Think tank: 40 pct of startups, social enterprises will fold without help

Modified 6 Apr 2020, 5:36 am

CORONAVIRUS | Future Digital, the think tank arm of The National Tech Association of Malaysia (Pikom), has warned that 40 percent of startups and social enterprises will fold by June if help is not forthcoming during the current economic downturn brought about by the Covid-19 pandemic.

"The current stimulus also provides little or no help for technology startups.

"These technology startups do not qualify for most loans as most are less than a year-old without a track record and do not meet the minimum staffing count required," Future Digital chairperson Ganesh Kumar Bangah (photo) said in a statement.

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