The Multimedia Development Corp (MDeC) hopes the government would further intensify the development of local entrepreneurs through the allocation of sufficient funds under Budget 2014.

Chief Executive Officer Datuk Badlisham Ghazali exressed confidence the government would continue supporting entrepreneurs in the information and communications technology sector, given Prime Minister Datuk Seri Najib Tun Razak’s recent visit to Silicon Valley in California, home to many of the world’s biggest high-technology firms.

“But we want to see the budget allocation is not just to promote entrepreneurs in the country, but also to develop them into global champions,” he told reporters on the sidelines of the MSC Malaysia APICTA awards 2013 Monday.

Najib announced in Budget 2013 that a RM1 billion Bumiputera Financing Fund would be made available by SME Bank to finance local small and medium entrepreneurs’ (SMEs) takeover of subsidiaries of government-linked companies (GLCs) which undertake non-core activities.

Furthermore, under the National Entrepreneurial Group Economic Fund (Tekun Nasional), the government has allocated RM350 million, of which RM50 million has been apportioned for the Indian community.

The government had also established the Intellectual Property Financing Fund Scheme worth RM200 million to enable SMEs expand their businesses by using intellectual property rights as collateral to obtain financing, offered through Malaysian Debt Ventures Bhd.