He proposed a total allocation of RM267.2 billion for Budget 2016, made up of RM215.2 billion in operating expenditure and RM52 billion in development expenditure.   While not much was announced on the technology ecosystem front per se, the Malaysian Global Innovation and Creativity Centre (MaGIC) was the big winner, getting an additional RM35 million to establish itself “as a Leading Regional Entrepreneurship and Innovation Hub,” he said.   This includes RM10 million as initial allocation for the Corporate Entrepreneurs Responsibility Fund, said Najib, who is also the Prime Minister.   This follows a host of allocations MaGIC has got in the last two national budgets. When Najib announced the Budget 2014, he had allocated RM50 million for the establishment of MaGIC. Later this was increased to RM70 million.   Under Budget 2015, he also announced a slew of allocations to boost entrepreneurship, with many of the programmes falling under MaGIC’s purview.   Other entrepreneurship-related allocations include:

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