Kota Kinabalu: The Ministry of Entrepreneur and Cooperative Development is looking into potential collaboration with Shell Malaysia as one of its anchor companies under the Vendor Development Programme aimed at supporting local vendor businesses.
“The Ministry is actively seeking to expand our network of anchor companies with Shell Malaysia being a promising prospect,” said Datuk Ewon Benedick when officiating the Shell LiveWIRE 2024 National Award Ceremony, Saturday.
He said the Ministry is also exploring similar partnerships in Sabah and is currently in discussions with Sabah Electricity and Qhazanah Sabah to establish them as anchor companies.
He said currently, the Ministry had already established partnerships with 40 multinational companies, including Petronas, Tenaga, Perodua and Bank Rakyat, among others, through similar collaborative initiatives.
“Under the Vendor Development Programme, local vendors who secure contracts with these anchor companies would be eligible for financial support.
“Entrepreneurs can potentially receive grants up to RM1 million through the Vendor Development Programme with an additional capacity building grant of RM200,000 to enhance their business capabilities,” he said.
Earlier in his speech, he expressed gratitude to Shell Malaysia for their unwavering commitment to nurturing Malaysia’s entrepreneurship ecosystem through impactful initiatives like Shell LiveWIRE.
“This gathering of visionary leaders and trailblazers is a testament to the immense potential within our entrepreneurial community and it reflects the bright future we are building together.
“We, at the Ministry, are of the view that entrepreneurship is no longer confined to starting businesses. It is a way of thinking that can be applied across various sectors, including corporate innovation, social entrepreneurship and intrapreneurship within established companies and co-operatives.
“The focus is on fostering resilience, adaptability and the ability to navigate uncertainty,” he said.
He said the Ministry is entrusted by the Government to provide conducive and holistic entrepreneurship ecosystem for the acceleration of entrepreneurs’ and co-operatives’ business development.
“Building enduring companies and co-operatives that can evolve and sustain themselves through changing times has become a key focus.
“The National Entrepreneurship Policy 2030 (NEP 2030), which aims to transform Malaysia into an Entrepreneurial Nation by 2030, has outlined strategies and initiatives to ensure Malaysia reaches its aspiration of becoming an entrepreneurial nation in 2030,” he said.
He said the Malaysian start-up ecosystem continues to grow in relevance alongside the efforts made by the Ministry and its agencies to empower MSMEs.
“This year, a combination of strategic policies, funding allocations and collaborative programmes has enhanced opportunities for start-ups, particularly in emerging sectors like digital technology, renewable energy and fintech.
“The government’s focus on capacity building, export capabilities and business matching platforms further accelerates the start-up ecosystem’s development.
“These policies are tailored to ensure that start-ups and SMEs can scale efficiently, access global markets, and contribute to Malaysia’s broader economic transformation,” he said.
He said in addition, Malaysia’s start-up ecosystem benefits from initiatives by agencies under the Ministry that are helping local start-ups and new businesses tap into global trends and markets through partnerships with regional players and digital economy initiatives.
“These strategic initiatives not only foster the growth of Malaysia’s broader start up ecosystem but also directly empower the incredible entrepreneurs we are celebrating today.
“It is through these efforts that your entrepreneurial journeys are being supported and accelerated.
“However, the Ministry would not be able to reach and support all entrepreneurs without the invaluable collaboration of other government agencies, NGOs and corporations like Shell.
“It truly takes a village to build a thriving entrepreneurial ecosystem and I highly commend initiatives like Shell LiveWIRE for complementing and amplifying the government’s efforts to create a strong, sustainable entrepreneurship landscape in Malaysia.
“We recognise Shell LiveWIRE for its pivotal role in identifying, nurturing and promoting the talents of young, innovative entrepreneurs,” he said.
He said programmes such as Shell LiveWIRE not only empowers individuals to explore entrepreneurship as a viable career path but also inspire them to innovate and create lasting impact.
“Shell LiveWIRE’s success in fostering a supportive and collaborative ecosystem for entrepreneurs is a testament to the collective effort required to drive meaningful change.
“I applaud their continued commitment to cultivating the next generation of entrepreneurial leaders,” he said.
