MyDigital, Bursa Malaysia pen Memorandum of Collaboration to drive ESG innovations through digital transformation

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  • signed MoUs with 5 PLCs in Malaysia
  • MoC helps govt’s push for companies to promote ESG goals through online transition

Left to Right: Gobind Singh Deo, minister of Digital; Adrian Marcellus, CEO of MyDIGITAL Corporation; Muhamad Umar Swift, CEO of Bursa Malaysia; and Abdul Farid Alias, senior independent non-executive director of Bursa Malaysia at the Memorandum of Collaboration Signing Ceremony Between MyDIGITAL Corporation and Bursa Malaysia.

MyDigital Corporation and Bursa Malaysia Berhad have entered into a Memorandum of Collaboration ( MoC ) to empower Public Listed Companies ( PLCs ) in Malaysia to achieve their Environmental, Social, and Governance ( ESG) goals through the adoption of digital technologies. Through the Malaysia Centre4IR ESG Innovation Challenge, which was announced last month, the MoC formalizes the two factions ‘ previous engagement.

The MoC was signed by Umar Swift, CEO of Bursa Malaysia, and Adrian Marcellus, CEO of MyDIGITAL Corporation and head of the Malaysia Centre for the Fourth Industrial Revolution ( MYCentre4IR ). The filing meeting was witnessed by Gobind Singh Deo, Minister of Digital Malaysia, and Abdul Farid al Alias, Senior Independent Non-Executive Director of Bursa Malaysia.

The MoC supports companies in accelerating their ESG excursion through online transformation by working with the government through the Ministry of Digital. In particular, there is an emphasis on the need for Fourth Industrial Revolution ( 4IR ) technologies to be at the forefront of this transformation, enabling corporates to address pressing challenges, the parties stated in a statement.

Under the context of the MoC, MyDigital Corporation and Bursa Malaysia did examine a range of activities, including:

    Co-Authoring Thought Leadership Publications: Leveraging the Malaysia Centre for the Fourth Industrial Revolution ( MYCentre4IR ) network, in affiliation with the World Economic Forum ( The Forum ), to produce content on sustainability, green supply chain management, digital transformation, and other related fields.

  1. Best Practices Exchange: Facilitating information exchange between Bursa Malaysia, MYCentre4IR, and The Forum on important matters related to conservation and natural activities.
  2. Hosting the Malaysia Centre4IR ESG Innovation Challenge: An development issue that connects Malaysian PLCs with vivid imaginations and promising companies and entrepreneurs from all over the world. The objective is to find creative solutions that address business issues, which might lead to an increase in business competitiveness and benefiting businesses and the atmosphere.

Gobind commented,” This event is testament to our government’s continued digital conversion trip. Additionally, it demonstrates the government’s strong desire to place ecology at the center of our growth plans.

He added,” I was pleased to read that the article addressed Bursa Malaysia’s requirement for publicly-listed companies to disclose their sustainability practices in their annual reports. In truth, the article also highlighted the Malaysia Centre4IR ESG Innovation Challenge. The initiative exemplifies how partnerships and innovation can contribute to important environmental progress, the organization continued.

Commenting on the engagement, Umar Swift said,” At the Exchange, we have long recognised online acceleration as a vital enabler for driving sustainable development and competitive benefit among Indonesian companies. This MoC with MyDigital Corporation is a positive move in our efforts to spread the concept that ESG and digitalization go hand in hand to promote sustainable development.

” We anticipate that the collaboration’s activities will encourage and motivate more businesses to use digitalization features to enhance their entire ecology performance and operational efficiency,” he added.

Adrian Marcellus remarked,” Tomorrow’s MoC with Bursa Malaysia is a crucial step in our shared goal to improve conservation through electronic technology. We want to promote sustainability and collaborate to create a more adaptable and future-ready modern surroundings by leveraging MYCentre4IR’s partnership with the World Economic Forum.

” We look forward to the Malaysia Centre4IR ESG Innovation Challenge and the thought-leadership and capacity-building activities that will be part of this partnership with our anchor business lovers,” he continued.

MoUs with 5 Malaysian PLCs

At the signing of the MoC, MyDigital Corporation also signed Memoranda of Understanding with five Malaysian PLCs, including CJ Century Logistics Holdings Berhad, Globetronics Technology Berhad, Malayan Banking Berhad, REDtone Digital Berhad, and Sunway Innovation Labs ( representing Sunway Group ).

These MoUs are an extension of the preceding MYCentre4IR Innovation Challenge. On November 7, 2024, the Innovation Challenge will result with a Demo Day at Bursa Malaysia, where five of the most promising suggestions may receive funding opportunities for pilot projects as well as access to a community of business leaders and traders.

