Chapter 7: Mentoring of Malaysian High-Tech Entrepreneurs in their Pre-Seeding Phase
Khairul Akmaliah Adham and Mohd Fuaad Said Introduction Entrepreneurial ﬁrms that generate technological innovations not only bring economic returns to their investors, but also play an important role in helping to develop the general economy of their society (Tether, 2000). Nevertheless, because they are involved in either unproven technology or new markets, have limited human resources and money, and face other challenges associated with forming and growing a new venture, these enterprises often need a number of support infrastructures to help move their products and services rapidly to market. By helping to provide such infrastructures, their investors are more likely to derive a return on their investments, and society will sooner be able to beneﬁt from these new contributions to the economy. In reviewing the literature, two most important support factors for new ventures appeared to be mentors and business incubators (Leonard and Swap, 2000; Peters, Rice and Sundararajan, 2004). Mentors, in the context of this study, are individuals with pertinent expertise, who help entrepreneurs to create a sound foundation for their companies. Business incubators are facilities in settings equipped with certain speciﬁc components deemed necessary to support a ﬂedgling venture. Support components ranged from bare oﬃce spaces with basic utilities, to extensive services helping with such things as connecting entrepreneurs with key collaborators (Hansen, Chesbrough, Nohria and Sull, 2000). In Malaysia, the high-tech industry is among the few in which new ventures have received structured support from the government. Since the mid-1990s, government has vigorously sought...
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