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Biotechnology Category

Mycelia Mushroom 6 years ago updated by Biotech Corp 6 years ago 2
Our company research, develop and produce mushroom seed / spawn. Do our product be regarded as biotechnology? Does Biotech provide funds or subsidy for purchase of lab equipments?

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Answer
Answered
Dear Sir,

Company undertaking research, production and commercialisation of mushroom seed or spawn can be considered as biotechnology company if the company conduct its activities utilizing biotechnology elements. In this particular case, the company must conduct its activity in producing the mushroom seed/spawn using biotechnology tools e.g. tissue culture technology, controlled environment cultivation, marker assisted selection and many others. The company would not be considered as biotechnology company if the activities undertaken using conventional method.

As for funding, BiotechCorp does provide the financing assistance via Biotechnology Commercialisation Fund (“BCF”) Facility. It is a hybrid facility consisting of Term Loan and Grant at a ratio of 2:1, up to a maximum 90% of a project cost or RM3.0 million, whichever is lower. The interest rate is charged on the Term Loan portion only and the tenure is up to 6 years, excluding 1 year grace period.

The purpose of BCF Facility is to provide continual funding/financing support for BioNexus status companies to further expand their commercialisation activities through viable biotechnology products and services. The financing is primarily for fixed assets and working capital that include the purchase of laboratory equipments.


For further details of the BCF Facility, kindly visit BiotechCorp’s website www.biotechcorp.com.my
Answer
Answered
Dear Sir,

Company undertaking research, production and commercialisation of mushroom seed or spawn can be considered as biotechnology company if the company conduct its activities utilizing biotechnology elements. In this particular case, the company must conduct its activity in producing the mushroom seed/spawn using biotechnology tools e.g. tissue culture technology, controlled environment cultivation, marker assisted selection and many others. The company would not be considered as biotechnology company if the activities undertaken using conventional method.

As for funding, BiotechCorp does provide the financing assistance via Biotechnology Commercialisation Fund (“BCF”) Facility. It is a hybrid facility consisting of Term Loan and Grant at a ratio of 2:1, up to a maximum 90% of a project cost or RM3.0 million, whichever is lower. The interest rate is charged on the Term Loan portion only and the tenure is up to 6 years, excluding 1 year grace period.

The purpose of BCF Facility is to provide continual funding/financing support for BioNexus status companies to further expand their commercialisation activities through viable biotechnology products and services. The financing is primarily for fixed assets and working capital that include the purchase of laboratory equipments.


For further details of the BCF Facility, kindly visit BiotechCorp’s website www.biotechcorp.com.my