Visit the Malaysia Centre4IR ESG Innovation Challenge’s website for more details and how to take part.

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MDEC’s FOX programme hits the spot for Respond.io and Juwai-IQI Holdings as they scale globally

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Standfirst: MDEC’s FOX initiative builds adaptable firms with strong elements

Gerardo Salandra of Respond.io (2nd from left) speaking on a Gen AI panel at the recent Endeavor Future Forum 2.0

Gerardo Salandra and Georg Chmiel have many similarities, most notably their involvement in the Malaysian Digital Economy Corporation’s ( MDEC ) Founders Centre of Excellence ( FOX ), a multifaceted initiative designed to promote the development of high-potential Malaysian tech companies.

The national strategic initiative of Malaysia Digital ( MD), which aims to promote and grow domestic tech companies to become unicorns by 2025, is a part of the FOX program. The Squirrel program assists these organizations by fostering a robust support system and providing targeted resources, as well as strengthening their business basics and proper capabilities.

Both Georg and Gerardo are Malaysian-born foreigners who are launching international firms in a quick manner. Despite being offered relocations by other nations, they decided to stay because they believed Malaysia offers everything they need to develop their startups, even before the Squirrel program was introduced in March 2023.

Gerardo, from El Salvador, started his Business-to-Business Software as a Service ( B2B SaaS ) company in Hong Kong and then, deciding that being in Hong Kong was not going to help him achieve his dream of building a global company, picked Malaysia as his base.

I met some MDEC people at a conference and learned about their amazing service, the Malaysian Tech Entrepreneurs Pass ( MTEP), which allowed me to obtain a five-year work visa for myself. I mean, five times? Nothing gives you a five-year immigration. That is enough time for me to develop a business”, he said. &nbsp, &nbsp, &nbsp,

In contrast to Gerardo, Georg was now well-versed in Malaysia when he assumed the position of Group Managing Director of iProperty in the middle of 2010. Georg is now aiming to build his subsequent home tech success as co-founder and executive president of Juwai IQI Holdings after successfully witnessing the price of iProperty to Australia’s REA Group, where he previously served as CFO.

Georg has seen a lot of government programs designed to promote business growth, but also he is impressed by the FOX program despite having over 25 years of experience in actual estate across Australia, Asia, and now Malaysia. ” To placed it clearly, this is like joining a top concierge service. Simply ask a topic and you get pointed in the right direction”, he says.

Juwai IQI's senior leadership team together with MDEC representatives at the recent launch of Juwai IQI’s global headquarters

Besides the concierge-like services that he feels is a striking feature of MDEC’s FOX program, Georg, who does a good bit of exploring, has noticed anything interesting about the effects of the programme.

When I say we were chosen to be a part of the program and explain how it works, he says, “people see us diversely.” The development of the FOX program, which aims to aid in the growth of its businesses, demonstrates Malaysia’s desire to contribute more to the world’s modern economy. ” This opportunities Malaysia as an impressive state, in the eye of outside shareholders. And that gains us”, he explains. &nbsp,

That perception shift that Respond .’s testimonials demonstrate. Malaysia’s reputation is improved by Juwai IQI and Juwai IQ. However, MDEC’s work via the FOX program has assisted high-growth businesses to expand into global companies, and possibly unicorns. More businesses outside Malaysia may acquire Malaysia as their base to expand into global businesses as a result of the businesses ‘ decision to stay there after they achieve great success.

If the passionate comments from Georg and Gerardo is any indication, the FOX project, in this early stage, seems to be pressing all the right keys for its businesses.

It appears that the program thoroughly selects the businesses it needs to be assisting most. It continues to expand its reach, overcoming first failures with a lot of messages and information until it managed to grab Gerardo’s attention and convince him to sign up for the program.

Gerardo reflects,” As a leader, I understand the need for regular self-improvement and development. But as a business leader, the emails, messages, names, and discussions never seem to stop. When I return to the office after this meeting, I’ll be greeted with a stack of things demanding my interest. But, when is there time to focus on specific growth”?

With some very proper partnerships with international outfits, MDEC appears to have captured the attention of founders and their top leadership teams, making this a fact that the Squirrel program has integrated. &nbsp,

One of these engagements, with Ernst &amp, Young Malaysia ( EY Malaysia ), even changed Gerardo’s perception of consultants. You have a tendency to think that professionals are pricey and unable to deal with business challenges, so I would never have paid for them.

