SME Bank Bhd has launched a new program, IQ-Dagang, which aims to nurture entrepreneurs’ ideas and turn them into commercialized products and services.

Under the program, existing or budding small and medium enterprises (SMEs) can submit their ideas to SME Bank’s website or through its 18 branches nationwide.

The business idea or plan will then undergo various screening processes, namely idea generation, development and refinement, loan submission and commercialization.

“We don’t just provide loans. Under this program, the bank will assist SMEs via our expert consultants. We will also do business matching and mentoring program once we have identified the businesses,” SME Bank managing director Datuk Mohd Radzif Yunus said in Kuala Lumpur.

“Turning ideas into viable and bankable business is the plan for IQ-Dagang. This can be achieved by guiding entrepreneurs to secure funding, nurture them towards sustainable success and to have more business partners like SME Bank to play the role as investors in the business matching,” he added.

The program, launched by Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir, has so far attracted 116 ideas registered under IQ-Dagang.