Govt allocates RM20m for BOET development

CYBERJAYA: The government has allocated RM20 million to develop a Blue Ocean Entrepreneurship Town (BOET) here, with the objective of creating a conducive environment for young entrepreneurs to conduct their businesses.
Treasury Secretary-General, Tan Sri Dr Mohd Irwan Serigar Abdullah said Cyberview Sdn Bhd would be in charge of the township's development as the owner of the 0.33ha land, adding, the project is expected to be completed in the next six to seven months.
"At Cyberjaya, we are building for the young, with a restaurant that will attract this group, alongside 'co-working spaces' for entrepreneurs to undertake their businesses on a small scale with reasonable rental.
"We will also build a gymnasium and other sports facilities towards making this township a 'one-stop centre' for the young to work, rest and to undertake sport," he told reporters after a media lunch with leaders of Malaysia's publishing industry and the Global Entrepreneurship Movement (GEM) here, today.
Irwan said this is the second entrepreneur township development, after Borneo 744 in Kuching, Sarawak, which is under construction currently.
"We are also undertaking a similar development in Terengganu, with the cooperation of the state government, and it is in the construction phase. The allocation from the Federal government for the township in Terengganu is RM10 million," he added.
Meanwhile, during the lunch, GEM showcased six entrepreneurs who have been inducted into the TENxCLUB, which allows them access to a comprehensive and powerful mentoring programme, including unparalleled entry to various global markets.
Members would also be sponsored to attend first-class international networking events and have an opportunity to connect with various capital sources.
Irwan said applicants for the club can either be the founder, owner or majority shareholder of a start-up earning a minimum of RM1 million in its first year of operation, as well as be less than two years old in December 2017.
"Starting your own business can be very daunting. You need access to sufficient capital, meet and network with the right crowd, and have great mentoring programmes to guide, as you struggle to survive in a highly-competitive business environment.
"This is precisely why a community of entrepreneurs is essential to provide the necessary support, not just locally, but globally as well," he added. — Bernama