KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has extended the Iltizam Catalyst 2024 application deadline to Aug 31 this year.
Small and medium enterprises (SMEs) now have more time to apply for Iltizam Catalyst 2024, a 12-month capacity-building programme by Ekuinas.
This programme helps SMEs address common challenges and improve key business areas to accelerate growth.
Iltizam Catalyst focuses on four key areas: finance and compliance, branding and digital marketing, technology adoption and leadership.
The programme provides Bumiputera entrepreneurs with tools to tackle business challenges through assessments, technical and non-technical training by experts, and mentorship from industry leaders.
Its goal is to strengthen business fundamentals and guide entrepreneurs towards sustainable growth.
Ekuinas director of stakeholders' interest Hizwani Hassan said Iltizam Catalyst aims to empower, strengthen and accelerate Bumiputera businesses by addressing these common issues faced by SMEs and strengthen business fundamentals in four core areas.
"Leveraging on our experience in private equity and aggressive value creation for our portfolio companies, Ekuinas understands key pain points commonly faced by SMEs and the fundamental business areas which pave the foundation for success.
"Since its inception in 2022, Iltizam Catalyst has accelerated the growth of 38 Bumiputera SMEs across diverse sectors.
"We are calling for more SMEs especially those with unique, niche businesses in manufacturing, food and beverage, retail, education, agriculture, healthcare and other service sectors, to apply for Iltizam Catalyst 2024 which will begin in November.
"We have extended the application deadline to Aug 31, 2024," he said in a statement.
To apply, Bumiputera SMEs must be registered with the Companies Commission of Malaysia (or the local authorities) for Sabah and Sarawak), have an annual revenue of between RM300,000 to RM1 million, and a profitable track record over the last two years.
Iltizam is Ekuinas' corporate social responsibility arm that undertakes sustainable development efforts by reaching out to the wider Bumiputera community via three pillars, namely, education, entrepreneurship and community programmes.
In 2023, Ekuinas through Iltizam, disbursed a total of RM13.8 million through its initiatives benefitting a total of 74,000 individuals, families, entrepreneurs and businesses across Malaysia.
Of this, RM3.3 million was channelled towards entrepreneurship efforts. This brings Ekuinas' total expenditure under Iltizam to RM100 million since its inception.