Enterprise Asia Launches Women Entrepreneurship Fund in partnership with Tech Outreach

(Kuala Lumpur, 19 February 2013)

Enterprise Asia, a leading regional NGO for entrepreneurship is pleased to announce the launch of a new outreach program, Women Entrepreneurship Fund (WEF), in partnership with a Malaysian NGO for empowerment of women, Tech Outreach. Through WEF, Enterprise Asia and Tech Outreach will help 200 single and poorest-of-the-poor women annually to have a second chance at life by providing microcredit for home-based and community-driven enterprises. Enterprise Asia will invest MYR 500,000 over 5 years to help 1000 Malaysian local women whose business plans have been screened and approved by Tech Outreach.

Dr. Selvamalar Ayadurai, founder of Tech Outreach says, “providing women in rural areas with entrepreneurial skills and competencies can contribute to economic growth in developing countries and clearly represents an untapped potential. However, women entrepreneurs, particularly in rural areas, often experience difficulties accessing relevant financial products and services due to a lack of appropriate products, information, understanding of their needs and collateral. With few employment choices, these women often start businesses in highly saturated sectors in the informal economy and in low productivity and low return activities, where they have little or no social protection.”

To tackle these issues, Enterprise Asia provides not only the seed-funding but also continuous assistance to the fund-recipients in the form of training programs, technology and mentorship. This holistic approach is crucial in keeping women motivated and helping their businesses become self-sustainable.

“We’re delighted to continue on our agenda of promoting responsible entrepreneurship and investment in people by kicking off this fund to benefit needy women entrepreneurs across the country. This will be a pilot program though which we monitor and measure the progress and success of the participants. If the results are encouraging, we’re launching this in other parts of Asia and open the fund for contribution from other entrepreneurs and entrepreneurial organizations,” says Tan Sri Dr Fong Chan Onn, Chairman of Enterprise Asia.

About Enterprise Asia
Enterprise Asia is an Asian non-governmental organization which strives for the pursuit of entrepreneurship development across the region. It strives to promote fair and equal opportunities for emerging entrepreneurs. Founded by entrepreneurs for entrepreneurs, the organization is supported by a panel of prominent industry and government leaders who truly believe in its mission of championing entrepreneurship in Asia. For more information, please visit www.enterpriseasia.org.

About Tech Outreach
Tech Outreach is a Malaysia-based non-governmental organization, established in 2004.
Tech Outreach empowers disadvantaged communities in Malaysia and Sri Lanka, as well as other parts of the world that require socio-economic and technological development. Tech Outreach’s mission is to transform, enhance, cultivate and harness the lives of disadvantaged communities, irrespective of race, color, belief and geography. For more information, please visit www.mytechoutreach.org.

Media Contact
(Ms) Yui Takahara
Tel: +603 7803 0312
Email: y.takahara@enterpriseasia.org

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