KUALA LUMPUR: MyCreative Ventures Sdn Bhd has launched the Social Enterprise Fund to support creative social enterprises through targeted financing and capacity development.
The government-owned investment company opened the fund yesterday to strengthen creative entrepreneurs while delivering measurable social and environmental benefits.
The fund is divided into two tiers with different funding structures and eligibility requirements.
The Early Stage tier offers grants of up to one hundred thousand ringgit for enterprises operating actively between one and three years.
The Growth Stage provides up to one million ringgit in funding structured as 8% revenue-sharing and 20% grant.
Growth Stage funding is available for enterprises with more than five years of operations.
Applicants must be legally registered businesses with the Companies Commission of Malaysia.
Businesses must have been operating for at least one year and must not be bankrupt or blacklisted.
Proposals must include comprehensive documentation covering company details and financial information.
Applications must also include project data usage and relevant industry background according to MyCreative.
Further information including guidelines and application checklists is available at the company website. – Bernama