The creation of the Malaysian GTFS is a strategy of the government to become a green society and to ensure that the nation will be sustainable. There is no doubt that the financing scheme has supported the green technology companies, and it is high time to know external factors may influence the impact on the companies' business performance. Therefore, this paper analyzed the influence of external factors on company recipients' business performance. Out of the GTFS's critical sectors, the researcher has chosen the energy sector to study. Qualitative methods have been used in this research, employing case studies and thematic analysis. Five companies have been selected and one official of the GTFS was interviewed. The research results showed that external factors have the most effects on the recipient companies. The identified external factors are government regulations and standards, external set objectives and processes by environmental certification agencies, global economy monitoring of green technology, and adopting new technologies and techniques. Consequently, there has been a notable improvement in the company's business performance. This research will allow new investors of green technology start-ups in the country to get an insight into the help they can get when they venture into the green technology business intending to join the sustainability development of the country.
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