Funding for creative ventures

Kota Kinabalu: Funding opportunities for creative industries are at your disposal, according to MyCreative Ventures Sdn Bhd (MyCreative). Speaking to more than 80 creative industry players in Sabah recently, MyCreative Chief Executive Officer, Johan Ishak said MyCreative is a government investment arm to spur Malaysia's creative industry via strategic and innovative funding in a form of equity or debt investments."MyCreative will invest via equities or give out loans from the allocated RM200 million funds to potential viable Malaysian creative businesses. This initiative is expected to boost the attractiveness and increase the gross income of the Malaysian creative industry," he said in his talk.

For elevating the creative industries, the allocation was announced by Prime Minister Dato' Seri Najib Razak when unveiling the 2012 budget. And MyCreative was incorporated on April 20, 2012 under the Malaysian Companies Act, 1965 by the Ministry of Finance Incorporated (MOF Inc).

Johan said MyCreative has received almost 300 applications from the creative community since its launch.

According to him, start-ups or established majority Malaysian-owned businesses operating under companies incorporated in Malaysia with minimum RM20,000 paid-up capital are eligible to apply for funds from MyCreative.

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However, the CEO made it clear that the business offerings must fall within the creative industry guided by the "Dasar Industri Kreatif Negara". Among them would be:

i. Visual Arts (examples, Paintings & Sculptures)

ii. Performing Arts (examples, Theatre & Dancing)

iii. Music (example, Recording Studios)

iv. Literature (example, Book Publisher)

v. Content Creation (examples, Cinematic/TV/Games/Animation)

vi. Fashion & Design (examples, Couture & Ready To Wear)

vii. Traditional/Cultural Arts (examples, Songket & Crafts)

Interested parties may apply by submitting their business proposal together with the application form via MyCreative's Pitchbox at www.mycreative.com.my.

"The business proposal should consist of a concept paper detailing the idea itself, service offerings, target market and other value propositions, as well as a five-year financial projection," Johan explained.

Apart from the applications through its official website, he said, MyCreative is also actively searching for potential applicants via initiatives such as roadshows and exhibitions. The latest initiative embarked on by MyCreative was 'Fashion Pitch 3', The Publishers and Starglitz.

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The talk was organised by MyCreative together with the Sabah Women Entrepreneurs & Professionals Association (Swepa), and supported by the State Ministry of Resource Development & Information Technology at Wisma Bandaraya, here. It was part of the activities under MyCreative Road Show in Sabah and Sarawak.

Also present were the President of Swepa, Datin Jeanette Tambakau, Immediate Past President, Hanaa Wong Abdullah, Chairperson of Ocean7 Art Gallery, Datin Sharifah Habsah Habib Alawi and Creative Director Dewina Saidin.

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Try 1 month for RM 18.00