Govt grants available for cottage industries

MALACCA: The Ministry of Science, Technology and Innovation plays a pivotal role in encouraging Malaysians to embark in cottage industries which will accentuate their monthly family income.
Its Deputy Minister Datuk Dr Abu Bakar Mohamad Diah (pix) said the ministry is willing to help families who are interested to venture into such businesses.
"BiotechCorp, under the ministry, is responsible for executing the objectives of the National Biotechnology Policy (NBP) and acts to identify value propositions in research and development and commerce and support these ventures via financial assistance and developmental services.
He said BiotechCorp's key mandates are to: act as a one-stop-centre; nurture and accelerate growth of Malaysian biotechnology companies; actively promote foreign direct investments in biotechnology; and create a conducive environment for biotechnology.
Abu Bakar said an initiative by BiotechCorp supports the needs of Malaysia's life sciences industry for high-end research facilities, infrastructure and capabilities.
"Those interested to venture into the crayfish business or any other businesses must apply for the BioNexus status by getting in touch with BioTechCorp. Once they have discussed their proposed biotechnology businesses and activities, they will be informed of the BioNexus eligibility criteria as well as associated benefits and incentives," he said, adding that those interested can complete details via the online BioNexus pre-application form.
Abu Bakar said once the application is processed and approved, a matching grant will be given.
He said some RM100 million has been allocated to be given away to those interested in cottage industry businesses such as fish and prawn products.