However, Gerardo and his management staff have come to appreciate the value of consultants because of his work with EY and the EY 7 Motorists of Growth Framework dynamic research conducted. ” And today, we do pay for consultants” .&nbsp, &nbsp,

Being connected to members who have effectively built B2B SaaS businesses like his was an even greater benefit of Gerardo’s subjection to his FOX program. This face it, not many people in Malaysia or the surrounding area may pertain to the difficulty of expanding a B2B company like me. Who may I call to make a enable request?

Gerardo has greatly benefitted from MDEC’s tie-up with Initiative via the Malay office in this regard. He was connected to the C-suite executive of a B2B SaaS business with a European address thanks to the Squirrel program. In order to pursue his goal of entering the Middle East market himself, he also had the opportunity to speak with the leader of a significant Middle Eastern company. Gerardo himself is currently pursuing joining Endeavor Malaysia despite having meetings that are ongoing and how valuable they were.

The Squirrel program strengthens Malaysia’s position to expand internationally and lead technical innovation by fostering strategic partnerships and constant outreach.

For more information on MDEC and its schemes, choose visit www. mdec.com. my

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MDEC’s FOX programme hits the spot for Rocketbots and Juwai-IQI Holdings as they scale globally 

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  • Initiative aims to help firms expand growth, grow into global businesses
  • Helps high-potential businesses and boosts Malaysia’s world ramping and development

Gerardo Salandra of Respond.io (2nd from left) speaking on a Gen AI panel at the recent Endeavor Future Forum 2.0

Gerardo Salandra and Georg Chimel have a lot in common, most notably their participation in the Malaysia Digital Economy Corporation’s ( MDEC ) Founders Centre of Excellence ( FOX ), a multifaceted program designed to promote the development of high-potential Malaysian based tech companies. &nbsp,

Both of them are foreigners who are rapidly expanding world businesses from Malaysia. Both have received offers from different nations to move ahead from Malaysia, but both turned them down because they believe they have all the necessary infrastructure in place in Malaysia to support their businesses. And this was yet before FOX, launched in March 2023, came into the image. &nbsp,

Salandra, from El Salvador, started his Business-to-Business Software as a Service ( B2B SaaS ) company in Hong Kong and then, deciding that being in Hong Kong was not going to help him achieve his dream of building a global company, picked Malaysia as his base. &nbsp,

” I now had a few employees here, but I finally met some MDEC employees at a meeting and learned about the incredible service they offered to members called the Malaysian Tech Entrepreneurs Pass ( MTEP), through which I received a five-year work visa. I mean, five times? Nothing gives you a five-year card. That is enough time for me to create a business”, he said. &nbsp, &nbsp, &nbsp, &nbsp,

Contrary to Salandra, Chimel was now well-versed in Malaysia when he assumed the position of iProperty’s team managing director in the middle of 2010. After successfully completing the sale of iProperty to Australia’s REA Group, where he previously held the position of chief financial officer ( CFO ), Chimel now intends to establish his second property technology success as co-founder and executive chairman of Juwei IQI Holdings. &nbsp,

With over 25 years of real estate expertise in Australia, Asia, and presently Malaysia, Chimel has seen a lot of government initiatives that aim to promote business growth, but FOX still impressed him. ” To set it clearly, this is like joining a top concierge service. Simply ask a problem and you get pointed in the right direction”, he says. &nbsp,

Juwai IQI's senior leadership team proudly accepted the award for Malaysia's Largest Proptech company at the glamorous Malaysia Digital Expo 2023 Awards Night from Minister of Communications Fahmi Fadzil

Besides the concierge-like services that he feels is a striking feature of FOX, Chimel, who does a good bit of exploring, has noticed anything exciting about the effects of Wolf. &nbsp,

When I say we were chosen to be a part of the program and explain how it works, he says, “people see us diversely.” Rabbit was established with the intention of assisting in the development of its businesses, which speaks to Malaysia’s desire to contribute more to the global digital economy. ” This opportunities Malaysia as an impressive state, in the eye of outside shareholders. And that rewards us”, he explains. &nbsp, &nbsp,

That change in perception even gives the country a social improve, acknowledgesMDEC’s FOX programme hits the spot for Rocketbots and Juwai-IQI Holdings as they scale globally ( pic ), head of Digital Exports, MDEC. We are hoping to galvanise more businesses outside the country by using our efforts to help our FOX businesses become international businesses and finally to encourage unicorns to stay in Malaysia after they become extremely successful.

