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344725
Thu, 10/16/2014 - 12:12
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Clean Technology Industry In Malaysia Needs To Be Nurtured

KUALA LUMPUR, Oct 16 (Bernama) -- With its huge potential in Malaysia and globally, the Clean Technology Industry needs to be nurtured as it is still very new, says MIGHT Technology Sdn Bhd. Managing Director Abd Halim Mohd Bisri said entrepreneurs in this new technology needs further coaching and mentoring to build confidence and share their innovative ideas to be commercialised. He said for this reason, the Global Cleantech Innovation Programme (GCIP) was introduced in Malaysia this year and hosted by the Malaysian Industry-Government Group for High Technology (MIGHT), as an accelerator programme to nurture the growth of cleantech start-ups locally and spur innovations. The GCIP has been run by Cleantech Open in the United States since 1996, and the programme had been expanded globally, in collaboration with the Global Environment Facility and United Nation Industrial Development Organisation. Abd Halim said the programme provides entrepreneurs in growing economies with what they need, namely, training, mentoring and access to investors. He told reporters this at a media roundtable discussion in conjunction with the International Greentech & Eco Products Malaysia Conference 2014 here Thursday. MIGHT in a statement at the event said the investment in clean technology industries in developing countries is forecast to be about US$6.4 trillion and US$1.6 trillion would be made available to small and medium entrepreneurs, providing a great opportunity for Malaysia. According to MIGHT, the GCIP Malaysia will supplement existing initiatives to boost the Malaysian green technology industry, including the Green Technology Funding Scheme managed by the Malaysian Green Technology Corporation. Meanwhile, the President of the Malaysia Biomass Industries Confederation and a technical expert in green funding, Leong Kin Mun said entrepreneurs in green technology must establish and know the right contact to access green funding. He acknowledged that green funding in Malaysia, especially with financial institutions, is still very difficult. "Though the situation has improved, the banks still lack the knowledge to evaluate green technology and are strict in their requirements on track record. "This issue needs to be addressed further by the government to enable green entrepreneurs with viable and innovative projects to access funding," he said. --BERNAMA

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