Mary Blight – Page 3

MDEC launches IP360 metaverse platform

On: January 9, 2025

Aims to reinvent worldwide access to Malaysia’s history and imagination
Lovers with Tourism Malaysia, ASWARA to promote creativity &amp, society

MDEC launches IP360 metaverse platform

The Malaysia Digital Economy Corporation ( MDEC ) has announced the public launch of the IP360 Metaverse Platform, highlighting Malaysia’s leadership in digital innovation and cultural preservation. The software, which was developed in collaboration with Ammobox Studios Sdn Bhd, redefines how international audiences perceive Malaysia’s rich history and creative business.

Currently in its minimum viable product ( MVP ) stage, the platform provides seamless, interactive 3D digital experiences for local and international audiences. Powered by False Engine 5 and Pixel Streaming, it delivers high-quality photos available through any online website, removing the need for professional equipment.

Two interactive experiences are included in the platform that are meant to captivate international audiences while preserving Malaysia’s cultural heritage. These include: &nbsp,

Digital Museum: Showcasing Malaysia’s ethnic heritage through dynamic objects, treasure hunts, native language classes, and holographic classic dance performances.

The development of the platform, which is the result of strategic partnerships with leading Malay IP brands like Tourism Malaysia, ASWARA, Istana Budaya, and other organizations, shows a commitment to innovation and worldwide cultural awareness.

Anuar Fariz Fadzil, CEO of MDEC, stated,” The IP360 Metaverse Platform coincides with Malaysia’s regional plan to improve its innovative online business. It makes use of engaging technology to increase employment and spur economic growth. By 2030, Malaysia aims to be a hotspot for high-quality, modern electronic information”.

This time, MDEC supported 38 businesses and Internet creators through its Metaverse Onboarding and Immersive Internet Experiences Programme, offering up to RM200, 000 per initiative to encourage universe implementation.

Explore the future of interactive online content and discover Malaysia’s historical riches at https ://mdec.my/ip360-metaverse/platform

TM and Perodua partner to advance Malaysia’s automotive sector

By: Mary Blight

On: January 8, 2025

In: Technology

coincides with the 2030 New Industrial Master Plan objectives.
The partnership aims to promote digital technology and EV growth.

TM and Perodua partner to advance Malaysia’s automotive sector

TM and Perodua have announced a strategic partnership to advance electric vehicle ( EV ) development, digital innovation, and sustainable growth in Malaysia’s automotive sector. The engagement focuses on four key areas: Hyperconnected Network, Advancing Digital Technology, Enriching Customer Experience, and Environmental Sustainability.

Partnership Facts

TM, through its business and government industry solutions arm TM One, may offer Perodua with upgraded equipment, including fixed and wireless connectivity, SD-WAN solutions for dealer networks, and private 5G for automotive applications. Additionally, the relationship intends to use cutting-edge manufacturing techniques to enhance Perodua’s functional capabilities.

TM One can utilize its expertise in Cloud, Cybersecurity, Data Analytics, and AI to support efforts in smart production, GPU as a Service, and EV and intelligent driving systems.

Collaborative Work

Through co-creating materials and creative marketing tactics, the two businesses intend to expand their market share. This includes developing customized entertainment systems, bright tracking options, and shared digital marketing campaigns.

The partnership’s main goals are also focused on environmental conservation, with plans to work together on fresh strength solutions for EV charging facilities and waste reduction efforts.

Continue checking at oursustainabilitymatters.com for the whole content as DNA is transitioning our conservation policy to a solo information site.

NewBe.AI: Revolutionising AI Education

By: Mary Blight

On: January 8, 2025

In: Technology

NewBe.AI: Revolutionising AI Education

In recent years, artificial intelligence ( AI ) has transformed industries across the globe, and education is no exception. AI is now a core component of teaching and learning, changing the way teachers present information and teach concepts to students. From personalised teaching paths to interactive equipment, AI has the potential to create education more visible, effective, and powerful.

AI Labs Sdn Bhd, a company that aims to promote the common use of AI in education and training in schools and education centers, is at the frontline of this trend. Through its ground-breaking software NewBe. AI, AI Labs, which won the Most Promising Startup nomination earlier this year at the second edition of the Best In Tech Innovation Awards, empowers educators and students to effectively use AI. NewBe.AI: Revolutionising AI Education

The origins of NewBe. AI

Although AI Labs was officially established in 2019, its origins date back to 2017 when its creator, a seasoned professional with over 15 years of experience in AI architectural applications, began to formulate the concept. The chairman saw the need to plan the next generation for an AI-driven upcoming while acknowledging the transformative potential of AI.