If the passionate comments from Chimel and Salandra is any indication, FOX, in this early period, seems to be pressing all the right buttons for its companies. &nbsp,

It appears that the program thoroughly selects the businesses it needs to be assisting most. It continues to expand its mentoring work, overcoming initial disappointments with a lot of emails and messages until it succeeded in capturing Salandra’s focus and persuading him to sign up for the program.

Salandra reflects,” As a leader, I understand the need for regular self-improvement and development. But as a business leader, the emails, messages, names, and discussions never seem to stop. When I return to the office after this meeting, I’ll be greeted with a stack of things demanding my interest. But, when is there time to focus on specific growth”?

With some very proper partnerships with international players, MDEC appears to have captured the attention of owners and their senior management teams, a reality that MDEC has embedded into FOX. &nbsp, &nbsp,

One of these engagements, with Ernst &amp, Young Malaysia ( EY Malaysia ), even changed Salandra’s perception about consultants. You might think professionals are pricey and unable to handle business problems, but I would never have paid for them.

However, Salandra and his management staff have come to understand the value of consultants because of his encounter with EY and a competitive evaluation it conducted using the EY 7 Drivers of Development Framework. ” And today, we do pay for consultants” .&nbsp, &nbsp, &nbsp,

Being connected to members who have effectively built B2B SaaS businesses like Salandra’s was an even greater benefit of his FOX coverage. Let’s face it, not many people in Malaysia or the surrounding area are able to handle the difficulty of expanding a B2B company nationally. Who can I pick up the phone to ask for help” ?&nbsp,

This is where Salandra has benefited greatly from MDEC tying up with Mission via the Malaysian business. He was able to communicate with the C-suite administrative of a B2B SaaS business with a German address owing to FOX. In order to pursue his goal of entering the Middle East market himself, he also had the opportunity to speak with the leader of a significant Middle Eastern company. Salandra himself is currently in the process of joining Endeavor Malaysia despite both ongoing conversations ( which are ongoing ) and the incredible value he received. &nbsp,

FOX strengthens Malaysia’s position to grow worldwide and become a leader in modern innovation by fostering strategic partnerships and relentless outreach.

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WOU empowers students with unlimited access to 80 curated Gen AI courses across all its academic programmes

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  • Coursera and Gen AI training curriculum created in collaboration.
  • aims to give adult learners AI expertise for a rapidly changing world environment.

WOU empowers students with unlimited access to 80 curated Gen AI courses across all its academic programmes

By providing unrestricted access to 80 curated Generative Artificial Intelligence ( Gen AI ) courses, Wawasan Open University ( WOU) has made a decisive step in educating its students on the essential skills needed for the digital economy. In a statement, the school said these courses, applicable to both new and current students, course a wide range of AI-related issues, from basic concepts to advanced applications in Business, Digital Transformation, and Science, Technology, Engineering, and Mathematics (STEM) fields.

Through this program, WOU aims to provide adult learners with the Artificial expertise they need to succeed in a world where artificial intelligence is transforming the way that business is run in an extraordinary way. This initiative embodies its commitment to offering versatile, high-quality education to ensure that its students are future-ready to succeed in a quickly evolving business environment as well as being prepared for the workforce of today.

WOU empowers students with unlimited access to 80 curated Gen AI courses across all its academic programmesAccording to Professor Dr. Dr. Lily ( pic ), chief executive and vice-chancellor of WOU,” Today, AI stands at the forefront of technological innovation, driving unprecedented levels of investment and transforming industries across the globe. In 2023 alone, generative AI attracted globally over US$ 21.8 billion ( RM95.3 billion ) in funding, reflecting its critical role in shaping the future of work. This explosive growth is not just a fad, but it represents a fundamental change in how businesses operate, develop, and thrive on a global scale.

She added that in Malaysia, the AI market is also poised for promising growth, with an anticipated annual growth rate of 31 % from 2024 to 2032 and a forecasted market value of US$ 3.23 billion ( RM14 billion ) in key areas such as machine learning, data mining, and analysis. In response to this, WOU is introducing a complete spectrum of Gen AI programs to help solve the anticipated rise in demand for an AI-skilled labor on the home front.

In addition, Chan said,” Our AI program effort also aligns with the president’s MyDigital Blueprint to improve the AI ecology and to cultivate AI startups as part of its plan to become a modern economy leader in the region.”

” All of our students will have access to the 80 Gen AI programs as a pleasant advantage.” This means that any student who enrolls in a diploma, graduate, or graduate program with WOU will immediately be able to take any of the AI learning opportunities we have available. Students will be able to log in to our instinctive Flex Learn online portal at any time to take any AI courses from the sixty that best fit their individual career paths and learning needs, she added.

