Graduates keen to start their own businesses can apply to the Graduate Entrepreneur Fund which still has RM23 million from the RM25 million allocated under the Ninth Malaysia Plan.

Deputy director of the International Trade and Industry Ministry's

Entrepreneurship Institute Malaysia, Samsu Kadir, said from 2000 to May this year, only 1,347 applications had been received for the fund.

"From the number, a total of 659 applicants received loan approvals with the cooperation of SME Bank," he told reporters after officiating a basic entrepreneurship training programme here today.

Samsu said the ministry encouraged graduates from local institutions of higher learning to make use of the opportunities to become entrepreneurs.

He said the ministry had conducted various training programmes which covered 7,943 participants from 2000 to 2009.

Samsu said the institute targeted 30 participants for each programme and as at May 2010, 31 applications were received for the Graduate Entrepreneur Fund with four of them already approved.

He said the amount given out under the fund was from RM20,000 to RM250,000 with a maximum repayment period of 10 years.

- Bernama