KUALA LUMPUR: A total of 20 companies have been granted nearly RM1.5 million through the Indian Business Accelerator Programme (I-BAP), an SME Corporation Malaysia (SME Corp) initiative designed to support small businesses owned by Indian entrepreneurs in Malaysia.
According to BERNAMA News Agency, the I-BAP programme, managed by the Ministry of Entrepreneur and Cooperatives Development (Kuskop), offers matching grants of up to RM100,000 to help Indian-owned small businesses improve their capacity, capability, and business performance. Kuskop Deputy Minister Datuk Seri R. Ramanan stated that this group of recipients is the first batch after the application period closed on October 31.
Ramanan announced that the approved financial assistance amounts to RM6 million, although applications received totaled almost RM26.14 million. He mentioned plans to discuss with Kuskop Minister Datuk Ewon Benedick and SME Corp’s chief executive officer Rizal Nainy to seek a larger allocation for I-BAP from the prime minister.
The Deputy Minister also revealed that 61 more applications are under evaluation, bringing the total number of small businesses owned by Indian entrepreneurs expected to receive financial assistance to over 70. The grants cover expenses for purchasing machinery and equipment to enhance product quality and productivity.
Furthermore, the programme supports the adoption of information and communication technology (ICT) and e-commerce, the implementation of environmental, social, and governance (ESG) practices, product certification, and the execution of marketing and promotional activities. Ramanan highlighted the government’s commitment to enhancing the development of the Indian community in line with the MADANI Economic Framework.
One of the grant recipients, R. Abiramee, shared her experience of receiving RM62,000 to purchase and repair a fresh milk-based ice cream machine. This grant enabled her to transition from importing ice cream from India to producing it locally in Malaysia, following valuable traini
ng at SME Corp.