The leader was inspired by a personal mission to educate his children about AI and discovered a lack of AI education, especially for young people in the K12 age. Frustrated by the lack of appropriate classes, he set out to develop his own syllabus—one that simplifies difficult Artificial concepts into engaging, age-appropriate information. This action gave rise to the concept of NewBe. AI, an AI teaching program tailored precisely for school-aged kids. NewBe. AI’s trip gained momentum after the Covid-19 epidemic, particularly with the surge in curiosity following the release of OpenAI’s ChatGPT in late 2022.

NewBe.AI: Revolutionising AI Education

Since therefore, NewBe. In both domestic and international schools, AI has been used, a major step toward integrating it into popular education.

Overcoming difficulties in AI training

one of NewBe’s biggest challenges. AI was addressing the complex nature of AI as a subject, which might be challenging for instructors without a solid professional qualifications.

The ACE Instructor Platform, a device designed to aid teachers in following a structured curriculum while teaching AI, provided the solution. For individuals, NewBe. AI introduced effective teaching methodologies via the self-paced Wiz Ai Learning Program, incorporating actions, games, and interactive elements to make complex concepts more accessible and interesting. We believe Artificial training, when done right, may be Quick, Playful yet Practical!

NewBe.AI: Revolutionising AI Education

Business comment and development

Since later 2022, NewBe. AI has seen outstanding desire. By 2023, both domestic and international schools had been working with the organization to utilize its programs, making it Malaysia’s quantity one teaching and learning program. NewBe has been fueled by the passionate industry response. expanding beyond its original household country, reaching nations like Indonesia and the Philippines.

NewBe.AI: Revolutionising AI Education

Potential ideas

Looking back, NewBe. AI aims to expand even further throughout Southeast Asia while improving its products. Now with over 20, 000 active instructors and learners on board, the app envisions a complete understanding way for students, from basic AI concepts to innovative applications in creativity, productivity, and maker classes.

Together, NewBe. AI intends to train teachers in areas ranging from fundamental AI knowledge to practical applications of AI tools for performance and education design. This two focus on students and instructors ensures that NewBe. AI aims to be the force behind expanding AI training worldwide.

NewBe.AI: Revolutionising AI Education

Add the Artificial training revolution

NewBe. AI invites teachers, colleges, and institutions to be part of the AI-driven change in learning as online partners, online schools and training centres, &nbsp, certified instructors, and edupreneurs.

Whether you’re a like-minded company partner looking to expand the Artificial education landscape, educator/ teacher seeking modern tools, a school aiming to incorporate AI into the curriculum, or parents excited for your kids to explore the world of AI properly, NewBe. AI is here to support your journey. Visit NewBe. AI to gain more knowledge and make the first step toward an AI-enabled future. You can also reach out to AI Labs at 012-423 2878 or send them an email at]email&nbsp, protected].

101 Digital appoints Sachin Rajat Sharma as chief commercial officer to accelerate global growth

By: Mary Blight

On: January 7, 2025

In: Technology

20 decades experience in driving change in finance, payments &amp, plan
Originally the main product &amp, business agent at Audax Financial Technologies

101 Digital appoints Sachin Rajat Sharma as chief commercial officer to accelerate global growth

101 Digital, a next-generation supplier of electronic banking solutions enabling embedded financing, new modern banks, and the modern conversion of conventional banks, has announced the appointment of Sachin Rajat Sharma ( photograph ) as its chief commercial officer. In addition to bringing a wealth of knowledge, Shani has a proven track record for transforming businesses in Southeast Asia, India, and the Middle East.

Founded in 2018 by Rana Peries and Rajiv Ellepola, 101 Digital has been at the vanguard of delivering cutting-edge banking alternatives to major financial institutions across Africa, the UK, Southeast Asia, and above. Sachin’s interview comes at a crucial time for the business as it looks to grow and strengthen its presence in these sectors.

With over two decades of experience, Sachin has led revolutionary efforts in finance, obligations, and plan. He is renowned for launching innovative solutions such as discourse, a multi-award-winning banking-as-a-service system, alongside another industry-first innovations in online banking and client engagement. Prior to joining 101 Digital, Sachin previously held the position of general goods and business officer at Audax Financial Technologies, where he co-founded the business and expanded it to provide many business customers in its first year.

In his new role, Sachin does generate 101 Digital’s global development strategy, guide market expansion, and develop partnerships with important financial institutions. His administration will focus on delivering distinguished value propositions, building high-calibre teams, and fostering innovation to change the online banking landscape.

Rana Peries, co-founder and chief product officer of 101 Digital, commented:” We are delighted to welcome Sachin to the 101 Digital family. His deep understanding of digital transformation and commercial strategy will be of a crucial role as we continue to provide financial institutions with cutting-edge solutions. Sachin’s vision perfectly fits our goal to influence the direction of banking in the future.

Rajiv Ellepola, co-founder and director of delivery, added:” Sachin’s extensive work in driving new business models for banking perfectly complements 101 Digital’s vision of enabling large-scale banking transformation. As we move into our next growth stage, we anticipate having him aboard.

