Introduced by the Malaysia Digital Economy Corporation (MDEC), the hub aims to bring the internet startup community and support under one roof.
The Malaysia Digital Economy Corporation (MDEC), consistent with its commitment to grow Malaysia’s digital economy, has launched the Malaysia Digital Hub, an initiative that aims to provide a conducive environment for tech startups to build their businesses and conquer the global digital economy.
The gateway to ASEAN
Malaysia is strategically located, sharing land and maritime borders with six different ASEAN countries, geographically affording it the capability to easily connect to a large regional market. Coupled with the regulatory support of the Malaysian government that landed the country the 23rd rank for ease in doing business, Malaysia’s startup ecosystem has been gaining quite the momentum the past couple of years.
The Malaysia Digital Hub hinges on these, and the fact that Malaysia is one of the top countries in Southeast Asia with the highest internet penetration, to create an environment conducive for building and expanding digital technology.
It is not just current Malaysian startups that MDEC is looking to assist. As part of the country’s goal of becoming a hub for tech startups, the Malaysia Tech Entrepreneur Programme (MTEP) was launched. The programme aims to attract gifted individuals from around the world and help them build their startups in Malaysia. Under MTEP, new and established entrepreneurs can undergo a 21-day application process as a first step in setting-up their startup in the country.
G.R.O.W.T.H. for tech startups
Driven by a thriving startup community and created specifically to support the experimental nature of startups, Malaysia Digital Hub is designed to provide startups with the support needed to accelerate growth and global expansion. Dubbed G.R.O.W.T.H, businesses can expect these valuable opportunities to be provided by the Malaysia Digital Hub:
G – Global expansion opportunities for growing startups
R – Ready access to high-speed broadband and fibre optic connectivity
O – Optimised for funding and facilitation opportunities
W – Workforce-ready via a robust talent development ecosystem
T – Technologically focussed to attract global tech companies as anchor tenants
H – Holistic convenience and lifestyle experience
In addition, the Malaysia Digital Hub also has the capability of offering various incentives include tax exemptions, entrepreneurs visa, infrastructure, and access to a network of mentors and key ecosystem players.
Also read: Despite some headaches, Malaysia has positioned itself as a regional launchpad, say notable VC
It is not just tech startups that are encouraged to participate. Malaysia Digital Hub focusses on three more categories apart from growing startup, namely global tech companies, accelerators and talents builders, and investors.
To further offer an enriching environment, the Malaysia Digital Hub has partnered with various organisations to help startups grow further.
Microsoft will provide training, mentoring, and cloud services as well as training and assistance for VR/AR startups. NEXT Academy will hold a Talent Building Programme for startups, the pilot programme of which is about Digital Marketing to help startups develop a stronger minimum viable product (MVP). Maybank will provide mentoring, technology adoption of, and potentially investments in participating startups. Y Academy supported by Kejora will hold a customised market immersion programme that will provide market insights and prepares startups for entry to the Indonesian market.
Currently, three digital hubs in Klang Valley – APW, The Co., and Common Ground – have been approved by the government.
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MDEC centers its implementation efforts on driving investments, building local tech champions, catalysing digital innovation and propagating digital inclusivity, of which the Malaysia Digital Hub and the Malaysia Tech Entrepreneur Programme are only two of its initiatives.
As the lead agency for driving the digital economy of Malaysia, MDEC ensures that the country plays an integral part in global digital innovation.
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Disclosure: This article is produced by the e27 content marketing team, sponsored by MDEC.
Featured image credit: davidtch / 123RF Stock Photo
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