  • Students can enroll in AI programs that cover four distinct categories:
  • Foundation in Gen AI: Ideal for beginners, these programs offer a good introduction to key AI principles and basic programs.
  • AI for Business: Tailored for business professionals and businesses, these programs observe how AI may enhance business strategies and drive technology.
  • AI in STEM: Aimed at those in science, technology, engineering and algebra, these programs focus on using AI to improve research and development.
  • AI in Digital Transformation: These courses provide useful insights into how Artificial drives modern transformation across different industries, helping learners utilize AI properly.

Each of the Gen AI programs offers a unique opportunity to advance their AI expertise and knowledge. For example,” Introduction to Generative AI” allows students to gain a solid foundation in AI principles while engaging with tools like GitHub Copilot and DALL-E. For those focusing on marketing,” Integrating GenAI into Data-Driven Marketing Strategies” reveals how AI enhances marketing through improved insights, personalisation, and campaign effectiveness. Also, the” ChatGPT Advanced Data Analysis” program enables students to improve their productivity by automating data analysis and material creation, even without due programming knowledge. More supporting learners is the course” Introduction to AI and Machine Learning on Google Cloud,” which teaches students how to develop AI and machine learning projects that are specifically designed for their career objectives. The research paper” Generative AI: Business Transformation and Career Growth” examines the profound effects of AI on different career paths and business, revealing how AI can reshape business methods and create new opportunities for professional development.

The education for the Gen AI training at WOU was created in collaboration with Coursera, a leading provider of online learning, on a global scale. This association ensures that the school’s courses are at the vanguard of AI training, adhering to the highest international requirements. With access to some of the most cutting-edge AI courses available today, Cousera’s considerable expertise and resources match WOU’s commitment to providing world-class training.

WOU’s September intake enrollment is now open. When new students sign up for any WOU diploma or degree program for this intake, they can take advantage of this offer. With plans to incorporate accredited AI courses into the core curriculum of its major degree programmes by 2025, WOU will continue to lead the charge in AI education, making sure its students are future-ready in an increasingly AI-driven world.

For more information or inquiry on WOU’s GEN AI unlimited offering, visit www. wou. edu. my

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Eddie Chau joins Vizzio Technologies’ Board of Directors

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  • Founded 6 startups, exited tw2o, and mentored  numerous startups in S’pore
  • Brings 3 decades of entrepreneurship, tech & community leadership to Vizzio

Eddie Chau joins Vizzio Technologies' Board of Directors

Vizzio Technologies has announced the appointment of Eddie Chau (pic), a well-known figure in Singapore’s technology sector, to its Board of Directors.

According to the company, Chau, with over three decades of notable achievements in entrepreneurship, technology, and community leadership, brings a wealth of expertise to Vizzio. As chairman of the Singapore Standard Council’s Coordinating Committee for Cyber Security, Chau has played a pivotal role in shaping Singapore’s cybersecurity landscape.

Chau’s career includes founding six startups, successfully exiting two, and serving as a mentor to numerous startups in Singapore. His commitment to community service is evident through his involvement with various non-profit organisations, including Mount Alvernia Hospital, raiSE, and One Faber Group.

Recognised as the “IT Leader of the Year 2018” by the Singapore Computer Society and inducted into its “Hall of Fame 2022,” Chau’s accolades highlight his exceptional leadership in technology.

At Vizzio Technologies, Chau’s strategic insights and extensive network will be instrumental as the company continues to drive innovation and growth in the technology sector. His experience with successful ventures such as e-Cop, Brandtology, and V-Key underscores his ability to identify and capitalise on emerging opportunities.

The company extends a warm welcome to Chau and looks forward to achieving new milestones with his expertise guiding its future endeavours.

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Cradle, Invest India form alliance to strengthen startup ecosystems in both nations 

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  • Partnership aims to boost tech startup collaboration in both nations
  • Matchmaking programmes aim to generate US$23 mill in investments, contracts 

The exchange ceremony was represented by Norman Matthieu Vanhaecke, Group CEO of Cradle (2nd from left),, and Shri Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India (2nd from right) , witnessed by Tengku Zafrul Tengku Abdul Aziz, Malaysia’s minister of Investment, Trade and Industry (middle)

Cradle Fund Sdn. Bhd. (Cradle), the focal point agency for Malaysia’s startup ecosystem, and Invest India, an investment promotion and facilitation agency under the Government of India, have exchanged a Letter of Cooperation (LOC) to establish the India-Malaysia Startup Alliance (IMSA) through Startup India. This strategic partnership aims to foster greater engagement and collaboration among technology-based startups in both nations.