Sachin said:” I am thrilled to join 101 Digital at this exciting juncture. As financial institutions embrace embedded finance and digital-first strategies, 101 Digital is uniquely positioned to lead the transformation. Working with the talented team at this company will help us bring about positive change for both our clients and their customers.

Soul Parking raises Series A extension to fuel growth for innovative parking solutions in Indonesia

By: Mary Blight

On: January 6, 2025

In: Technology

Funds will power development, hiring, product upgrades, and company growth
Plans to enhance appearance in existing areas, enter new urban locations across Indonesia

Kenneth Darmansjah, co-founder & CEO, Soul Parking (left) and Unggul Depirianto, CTO, Soul Parking

Soul Parking, a leading park management service company transforming industrial parking facilities through systems in Indonesia, has announced the implementation of a Series A expansion round of financing co-led by AppWorks and AC Ventures, with participation from Taiwan Mobile, USPACE, and Wavemaker Ventures, the early-stage fund of Wavemaker Partners.

In a speech, the organization said the borrowing will help growth initiatives, including growth into high-density cities, enrollment, product enhancement, and marketing to enhance brand visibility and user growth. Additionally, Soul Parking intends to expand its footprint in existing areas, expand to new metropolitan areas in Indonesia, offer a wide range of aircraft types, and look into opportunities in the electric vehicle industry. Unfortunately, the company aims to lead to Indonesia’s green industrial growth by reducing gridlock, lowering emissions, improving convenience, and enhancing the overall park experience for drivers.

Soul Parking makes use of technology to modernize standard parking facilities, providing property owners and users with a quick and hassle-free electronic parking experience. Real-time data analysis and cashless payment options are integrated into its asset-light model, which improves parking users ‘ ability to use more space and generate more revenue.

For home owners, Soul Parking offers creative solutions that improve the industrial parking infrastructure, generate new revenue streams, and increase parking capacity in densely populated areas by up to eight times as much as conventional methods. For individuals, the company delivers a smooth, cashless, and convenient parking knowledge, eliminating the problems of conventional driving systems.

Soul Parking’s modern products and services include: &nbsp,

Soul Parking operating system: Cloud-based technology that digitises existing driving frameworks for both two- and four-wheeled cars, offering real-time data analysis and visible information sharing.

The company states it can transform a 60m² area into multi-level parking, significantly reducing congestion and increasing capacity. With added security, its elevated parking system provides insurance for each parked vehicle and CCTV monitoring for added security.

Since its inception, Soul Parking claims to have on boarded over 100 partners, including property owners and management companies, processing more than 20 million parking transactions annually. Its solutions are implemented in apartments, hospitals, commercial centres, recreational areas, and residential complexes, with over two million vehicles parked through its system to date.

Soul Parking raises Series A extension to fuel growth for innovative parking solutions in Indonesia This fundraising round highlights the immense potential within the parking industry as well as the strength of our business fundamentals and the resilience of our team. We appreciate the trust and shared vision of our investors, whose support enables us to fast-track innovation and deliver impactful solutions, positioning us to redefine urban mobility for the future”, said Kenneth Darmansjah, co-founder and CEO of Soul Parking.

By developing effective and sustainable parking options,” Soul Parking addresses a crucial issue in Indonesia’s urban landscape.” Their tech-driven approach improves the driver’s parking experience while maximizing land use and reducing congestion in densely populated cities. We are particularly impressed by Darmansjah’s commitment to using technology to address real-world problems”, said Jamie Lin, chairman and partner at AppWorks.

Lin continued,” The Soul Parking team has demonstrated execution and a thorough understanding of the mobility market. This, combined with their clear vision for the future of urban mobility, makes them an ideal partner for AppWorks. We look forward to supporting their journey as they expand their impact and change how urban mobility is defined in Indonesia and around the world.

” Parking management is a substantial sector in Indonesia. Soul Parking provides parking customers with a seamless experience while providing cost-effective, accountable services to property owners through its innovative solutions. Soul Parking operates at a scale and is well-positioned to compete effectively in this expanding market, according to Michael Soerijadji, founder and managing partner at AC Ventures, with over 20 million transactions processed and partnerships with more than 100 property owners.

” With 137 million motorcycles across Indonesia and a severe shortage of parking spaces, illegal parking has become widespread, worsening traffic congestion and causing economic losses—Jakarta alone loses approximately US$ 30 million ( RM133 million ) annually. Soul Parking’s vertical motorcycle parking system, equipped with real-time tracking, optimises land use and enhances efficiency and transparency in parking management across Indonesia. We’re proud to see the business continue to support them as they address this pressing issue and expand their services across the country, according to Paul Santos, co-founder and managing partner at Wavemaker Partners.

