Push the public-private collaboration agenda to leverage tech firms, says MDEC

by NURUL SUHAIDI / Pic courtesy of MDEC

MALAYSIA Digital Economy Corp (MDEC) CEO Mahadhir Aziz calls for more participation among the private sector and the large corporations to leverage technology companies in the country to another level.

“Although I am still not fully satisfied with the progress yet, however, Malaysia has seen tremendous progress with emergence of new tech venture, unicorn companies which signals a positive growth of the industry,” he said during the launch of 2022 [email protected] Cloud Global Start-up Contest (CACSC 2022) in Malaysia in APU Bukit Jalil, Kuala Lumpur.

He believes that the growth and development of digital start-ups account for the cultivation of a progressive and sustainable digital economy ecosystem.

CACSC 2022 acted as a platform to drive digital transformation and tech innovation and for tech start-ups to unleash their potential via a network of investor ecosystems.

“This time, CACSC is unique as we have a wide range of investors, key business leaders and venture capitalists and global participation with us to assist the participating companies,” Alibaba Cloud Intelligence Malaysia GM Kun Huang said.

Participants will gain access to ready-funders and investors for their projects, Alibaba’s wide range of business ecosystems and resources, and benefit from the best digital business practices of Alibaba Group.

This year’s CACSC will be focusing on five core pillars namely digital tech, food and beverage tech, agro tech, blockchain and IR4.0.

“These are the country’s most promising industries and automation offers endless opportunities to tap into,” Kun added.

Adding to it, Mahadhir said the vision and mission of CACSC are in line with Malaysia Digital, the national strategic initiative to accelerate Malaysia’s digital economy and enable local start-ups to become global champions.

“We want to see more companies like Alibaba and bigger experts and to facilitate the growth. We are optimistic there will be a lot more intervention from public and private entities in the future,” he said to the media.

“The target is not to leverage the companies which already have a presence in the industry but also the smaller and the ‘soon to be unicorn’ companies through various initiatives and innovation agenda undertaken by Cradle Fund Malaysian Research Accelerator for Tech and Innovation,” he concluded.