Startup India, a flagship initiative of Invest India, intends to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. The initiative, established under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India, plays a crucial role in facilitating foreign investment into its country and promoting its economic growth.

Commenting on the LOC between the two agencies, Chang Lih Kang, minister of Science, Technology, and Innovation (MOSTI), said, “India and Malaysia have benefitted from the long-standing relationship built on mutual respect and shared prosperity. This alliance between Cradle and Invest India is a natural extension of our strong economic and commercial ties.

“As Malaysia ranks among India’s top trading partners, this partnership will encourage local startups to venture into India’s 1.4 billion-strong market and will also provide pathways for quality Indian startups to penetrate the ASEAN market through Malaysia. This is aligned with the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, and its aspiration to place Malaysia among the top 20 global startup ecosystems by 2030,” he added.

Norman Matthieu Vanhaecke, Group CEO of Cradle, emphasised that, “This alliance between Cradle and Invest India, a first for both countries, not only strengthens our mutual commitment but also fosters a closer, more impactful, and sustainable cross-border tech entrepreneurial synergy, driving transformative growth in India and Malaysia’s startup ecosystem,” he said.

The LOC exchange ceremony was held in New Delhi on 21 August 2024, in conjunction with Malaysia’s official visit to India, led by Prime Minister Anwar Ibrahim. This alliance is envisioned as the primary bilateral framework for startup and innovation engagement between the two countries.

The exchange ceremony was represented by Norman of Cradle and Shri Sanjiv, joint secretary, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India, witnessed by Tengku Zafrul Tengku Abdul Aziz, Malaysia’s minister of Investment, Trade, and Industry (MITI).

Over the next year, IMSA will focus on enhancing mutual awareness of the development of startup ecosystems in Malaysia and India, emphasising government interventions, industry collaboration, and university engagement.

Key initiatives under IMSA will include virtual capacity-building sessions, knowledge-sharing events, and the facilitation of startup matchmaking programmes. These efforts will culminate in the participation of Malaysian and Indian delegations, as well as other startup ecosystem players, at major events such as the Startup Mahakumbh 2025 and the ASEAN-India Startup Festival 2025, to be held in Kuala Lumpur as part of the country’s ASEAN Chairmanship.

The matchmaking programmes are targeted to catalyse investment and commercial contract value close to US$23 million (RM100 million) from potential venture capitalists and corporates between ASEAN and India. Additionally, these programmes will connect startups with relevant stakeholders to explore opportunities for market expansion, research and development, and deeper industry collaboration.

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EDB commits additional US.5 million funding, facilitates partnerships with startups

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  • EDB has so far helped 24 firms build 14 projects, with more to travel
  • To work with 9 companies to reduce collaborations between S’pore companies &amp, business

EDB commits additional US$24.5 million funding, facilitates partnerships with startups

The Singapore Economic Development Board ( EDB) is committing US$ 24.5 million ( RM106 million ) in fresh funds over the next two years to continue driving corporate venturing in Singapore. The organization stated in a statement that the third edition of the Corporate Venture Launchpad ( CVL 3.0) also aims to facilitate the formation of partnerships with startups.

It added that, along with nine appointed CVL 3.0 lovers, EDB’s New Ventures team will work with selected firms to develop in new development areas. The partners will assist businesses in launching new businesses and establishing tools for successful corporate-startup cooperation.

The first edition of CVL was launched in May 2021 with US$ 7.6 million ( RM32.8 million ) in pilot funding. EDB expanded the program in July 2022 to include more businesses and committed additional funding of US$ 15 million ( RM 66 million ). Since the start of CVL, EDB has supported 24 firms in launching 14 new projects, with more projects in the pipeline.

]1 MYR = 0.231206 USD]

These endeavors are headquartered in Singapore, specific local markets, and make exciting career opportunities there. They have also received over US$ 53.7 million in follow-on revenue from existing and new owners. At least ten of these businesses are creating several businesses, with some establishing independent projects. Six of the new businesses are focusing on opportunities in development fields like AI and ecology.

EDB commits additional US$24.5 million funding, facilitates partnerships with startupsJacqueline Poh ( pic ), managing director of EDB, said:” The CVL programme has been a catalyst for companies to innovate for growth by leveraging Singapore’s world-class business ecosystem. The program confirms EDB’s dedication to working with businesses to create new ventures and foster mutually beneficial partnerships between corporations and companies.

Expanded program to assist corporate-startup partnerships

The expanded CVL 3.0 program may offer support for corporate-startup partnerships, providing an extra pathway for companies to get innovative products, services, and technology.

