KUALA LUMPUR: A RM100 million fund for biotechnology companies to take their businesses global has been launched at Bank Negara Malaysia’s (BNM) Karnival Kewangan here yesterday. The government fund, dubbed the Biotechnology Commercialisation Fund (BCF) 2.0, was launched by Science, Technology and Innovation Minister Datuk Seri Wilfred Madius Tangau. “The government has taken into consideration that bio-based companies require a longer gestation period. Madius said the fund’s first phase was rolled out under the Ninth and 10th Malaysia Plan to provide seed capital for bio-based companies to establish their business and market the products. Its chairman, Professor Tan Sri Zakri Abdul Hamid, said that BCF was offered through two schemes to accommodate the diverse needs of bio-based companies.

Source: New Strait Times January 15, 2017 03:37 UTC