T20 Bumiputeras urged to assist the B40 group

Minister in the Prime Minister's Department (Special Functions) Datuk Seri Mohd Redzuan Yusof today called on Bumiputeras in the Top 20 per cent (T20) group to assist in upskilling and reskilling the Bottom 40 per cent (B40) Bumiputeras to boost their wealth and economic potential.

He said professional Bumiputeras accounted for 52 per cent of the T20 households in Malaysia -- households earning at least RM10,961 monthly -- while in the B40 group (households earning less than RM4,850), 72 per cent were Bumiputeras.

"There are so many experts in the T20 grouping and their potential has not been realised.

"So I hope more engagement with the professionals that are in the high income group (can be held) to bring more ideas to us, perhaps as strategic partners or to expand their own scope to create an industry to increase employment," Mohd Redzuan said.

He was speaking at the launch of the Bumiputera Entrepreneur Development Scheme or Skim Usahawan Permulaan Bumiputera (SUPERB) 2020 by the Bumiputra Agenda Steering Unit (Teraju) here today.

Mohd Redzuan said the government had allocated RM15 million for Teraju to implement the business pitching-based programme based on the main themes of the Shared Prosperity Vision 2030 (WKB2030).

Bumiputera entrepreneurs age 18 to 40 are eligible to participate, and applications for SUPERB 2020 will be opened online from Aug 1 to 31.

Entrepreneurs at the pre-commercialisation stage stand to get business development grants of up to RM500,000 while those at the prototype development phase can receive business development grants of up to RM100,000.

Teraju chief executive officer Md Silmi Abd Rahman said since the launch of the SUPERB programme in 2014, a total 183 startups had been created via the allocation of grants worth RM144.5 million.

The agency is also urging Bumiputeras from Sabah and Sarawak to come forward and participate in the SUPERB programme.

He said Teraju hoped to get more overall submissions this year compared to the 1,179 applications received in 2019.

"SUPERB focuses on businesses that have a direct impact on the Key Economic Growth Activities (under WKB2030)," he added.

-- BERNAMA