Instead of launching their own business, the businesses will collaborate with Open Innovation Partners to join with existing, top-notch startups and work together to achieve tangible business benefits. Such benefits include co-developing materials in Singapore to generate new revenue streams or adopting techniques that increase production and lower prices.

In order to boost the local innovative habitat, it added that companies will have more opportunities to grow by tapping into actual business need in Singapore.

Siemens ‘ collaboration with Artisan Green serves as an example of how corporate-startup partnerships can promote creativity and growth. Isabel Chong, senior vice president and head of Siemens Digital Industries in ASEAN, said:” Partnering with businesses is part of our long-term development plan at Siemens. For instance, our collaboration with the local horticultural farm Artisan Green makes use of our technology and digitalization tools to boost its output and scale operations. It exemplifies the interaction between Artisan Green’s strategy to industrial farming and our shared commitment to the production of high-quality, locally grown produce.

She added that she is pleased that EDB’s Business Venture Launchpad program is dedicating aid to nurturing corporate-startup collaboration and driving greater industry-wide engagement.

Ongoing focus on strengthening long-term opportunity creation capabilities

By establishing new businesses with a siège in Singapore, CVL 3.0 will continue to assist businesses in diversifying business prospects. In partnership with Venture Studio Partners, participating businesses will learn how to evaluate concepts within six-month sprints, as well as create sustained, long-term walk design capabilities.

After participating in CVL, world specialist engineering firm IMI plc established its in-house venturing division, IMI Venture Studio, to further produce green energy ventures. Marco Placidi, brain of Venture Studio at IMI corporation, said:” CVL has been a key element in IMI’s decision to build its enterprise studio in Singapore. EDB has created a strong ecosystem of business partners and corporations, which is enabling IMI to launch a number of ventures geared toward decarbonization and sustainability in the energy and commercial sectors.

He added that EDB’s expert help throughout the opportunity jumps and beyond has been crucial in establishing effective projects and attracting experienced, entrepreneurial ability. Through walk capital, IMI sees a lot of potential for new business expansion and technological advancement in the future, Placidi said.

Venture Studios and Open Innovation Partners make up the nine CVL lovers. They will offer tailored support based on the expertise level of each company, bringing their special capability-building products, procedures, skills, and assets.

Another aid characteristics of CVL 3.0 include:

  • EDB funding each idea validation sprint and business partnership initiative with up to 50 % of professional services and labor costs.
  • Find businesses will also be able to launch and level pilot projects that they co-developed with their startup partners and receive additional funding.
  • Where appropriate, EDB will build its enterprise builders and expert support to be part of the concept validation sprints and business partnership initiatives, both,
  • Potential access to a network of relevant VCs and family offices, as well as regional and global ecosystem connections, including investment opportunities from EDBI.

Companies can now submit applications to take part in CVL 3.0. Click here for more details.

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Digital News Asia

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  • Tourplus CEO embodies leader hurry, with keen gaze for chance
  • Owners have the highest duty, may convey optimism &amp, hope

The partnership with Tourism Selangor will earn Rickson Goh revenue, expand his supply of products and give him market inroad.

Some Malaysian startup founders have acquitted themselves as well as Rickson Goh, the gentle said founder of travel tech company Tourplus Technology Sdn Bhd, if you want to see how well they have handled the Covid-19 pandemic.

In the midst of a terrible halt in Malaysia’s tourism industry, he never merely raised eyebrows in the ecosystem with a powerful US$ 1 million seed capital fund raise, but he also went on to form some partnerships that will place his travel tech startup quite well when the tourism rebound occurs. Plus, he has also started talking to buyers on raising his second large as he projects profits for 2021 to reach US$ 1.65 million ( RM7 million )– almost none of it coming from vacation.

But what exactly is he smoking and what exactly is he spitting in his te sir? Turns out it is nothing more than leader rush and a strong desire for success. &nbsp,

Cuts win-win cope with Tourism Selangor

Tourplus, which had no mobile application before this, announced in a simple press release that it had worked with Tourism Selangor to create a wireless application for the state agency.

The true story is that Tourplus and Tourism Selangor have a 50:50 revenue share contract under the name Get Selangor for any income made through the game. Better yet, the state agency will start promoting Tourplus to those interested in the state agency’s database by encouraging all manufacturers of travel-related products to start digitizing their operations ( though this is not an exclusive agreement ).

As Rickson points out, the majority of these vacation players are small businesses, which would have been nearly impossible for Tourplus to enter. Instead, then it gets a reputable position company to make the introduction.

