The Edge Financial Daily, October 10, 2007

BiotechCorp launches RM40m mentor scheme

By Vans Yen Nie

KUALA LUMPUR – Malaysian Biotechnology Corporation (BiotechCorp) yesterday launched a RM40 million mentoring programme for training entrepreneurs on managing new business ventures in the biotech industry for the next five years.

Its chief executive officer Datuk Iskandar Mizal Mahmood said BiotechCorp expected to train up to 240 entrepreneurs and biotechnology companies in the next three years.

“From this mentoring programme, we are targeting 10% of the entrepreneurs to be able to generate new ventures,” he said at a media conference to announce the mentor for the project.

The Mentoring/Executive-In-Residence (EIR) Programme is being implemented with part of the RM2 billion government biotech development grant under the Ninth Malaysian Plan. The programme will be conducted through specialised and one-on-one targeted development programmes for biotech companies, individuals and new organisations in biotech activities, including its 39 BioNexus companies.

A panel of mentor will be appointed to provide these companies or individuals with operational, financial and marketing advisory services to assist them in setting up or expanding operations in BiotechCorp focus areas.

BiotechCorp BiotechCorp engaged the chief executive officer and chairman of US based industrial enzymes company Genencor International Inc, Robert Mayer, to be its first mentor for selected entrepreneurs in this training programme.

Mayer, the former president of global food ingredients manufacturer Danisco USA Inc, would be providing professional expertise and coaching services to the entrepreneurs or companies for a year.

Iskandar said although Mayer’s tenure was specified, there would be no particular duration for the training programmes as the level of assistance provided by the mentors depended on the nature and success of each company or entrepreneur.

He said BiotechCorp would hire other experienced and successful industry leaders to serve as mentors in the future, adding that it would invite a leader in the healthcare or agriculture industry to be another mentor by year end.

Iskandar said the selection of mentors would be ongoing depending on the development of the biotech Indus try in the country.