possibility of somebody copying your business idea. So will I lose confidentiality and competitiveness?
i’m considering this pre-seed fund too… may be i have to think now, because my plan to a business is by 2020.. hehe… you can join CEO Live@Studio V held by yourparttime.com… Sorry, i can’t post the full link here because if you activate Akismet plugin, it will block the comment with link…
hi Andalus, can you please send us the link at “contact” above. we are interested with this program you mention
i;m trying…
yourparttime.com/tcf/ceo.php
it works… i don’t put hxxp://www
start a new biz? cool leh..
but i duno what biz i want.. haha.. =P
to Andalus: u meant u plan to have business by year 2020? still long to go ler..why not now?
to kenwooi: then u should take some time sit down to think properly about your future..im sure all chinese like to have their own business…
now we are in 2nd half of the year 2009, it’s time for me to start my business d…
@david lee: i still study now, don’t have capital yet… and i want to gain experience first… but i want to make business proposal now..
btw, anyone is going to CEO Live@Studio V?? i still don’t have any confirmation from yourparttime.com yet that i’m accepted
Tried the fund before. And failed. 😛
No trying to sound racist but we chinese probably won’t stand a chance for this fund.
No disrespect Lim, but most of the applicants are indeed Chinese and Chinese stands a perfectly good chance of getting it.
So before you brush it off, maybe you should give it a try. You might just get 150K from the government 🙂
nice share, Thanks.
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dude, I applied for this fund and got it. They are not racist. Many Chinese got it and a fair amount of Indians got it too. Good idea and good business plan will definitely get this fund. It’s not as HARD as u think. I mean, everything takes effort right? I don’t know about the people who had to apply 6-7 times, maybe they didn’t fulfil the requirements. Good luck!! 🙂
Kannan,
Mind to share your experience on getting it???
Thanks
Kannan,
I also want to know how…. heard that it is dificult..huhu
They encourage ideas that can go global. The applicants should be competent to do the project. An exact/clear idea on how u will run the project. Must have 2 applicants for one fund. Primary and secondary applicant. Either one should be competent to carry the project. The other partner may focus on the business/management side of project. They do prefer projects that be successful even after 1 year of funding. A solid business I mean. But then, no one really knows the future right? So, as for me, with my confidence I assume I will be very successful and I presented that to them. Hope this helps.
Which part they will consider more for this, technical abilities or business potential or the uniqueness of the idea….he he , need more advice…
This is a very wonderful site and I would put it inside my bookmark, thank you. Regards, your reader.
I don
Dear sir, I love your blog and I am eager to know more about this issue, can you discuss with me more in PM?
The idea comes first. Then, technical abilities, if u can’t do it, then, do you have or know people who can do it(however, u should understand the work process of the technical side). Then, the business side is important, if u can’t make money out of it, then shouldn’t start your project as a business. Cos, to do this project, u must start a sdn bhd(they will fund u for this)
I think getting the pre-seed fund has its disadvantage. The proprietor might lose control of its IP and ownership of the company in some way. Does anyone agrees?
I agree. Anyway if you think about that, what could we do about that. The person who evaluate you also can copy the idea… If you realise, all the tiny idea actually can be materialise by big company overnight with all of the capacity they have. What i think is, just apply and hope that it will not be happen or register your IP first if you feel too worry about that.
GA is quite nice and it gives me a lot of money, but the rate is not very high.
“No trying to sound racist but we chinese probably won’t stand a chance for this fund.
”
FYI, 90% of pre-seed fund winners are Chinese. So Lim, please don’t start this “sound racist” thing because I believe you are a Chinese.
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