Digerati50, Nobel laureate Shuji Nakamura, and CREST’s Gallium Nitride talent bet with 60x returns generated

By: Mary Blight

On: January 5, 2025

In: Technology

Steven DenBaar &amp, Nobel prize, Shuji Nakamura to identify software changes
Digerati50 like Jaffri Ibrahim play&nbsp, outsize tasks to increase Malaysia into&nbsp, Asian Digital Tiger

Dr Shuji Nakamura giving researchers guidance while visiting Universiti Malaya's GaN lab.

The 6^th edition of Digital News Asia’s Digerati50 annual networking event on 10^th Jan, hosted by Cyberview Sdn Bhd in Cyberjaya, welcomes a very special guest – 2014 Nobel Prize Laureate in Physics, Professor Shuji Nakamura from ^the University of California, Santa Barbera (UCSB ).

Due to the time difference between Los Angeles and Kuala Lumpur, Nakamura may be making pre-recorded remarks to share his thoughts on the possibilities for Malaysia in the electronics industry. Prof. Steven DenBaar, his close friend and fellow scientist, will join him on stage and be available to answer questions via video visit from the US.

A former expert at HP before going into education, DenBaar, who has over 150 patents to his name, said he has worked in Penang and visited at least 40 times thus far, and hopes to make another trip immediately.

The guest of honor for Friday’s communication may become Economy Minister, Rafizi Ramli.

As to why a little in demand Nobel Laureate is also knowledgeable of the Digerati50 and would want to talk to a group of Malaysian and Indonesian based ( not all the Digerati50 are Malay, some launched their businesses around or relocated to Malaysia ) members, effectively, we have Jaffri Ibrahim, a Digerati50 who is also CEO of CREST ( Centre for Research in Engineering, Science and Technology ) to thank for.

Jaffri placed a calculated bet on a technology called Gallium Nitride ( GaN ) in 2013 on the back of industry feedback from his board of directors and indications of support from MIDA ( Malaysian Industrial Development Authority ), based on his strong belief that Malaysian talent could be trained to become a top-notch pool of GaN researchers and engineers. Simply put, powerful government support and guidance was required. It was a quest that brought Malaysia into Nakamura’s circle.

The CREST is a surprisingly uncommon Federal Government company that wasn’t based in Kuala Lumpur but focused on architecture and creativity. The powerful silicon belt that stretched from Bayan Bayu in Penang to Kulim High Tech Park in Kedah, as ideal exemplified by the rational decision to be based in Penang, which was established in 2012.

Only the silicon habitat at the time recognized the crucial role Penang played in the world semiconductor value network. It took the pandemic to bring Penang’s place in the global price ring into the forefront.

Bull on Malaysia and Penang’s potential in an increasingly electronics reliant digital market, DenBaar’s says,” Penang is the place to get if you want to start a high-tech business in the silicon ecosystem”.

Yet Jaffri could not have anticipated the astounding effect the RM76.91 million authorities funds he managed to secure, despite his own convictions about the caliber of Malay engineers to take up the GaN problem.

With that money, Universiti Sains Malaysia in Penang and Universiti Malaya in Kuala Lumpur acquired the necessary tools and developed the skills needed for GaN laboratory. At UCSB, Nakamura sponsored 13 students to pursue their PhDs. As of 2021, the GaN skills lake that was created since 2013 includes local experts who were sent to UCSB for six-month periods. It has grown to over 70 as of 2021. More than figures, the laboratories at both colleges are also recognized for their world-class study.

A more quantifiable payback occurred in 2015 when German multinational Osram (via M&amp, A Osram since 2020 has become ams Osram ) made the decision to construct a cutting-edge LED plant in Kulim. The plant opened in Nov 2017 with an investment of €370 million ( RM1.71 billion ), with two future planned upgrades that would take the total investment to €1 billion.

The planned expansions were carried out, and the total investments are in the range of €1 billion ( RM4.6 billion ), as confirmed by an ams OSRAM executive. Given the government’s RM76.9 million cash in 2014, this may result in an indirect gain of 60x.

The decision to choose which country to discover the facility was a key factor, according to the ams OSRAM executive, who was well-versed in the process of choosing which country to find the facility in 2014. ” If you weren’t previously building this professional skill, it didn’t matter what other bonuses you were offering”, he explained.

A Digerati50 from the 2016/2017 book, Jaffri is one of 184, generally founders but with a handful of technocrats like as him, whom DNA editors have freely identified as ‘ Those who will help form Malaysia’s Digital Economy ‘ via our again in two years print and digital version of Digerati50. ( Watch out for the upcoming March edition. )

(L2R): Gobind Singh Deo, Minister of Digital; Karamjit Singh, founder, Digital News Asia; Ramachandran Muniandy, CEO and founder, Merchantrade Asia and co-sponsor of Digerati50 Networking, and Kamarul Ariffin, CEO of Cyberview, Host for Digerati50 Networking, 2024.

