KUCHING: The government has reaffirmed its commitment to nurturing young entrepreneurs through the RM3-million Sarawak Youth Startup grant and a RM25-million soft loan facility with Affin Bank.
Tourism, Creative Industry and Performing Arts Minister, Datuk Seri Abdul Karim Rahman Hamzah, said the RM3-million annual grant would act as a catalyst for high-potential startups to develop products and technology, accelerate commercialisation, and penetrate wider markets.
The RM25-million soft loan facility, he said, would support youth-led companies ready to scale up by boosting operational capacity, expanding market reach, strengthening business models, and creating quality job opportunities.
He said this at the closing and prize presentation ceremony of the Sarawak Youth Business Idea Competition (SaYBIC) 2025/2026 at the Sarawak Sports Village here on Sunday (June 21),
Both funding mechanisms have been previously announced by the minister at an earlier entrepreneurship event, where he stressed that government assistance was meant to be a stepping stone rather than an end goal, cautioning against entrepreneurs who merely chase grants without building lasting enterprises.
Abdul Karim said SaYBIC had grown into an important platform for developing entrepreneurial talent, innovation and leadership among youth, offering participants exposure to the business world while honing their problem-solving and idea development skills.
This year’s edition drew participation from five higher learning institutions – Universiti Teknologi MARA (UiTM), Universiti Malaysia Sarawak (UNIMAS), Universiti Teknologi Sarawak (UTS), Politeknik Metro Betong, and Kolej Vokasional Matang – with 12 finalists selected to pitch their business ideas and models.
“The ideas put forward prove that our younger generation has extraordinary capability to create solutions relevant to current needs, while contributing to the economic development of Sarawak and the nation,” he said.
He singled out UiTM for special appreciation over its strategic collaboration in the programme, describing the partnership as significant in combining academic strength, research, innovation and human capital development with industry needs and the state’s development aspirations.
Abdul Karim added that the Ministry of Youth, Sports and Entrepreneur Development (MYSED), together with implementing agencies, would continue supporting young entrepreneurs through various courses, assistance schemes and starter grants, including the SYStartUp Course Programme, MINTRED, TEKUN and INSKEN financing, as well as collaboration with SME Corp and digital incubation platforms.
He expressed confidence that many of the participants would emerge as future industry leaders, technology innovators, and successful company founders.
