The so-called Ministry for Entrepreneur Development And Co-operatives (MEDAC) set up by the PH government in 2018 saw some brutal management changes shortly after the backdoor coup was staged early last year.
MEDAC last year received a budget of some RM320 million, all of which was purportedly spent on deserving local entrepreneurs. However, certain insiders have described the ministry as a nice source of ‘easy money’ for well-connected individuals who know how to work the system to obtain substantial grants from public money.
“Politicians leverage their opportunities and get friends to go and ask for grants” opines one such disenchanted source.
IP the way to go for SME entrepreneurs
April 26, 2021
This article is in conjunction with World Intellectual Property Day which is observed on April 26 annually. In Malaysia, the national theme for the day this year is ‘IP & SMEs: Taking Your Ideas to Market’.
KUALA LUMPUR – Every business is sparked by an idea, and the reality is that the millions of small and medium enterprises (SMEs) operating around the world always start their day with new business ideas and bringing them to the marketplace.
And so, World Intellectual Property Day is observed for us to learn more about how these ideas can be converted into intellectual property (IP), in addition to understanding the important role that IP plays in driving innovation and the creativity of a business.