KUALA LUMPUR: Iskandar Investment Bhd (IIB) and Malaysia Debt Ventures Bhd (MDV) have signed a memorandum of understanding (MoU) to promote the growth and development of technology companies and startups in Medini and Johor.
IIB and MDV will work together to introduce and promote MDV's specialised financing solutions to IIB's ecosystem partners that are looking to scale up.
IIB, in a statement, said both companies were hoping to attract and retain tech-talent as well as boost economic development by improving access to funding and fostering partnerships.
IIB president and chief executive officer Datuk Idzham Mohd Hashim said the leverage on MDV's expertise and specialised financing solutions can foster a vibrant innovation ecosystem and support the growth of start-ups.
"We are pleased to partner MDV in this significant collaboration, which aims to provide improved access to funding for technology companies and startups in Medini and Johor. This partnership exemplifies our commitment to driving economic development and enhancing Medini's position as Johor's digital and innovation hub," he added.
MDV chief executive officer Nizam Mohamed Nadzri said its experience of more than two decades had given MDV an insight and ability to better understand the unique funding requirements of technology companies and startups.
"Through our flexible financing programmes and strategic partnerships within the IIB ecosystem network, we aim to fuel innovation and entrepreneurship in the region. We believe that Johor is a key growth driver for the technology sector in Malaysia and we are pleased to partner with IIB for this venture," said Nizam.