Many of them are making similar outsized contributions to Malaysia’s digital economy, that Fahmy Fadzil, Minister of Communications who attended the 2023 Digerati50 networking, hoped would lead to Malaysia becoming a Digital Tiger of Asia.

Gobind Singh, Minister of Digital, who attended the 2024 Digerati50 Networking also echoed this ambition and said his ministry would work together with the Digerati50 to help develop Malaysia into an Asian Digital Tiger.

Rafizi, who is a key supporter of KL20, a statement of Malaysia’s commitment to support and grow a vibrant startup and entrepreneurial ecosystem, is undoubtedly enthusiastic about the plan to transform Malaysia into an Asian digital tiger.

Open to all Digerati50 and invited guests, ^the 6^th Digerati50 Networking will be held on Fri at RekaScape, hosted by Cyberview.

BidNow celebrates token listing on Hata Global and Coinstore

By: Mary Blight

On: January 3, 2025

In: Technology

Achievement features M’sia’s distinct utility token rules
pitchIN’s following key fundraising deal, Frac, now available for investment

From left: Nicholas Chong, vice president of Commercial and Product, Sam Shafie, CEO of pitchIN, Frankie Goh, CEO of BidNow and Mohamed Azahari, chairman of BidNow

pitchIN, Malaysia’s digital fundraising and investment hub, announced that its first successful token crowdfunding (TCF ) campaign, Bid Now, has successfully listed its token,$ BID, on Hata Global and Coinstore. This marks a major breakthrough for pitchIN, Bid Today, and Malaysia’s growing Web3 ecology as the first modern key approved under the Ethereum model to be listed on an exchange.

This success, in the opinion of pitchIN, underscores the merits of Malaysia’s regulatory model, which is one of the few worldwide to regulate fundraising activities using utility tokens. This opens up the door for businesses to start tokens in a legal manner. As a monitored system, pitchIN offers a safe environment for established Indonesian businesses to observe Web3 and enables local Web3 startups to increase seed and growth capital from the public in a regulatory-compliant manner.

” The listing of$ BID represents a significant milestone for regulated token crowdfunding in Malaysia. From key conceptualization to fundraising and listing,” Bid Now has provided an end-to-end road for credible businesses looking to enter Web3,” said Nicholas Chong, vice president of business and product. ” We look forward to continuing to mate with businesses and companies to establish regulatory-compliant digital currencies in Malaysia”, he added.

Investors have the unique opportunity to back modern brands while gaining both financial rewards and visible advantages from sign crowdfunding. For example,$ BID is Bid Now’s native token, designed to deliver value to its holders in several ways:

Power: Token holders receive benefits and rewards, including buying focus, company discounts, and a devotion reward system.
Security and accountability: Blockchain technology guarantees clear transactions and the supply of$ BID.
Return on investment ( ROI ): Potential ROI comes from capital gains made when$ BID is sold on an exchange and from community benefits like airdrops. Buyers also gain access to more active Web3 communities and quicker exits.

Investors can capitalize on potential benefits and additional benefits while supporting Bid Here’s expanding ecosystem by purchasing$ BID tokens, which are currently tradeable.

pitchIN’s following key fundraising deal, Frac, is today pre-live and available for investment. Frac gives businesses the ability to sell online ownership of exclusive assets, turning expensive products like diamonds or brand-name IP into fractionalized investments, opening up new business opportunities for both investors and customers.

To begin investing in approved Web3 offers and technologies, explore pitchIN at www. pitchin. my/token

Maxis, UTAR forge innovative partnership to develop 5G solutions in healthcare and education

By: Mary Blight

On: January 2, 2025

In: Technology

Both parties did observe feasible opportunities for deploying, utilising 5G options
Collaboration may expand to security, green tech &amp, bright school solutions

Prateek Pashine, Maxis chief enterprise business officer (left) and Prof. Dr Ewe Hong Tat, UTAR president

Using Maxis ‘ network infrastructure and technological prowess in addition to UTAR’s reputation as a renowned higher education institution, the two companies, Malaysia’s leading integrated telecommunications company, and Universiti Tunku Abdul Rahman ( UTAR ), to jointly develop 5G solutions.

Maxis stated in a statement that the two organizations would look into economically feasible ways to deploy and use 5G options with an emphasis on development in healthcare and education. Also, the partnership may expand to developing solutions in areas such as cybersecurity, clean technology, and intelligent campus initiatives, even utilising Maxis ‘ powerful network infrastructure.

In healthcare, potential 5G-enabled solutions include remote surgery (telesurgery ), advanced telemedicine, remote consultations, and real-time health monitoring. In terms of knowledge, 5G options aim to enhance the learning experience by providing immersive environments and engaging content distribution. For instance, 5G-powered augmented reality ( AR ) applications could make it possible to access lectures remotely while enhancing the user experience with multimedia content integrated into real-world settings.

