With This New Govt Programme, Students Can Now Receive Funds To Start A Business

Student entrepreneurs will receive micro-credit financing through this initiative.

Cover image via Malaysia Students & Bench Accounting (Unsplash)

This Spotlight is sponsored by the Ministry of Higher Education Malaysia.

There is no denying that starting your own business can be an arduous and complicated process, especially when it comes to finances

While a variety of financial assistance is readily available for those who are employed and are earning a steady income, the same cannot be said for students.

These budding entrepreneurs are faced with numerous difficulties in trying to obtain financial or credit assistance, which often leads their dreams of becoming a full-fledged entrepreneur to a dead-end. 

That is why the Ministry of Higher Education (MOHE) has decided to ease the burdens of these graduates with the launch of the KPT-MEDAC Siswapreneur programme with an allocation of RM20 million. 

The KPT-MEDAC Siswapreneur programme is a collaboration between MOHE and the Ministry of Entrepreneur Development and Cooperatives (MEDAC)

What's great about this initiative is that micro-credit financing will be offered to student entrepreneurs through TEKUN Nasional. 

This spells good news for young entrepreneurs, as they will be able to start and grow their own businesses while still studying. This is also in line with reducing the students' financial burden while increasing the number of graduate entrepreneurs.  

On 26 November, a Memorandum of Understanding (MoU) was officially signed between MOHE and MEDAC, to mark this momentous collaboration

The signing was witnessed by the Minister of Higher Education, YB Datuk Seri Dr. Noraini Ahmad and the Minister of MEDAC, YB Dato’ Sri Dr. Hj. Wan Junaidi Tuanku Jaafar.

In a statement during the press conference, the Minister of Higher Education YB Datuk Seri Dr. Noraini Ahmad hopes the launch of this programme would help ease the financial burdens of student entrepreneurs.

"Thus, I encourage all students to seize this opportunity that lies before you.

"Hopefully this will increase the emergence of student entrepreneurs, and our goal to make Malaysia an entrepreneurial nation will become reality," she added.

The pilot KPT-MEDAC Siswapreneur programme will first be implemented at 15 selected higher education institutions (HEIs) for the first six months before being extended to other HEIs

Among the HEIs involved are four public universities and eleven polytechnics and community colleges, namely:

- Universiti Malaysia Sarawak (UNIMAS)

- Universiti Sultan Zainal Abidin (UniSZA)

- Universiti Tun Hussein Onn Malaysia (UTHM)

- Universiti Malaysia Perlis (UNIMAP)

- Politeknik Sultan Abdul Halim Mu’adzam Shah (POLIMAS)

- Politeknik Sultan Azlan Shah (PSAS)

- Politeknik Sultan Haji Ahmad Shah (POLISAS)

- Politeknik Sandakan Sabah (PSS)

- Politeknik Ungku Omar (PUO)

- Politeknik Kuching, Sarawak (PKS)

- Kolej Komuniti Baling

- Kolej Komuniti Kok Lanas

- Kolej Komuniti Arau

- Kolej Komuniti Manjung

- Kolej Komuniti Masjid Tanah

If your university or college is listed above, you can now send in your application for the KPT-MEDAC Siswapreneur programme through your institution!  

Your financing application will be screened through by your institution's respective entrepreneurial division/unit before being submitted to TEKUN Nasional for approval.

Find out more about KPT-MEDAC Siswapreneur at MOHE's website here

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