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Malaysia Digital Economy Corporation introduces Malaysia Digital Hub and Tech Entrepreneur Programme to support start-ups

Malaysia Digital Economy Corporation introduces Malaysia Digital Hub and Tech Entrepreneur Programme to support start-ups

Photo: Tan Sri Irwan Serigar, Secretary General of Treasury, Ministry of Finance (right) and  Dato’ Yasmin Mahmood, CEO of MDEC (left)/ Photo Credit- MDEC

The Malaysia Digital Economy Corporation (MDEC) launched two new connected initiatives to support technology start-ups, in the form of the Malaysia Digital Hub (MDH) and the Malaysia Tech Entrepreneur Programme (MTEP). These are in line with MDEC’s mandate to assume the role of the lead agency in driving the digital economy in Malaysia.

This follows several other announcements since the beginning of 2017, such as the launch of the Digital Free Trade Zone (DFTZ) and the establishment of the ASEAN Data Analytics Exchange (ADAX).

YBhg. Tan Sri Dr. Mohd Irwan Serigar Abdullah, Secretary General of Treasury, Ministry of Finance, reiterated Malaysia’s commitment  to grow technology-related startup companies and expressed hope that the efforts will continue to get the support from the startup community as well as private sectors.

Dato’ Yasmin Mahmood, CEO of MDEC added,“Malaysia is gradually gaining interests from startups and entrepreneurs worldwide. Located at the heart of ASEAN, Malaysia is able to connect businesses to a regional market of more than 625 million people. With the introduction of Malaysia Digital Hub and MTEP, the local and global tech startup communities can now leverage these benefits that our country has to offer. We believe this will help to strengthen Malaysia’s position as a global hub for startups and entrepreneurs.”.

Malaysia Digital Hub

MDH seeks to serve as a place for growing startups to develop their next big idea in technology and be connected to the ecosystem of the digital economy.

While MDH encourages participation from all tech startups, it has four focus categories: growing startups, global tech companies, accelerators and talent builders and investors.

MDH provides start-ups with high-speed broadband and fibre optic connectivity, funding (both private and government) and facilitation opportunities and IP (Intellectual Property) Protection. Start-ups get access to a Founders Network, with founders of over 20 nationalities.

DigitalHub is a new MSC category, designed for startups and internet companies. Currently, there are three government-approved digital hubs,  APW, The Co. and Common Ground. All are located in Klang Valley.

Malaysia Tech Entrepreneur Programme

MTEP is described as an initiative by the Malaysian government to attract gifted and ambitious individuals from all around the world, and help them to kick-start their startups in Malaysia. The programme is MTEP aimed at tech founders who want to capture the ASEAN market from Malaysia via a 1-year stay or a 5-year stay in the country.

Both new and established entrepreneurs from all over the world are encouraged to apply. A 1-year pass is available for new entrepreneurs and a 5-year pass for established entrepreneurs, with the latter referring to individuals with a track record of established business.

Application requirements include a Business Pitch Deck, financial track record and sponsors. The details from the MTEP website are as below:

Image: Screenshot from MTEP website

The application process will take up to 21 days. MDEC approves the applications and Malaysian Immigration office issues the Pass.

Incentives

The incentives for selected start-ups include corporate tax exemptions, access to funding, and availability of coaching and mentorship. These initiatives can enable start-ups to run business at a low cost, in a stable business-friendly environment.

In addition, there is freedom of ownership for foreign companies for investors.

Partners

MDEC has tied up with strategic industry partners to enrich the ecosystem. For example. Maybank will hold an annual “Go-to-market with Maybank” programme for FinTechstart-ups. Microsoft will provide training, mentoring and cloud services for startups at APW, in addition to sistance for VR/AR startups at the HoloLens Centre at APW.

Y Academy, with an Indonesian-based venture builder, Kejora is offering a customised market immersion programme, named “Frequent Flyer Geeks” for providing market insights and preparing startups for entry into the Indonesian market. Startups can connect with potential partners, investors and in certain cases, regulators. It is open to start-ups at all Malaysia Digital Hubs.

Read the press release from MDEC here

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.