The engagement was formalised at a memorandum of understanding ( MoU) filing meeting, where Prof. Dr Ewe Hong Tat, UTAR leader, and Prateek Pashine, Maxis chief business business officer, represented their respective companies.

Prof. Dr Ewe remarked,” I am happy that UTAR is collaborating with Maxis on this innovative quest to build cutting-edge 5G options. This collaboration is in line with UTAR’s determination to funding research and development that addresses pressing issues in healthcare and education. By utilizing the complementary strengths of academia and industry, we may co-create revolutionary solutions that advance societal progress and technology.

Prateek Pashine continued,” Maxis is delighted to partner with a like-minded lover like UTAR as we explore the possibilities that 5G technology has opened up.” Healthcare and education are critical areas that need future-ready thoughts, and industry-academia collaborations like this will promote development. Through Maxis Business, we aim to help 5G solutions that change healthcare delivery and education environments, making them more powerful, visible, and tailored”.

This partnership builds on earlier initiatives by Maxis Business, Maxis ‘ B2B arm, to encourage businesses in Malaysia to adopt 5G and 5G-Advanced solutions. Maxis Business remains committed to being the digital business partner of choice by offering end-to-end connectivity and connectivity-plus solutions.

UTAR selected Maxis to provide high-speed internet to its Sungai Long and Kampar campuses in 2019. Maxis provided these campuses with connectivity solutions that made it possible for UTAR to seamlessly scale bandwidth in response to much higher speed requirements as a result of the collaboration.

From saunas to success: Lessons for Malaysia’s ecosystem from Finland’s startup & VC journey

By: Mary Blight

On: December 29, 2024

In: Technology

Govt-entity TEKES was big motivator to Scandinavian world’s success account
Malaysia on proper record, won’t take as long as Finland did to reach maturity

In the early 2000s, Finland lacked sufficient private venture capital and angel investment for early-stage startups. TEKES (since rebranded to Business Finland) provided crucial grants, loans, and investments, enabling startups to survive and grow.

From saunas to success: Lessons for Malaysia’s ecosystem from Finland's startup & VC journey When my British university professor gave me a copy of” The Google Story,” twenty years ago, I began my entrepreneurial journey in Helsinki, Finland’s capital. I finished it in one sitting because I was thus captivated by it. I even wanted to own such a business. But people kept telling me:” You are not in Silicon Valley”.

They were correct when they said that Finland hardly had any private money to do high-risk, innovative businesses after the dot com bubbles burst a few years before. Additionally, there was the added problem of looking to global markets from day one because the Finnish business was so small ( only 5 million people ).

20 years after, Finland is now in the lead in terms of personal money in terms of GDP. We have seen rainbows such as Supercell, and Wolt, as well as a good network of Soonicorns quite as Iceye, Swappie. I’m pleased to discover Finland doing well, but since I’m now setting up my business in Malaysia, I can’t help but notice significant similarities between the business ecosystem there that is still developing and the one I saw 20 years earlier.
Looking back, if I was to point out a major catalyst to Finland’s success story of the last 20 years, I would not find any better example than a government-entity called TEKES ( now rebranded to Business Finland ) which would be akin to a modern day Khazanah, although not exactly a sovereign wealth fund.

TEKES, which was funded by Finnish taxpayers periodically, has previously had a significant impact on the development of the business ecosystem in Finland, contributing to a number of positive outcomes that might not have been realized without its existence.

What are some of the main efforts and effects?

1. Kickstarting the Scandinavian business ecology

Initial funding gaps filled: In the early 2000s, Finland lacked adequate private venture capital and angel funding for early-stage companies. TEKES provided critical offers, money, and purchases, enabling businesses to survive and grow.

Encouraging risk taking: By de-risking early-stage development ^through cash, TEKES encouraged companies to do ambitious jobs, fostering a culture of development and risk taking. Additionally, since 2010, Finland has annually observed ^the” National Day of Failure” on October 13 to honor ^the achievements of failed businesses and end ^the stigma ^that surrounds entrepreneurs who have previously failed. On ^this day, you’ll frequently see bo^th recently failed and most successful groups converge on ^the level and treated to equal respect.

2. Enabling world victory reports

Startups like Rovio and Supercell: Companies such as Rovio ( Angry Birds ) and Supercell ( Clash of Clans ) received support from TEKES during their formative years. Without this money and assistance, their world success stories might not have been feasible.

Greater impact on industries: TEKES-supported startups helped placement Finland as a gateway for gambling and wireless technology innovation.

3. fostering a culture of innovation and individual capital

Support for education: Through funding initiatives like Aalto Entrepreneurship Society, which afterwards founded Slush, TEKES created a new era of tech-savvy business owners.

