Kuala lumpur: MyCreative Ventures Sdn Bhd (MyCreative) has introduced the Social Enterprise Fund (SEF) aimed at bolstering creative social enterprises in Malaysia. This initiative is designed to provide targeted financing and capacity development, strengthening creative entrepreneurs while delivering tangible social and environmental benefits to specific communities.

According to BERNAMA News Agency, the government-owned investment company announced that the fund, which became available yesterday, is structured into two distinct tiers. The Early Stage (E1) offers grants of up to RM100,000 for enterprises that have been actively operating between one and three years. Meanwhile, the Growth Stage (G2) provides funding of up to RM1 million. This funding is structured with an 80 percent revenue-sharing component and a 20 percent grant for enterprises with more than five years of operations.

Applicants wishing to benefit from the SEF must be legally registered businesses with the Companies Commission of Malaysia (SSM) and must have been operational for at least one year. Additionally, applicants must not be bankrupt or blacklisted.

MyCreative emphasized the importance of comprehensive documentation in their proposals, stating that submissions must include detailed company information, financial data, project usage specifics, and relevant industry background.