Innovative mindset: It encouraged Estonian citizens to view entrepreneurship as a practical and prominent career path when formerly working for a huge multinational was the preferred career path.

4. Development of supporting buildings

Startup Sauna and other accelerators and incubators: TEKES provided funding for the establishment of accelerators and incubators, which afterwards became crucial for connecting Scandinavian startups to international networks.

Ecosystem Growth: TEKES ‘ investments in local innovation ecosystems have had a direct and indirect impact on efforts like Slush, one of the largest startup activities ever held worldwide.

5. Attracting international funding

International attention: By nurturing companies with high-growth possible, TEKES made Finland attractive to foreign investors, bringing much-needed walk funds into the ecosystem.

Scaling internationally: TEKES’ programs like the Young Innovative Companies ( NIY ) helped Finnish startups expand globally, making Finland a recognized innovation hub.

Fun truth: my first business, Muxlim, was a member of the TEKES Young Innovative Businesses program, which eventually won the President of Finland’s nomination for internationalization. It enabled us to consider international from first on and lift our ambition&nbsp, to&nbsp, the&nbsp, potential.

6. societal impact and sustainability

Green technology command: TEKES invested considerably in green technologies, making Finland a chief in areas like bioeconomy and solar energy solutions. Malaysia needs to find the strengths-matching niches and work with them until they are powerful worldwide.

Advances with social effect: By supporting education and health technologies, TEKES promoted enhancements that improved the quality of life in Finland and worldwide. Akin to Khazanah’s Dana Impak.

There were so many beneficial outcomes that might not have been possible without TEKES.

Allow me list four of them.

Avoidance of Brain Drain: Without financing and habitat support, Scandinavian talent does had moved abroad in search of better opportunities. Our guest speaker there introduced his talk by saying,” I’m assuming you are all looking to relocate to Singapore eventually,” during a recent trip there with other Malaysian startups.

Gaming Industry Boom: TEKES ‘ funding provided a foundation for Finland’s thriving gaming sector.

Technology Transfer: Without TEKES ‘ assistance, collaborations between academia and industry might not have been as successful.

Innovation Culture: Finland’s transformation into an innovation-driven economy owes much to TEKES ‘ ability to fund high-risk, high-reward projects.

The strategic investments made by TEKES helped to cement Finland’s position as a leader in global innovation, demonstrating its worth as a pillar of the country’s entrepreneurial ecosystem.

Meanwhile, in Malaysia…

Looking back over the past few weeks in Malaysia, I believe there is a missing message in the national conversation. No one is discussing why every country needs to get ready for an innovation-driven future. The job market is about to be drastically disrupted by the advent of AI, automation, and robotics. There will be unheard challenges for people all over the world, not the least of which is the shrinking job market, combined with the overburdened public sector in many nations around the world and the threats of climate change.

Entrepreneurship is key to creating jobs and sustaining in the face of job insecurity, climate displacement, geopolitical tensions, and technological disruption.

Of course, private capital is the ideal driver for innovation. But, based on Securities Comission Malaysia data, early-stage investing has retreated in Malaysia between 2011-2021, while in Finland it grew from US$ 112 million in 2011 to US$ 1.2 billion by 2021.

Sometimes, private capital is too risk-averse, so the government or government linked investment funds need to fill the gap until the ecosystem is stabilized. Nascent ecosystems don’t play by the same rules as developed ecosystems, hence initiatives like Khazanah Dana Impak, Khazanah’s Jelawang Capital venture capital fund of funds initiatives as well as Kumpulan Wang Persaraan ( Diperbadankan ) ( KWAP )’s Dana Perintis ( RM500 million for venture capital funds and direct investments ) and Dana Pemacu ( RM6 billion for private equity ) are critical to provide badly needed growth funds for startups across various stages.

Yes, early-stage investing is risky, and there will be some failures. In light of the changes that our world and the world’s community are facing, the risk of not investing is even greater. So in times like this, we need to be armed with strong ambition, infectious positivity and resourceful execution. I can only say that I think Malaysia is on the right track and that it will take less time to mature than Finland.

Mohamed” Mo” Tarek El-Fatatry is the Soonicorn Collective’s founder, the host of the Soonicorn Nation Podcast, and the founder of ERTH.

Dr. V Sivapalan contributed to the article. He has a Ph. D in Venture Capital from University of Edinburgh, Scotland, is Co-Chairman of Soonicorn Collective and Adjunct Professor in the School of Science and Technology, Sunway University. He is the author of the book Supercharge Your Startup Valuation. Visit his website for more of his writings.

Pikom champions Malaysian talent and innovation on the global stage

By: Mary Blight

On: December 27, 2024

In: Technology

Achievements emphasize Malaysia’s various talent pool
Urges M’sian skill to add international competitions for entry, mentoring &amp, funding

WCIT 2024 Armenia. (Left) - Dr. Sharlene Thiagarajah, CEO of TM Research & Development with Loo Chuan Boon, COO of SIDEC. (Right) - Yanni Xinyan Ching, co-Founder Entomal Biotech, Khairul Anwar Mohamad Zaki, founder, Pandai Education with WITSA chairman Dr. Sean Siah.

The National Tech Association of Malaysia, or Pikom, has announced that in 2024, Malaysian skills and firms have shown innovation and excellence. Through proper affiliations and involvement in prominent international competitions, the company has positioned Malaysia as a gateway of cutting-edge systems, innovation, and skill.

Alex Liew, president of Pikom, stated:” This is truly a testament to Malaysian businesses and people making ripples in the global technology industry. Pikom is pleased to give them the opportunity to thrive and be proud of their accomplishments.

At the WITSA Excellence Awards 2024 held in Armenia this history October, Malaysia achieved major successes, including:

Selangor Information Technology &amp, Digital Economy Corporation receiving the Digital Opportunity/Inclusion Award ( Public Sector ) for its impactful SME Digitalisation programmes.
For their mobile intelligent network diagnostic system, Telekom Research &amp, Development Sdn Bhd won the Digital Transformation of the Year ( Private Sector/NGO ) award.

Dr. Sharlene Thiagarajah, CEO of TM Research &amp, Development, expressed her delight in the accomplishment:” This medal reflects our determination to innovation and the transformational power of technology in driving the modern economy and solving real-world challenges”. She also emphasized the worth of WCIT 2024, calling it an amazing software to network with top international technology companies, display innovations, and advance capabilities.

The event even hosted the second WITSA World Cup, a world scale-up pitching competition for which Indonesian businesses Pandai Education and Entomal Biotech were nominated by Pikom after being chosen to win the top two places, defeating 14 other challengers from all over the world. This program provided great global market entry, mentorship, and exposure to business capital for participants. &nbsp,

Entomal Biotech’s Yanni Xinyan Ching commented,” Making it to the last two was a big win for Malaysia as well as for us. Malaysia’s rise as a major technology and innovation hub is evidenced by the recognition of our innovations on such a global scale. And we owe so much to the habitat that has nurtured us—our companies, coaches, and great give support”.

At the ASOCIO Digital Summit in Tokyo, Indonesian technical experts, agencies, and corporations nominated by Pikom were recognised with the esteemed ASOCIO DX Honours for their outstanding contributions to modern change. Award beneficiaries included:

Digital state award from the Ministry of Digital
Heitech Padu Berhad won the Heitech Padu Berhad Digital Government Award.
National Cybersecurity Agency ( NACSA ) – Cybersecurity Award
Glocomp Systems ( M ) Sdn Bhd – Cybersecurity Award
Malaysia Digital Economy Corporation ( MDEC ) – Public/Private Partnership Award
Cyberview Sdn. Bhd. – Smart City Award
Outstanding Tech Company Award from VSTECS Berhad
EdTech Award from PEOPLElogy Development Sdn Bhd
Ms. Catherine Lian of IBM – Women In Tech Award

These honors demonstrate Malaysia’s ability to use modern technology to advance both economically and socially.

In November, at the APICTA Awards 2024 held in Brunei, Malaysia’s contenders continued their successful run, with five firms securing top-three runs and two others earning Merit honours:

Winner of Artificial Intelligence Category: myQuickHR Sdn Bhd for HR Avenue ( AI-powered Talent Acquisition solution ).
Second Runner-Up for Digital Marketing/Advertising and Marketplaces: CARSOME.
Second Runner-Up for Agriculture, Supply and Sustainability: Meraque Services Sdn Bhd for Hybrid AGV- RACE.
Following Runner-Up for AI: NEXLAW AI.
Second Runner-Up for Senior Student Projects-Solutions: Wesley Methodist School Penang ( International ) for Read Right.
Merit for Senior Student Projects-Applications: Foon Yew High School for Obstacle Detection System.
Merit for Junior Student Projects: SJKC Yuk Chai for SmartCycle BioFuel.
These achievements reflect Malaysia’s different and powerful talent pool, spanning from primary school students to scale-ups, people organizations, and private organisations. Additionally, they highlight the country’s exceptional use of technology in resolving problems in the real world.

A 2025 Call for Action
As it looks ahead to 2025, Pikom invites Malaysian talents, businesses, and innovators to seize the opportunity to participate in global competitions. These platforms not only recognise excellence but also provide unparalleled access to international markets, mentorship, and funding opportunities.

The success of Malaysian businesses and talents on the global stage demonstrates the country’s leadership in technology and innovation. ” Pikom continues to be steadfast in its mission to promote Malaysia’s capabilities and encourage greater participation in international events,” Liew said.

Mary Blight (Page 3)