” We expect the game does go sit in Oct 2021″, says Rickson. Tourplus did examine business arrangements and installation in the app, operate and make the payout, etc., he states.

As Selangor intensifies efforts to prepare the journey ecosystem for the post-pandemic go rebound, Go Selangor may serve as the state government’s official travel app.

A crucial part of the efforts to find habitat players, most of whom are SMEs, available, is to encourage them to digitalise so that their vacation packages, services and inventory may be added to Get Selangor.

Rickson, who first proposed the idea in March and was given approval by the Selangor Information Technology and Digital Economy Corp. in July, believes that this partnership will benefit more rural operators or “hidden gem providers” that are not in the main stream platforms like Klook.

It is also a sweet deal for Rickson, who is preparing himself for the post-pandemic rebound by adding new inventory to his database. The latest of his recent cutbacks to his fundraising efforts in October, 2017.

Rickson Goh shows how you deal with a pandemicHis back was against the wall by that point, so the timing could n’t have been better. It was not an easy time, he admits. There was little to no money being made, and the statement” We were running out of money then” was true.

Even Rickson ( pic ) struggled to see any light, and the team had lost hope. It was very difficult for me. Day and night, I was trying to figure out a way to survive. We founders have the highest responsibility. No matter how we feel inside, and sometimes I felt helpless, but we have to exude hope and optimism for the team”, he says.

A quick foray into providing frozen food to consumers was unsuccessful. The key moment, however, came when he made the decision to forgo any international travel for at least for 24 months. A startup that had built its future off of inbound travel to Malaysia made a chilling realization.

Hanging out in Parliament, getting TSP status, convincing investors

Rickson swung into action. In the early stages of the pandemic lockdowns, webinars rose in popularity, and Rickson started taking classes there to learn from other business owners. He also became aware of the benefits of local players going digital and learned about the various government initiatives that are being implemented to help businesses. This would serve as Rickson’s lifeline as domestic tourism was awaiting a return to life.

” I was able to persuade my investors that domestic tourism was the best course of action and that the various government Covid aid recovery programs offered short-term opportunities.”

One of his biggest advantages was the stable government relations he established over a short period of time. He claims that it was not from funding any projects but rather from supporting the government in digitizing brick and mortar businesses, particularly those in the travel industry. He had to travel to the Malaysian Parliament to meet with relevant ministers in order to make his pitch, which helped Tourplus become recognized as a TSP ( Technology Service Provider ).

With this recognition Tourplus was able to assist businesses in requesting the Digital Marketing Grant, which is a component of the Malaysian Government’s efforts to assist businesses in recovering from the effects of the pandemic. They were qualified for up to a RM5,000 grant, and we have already received 200 companies ‘ approval from an overall 800 applications for the grant.

This work not only keeps his 20-strong team ( 30 % are part-time ) busy but has helped with cash flow as well.

Rickson Goh

Key collaborations in China, instant access to 200k hotel rooms globally

One important collaboration between Rickson and the Chinese travel agency ChongQing China Youth Travel Service started in April of this year.

Even though we raised money, traveling is still our main business, according to Rickson, adding that income and cash flow must be closely monitored.

” We need to keep innovating as well and I need to hire tech people, UI/UX designers, product people which will also help us scale”.

Another exciting development, one that he has kept under wraps is a partnership he has struck with China’s largest OTA ( Online Travel Agency ), the Nasdaq listed Ctrip. Users of the Tourplus app can now now directly book 200, 000 hotel rooms from all over the world where Ctrip has hotel partners thanks to an API integration.

” It is a very exclusive priviledge to be given the trust of API integration with a business like Ctrip,” Rickson asserts. That likely cuts both ways because Ctrip, which was founded in 1999, likely sees a little of itself in the ferocious startup from Kuala Lumpur and its gritty founder.

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AWS launches Infrastructure Region in Malaysia with US.2bil investment through to 2037

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  • higher funding than the US$ 5 billion that was first announced in 2023
  • Put about US$ 12.1 bil to GDP, help 3.5k work at physical companies yearly

Seen as a significant step towards fulfilling the vision of Malaysia’s New Industrial Master Plan 2030 to build a highly skilled, innovative, prosperous, inclusive, and sustainable economy.

It’s making a bigger devotion to Malaysia. Amazon Web services ( AWS ) an Amazon.com, Inc.company first announced the launch of its AWS Asia Pacific ( Malaysia ) Region in March 2023 and estimated the investment to be US$ 5.82 billion ( RM25.5 billion ) through to 2037.

Today however it announced that AWS is planning to invest an estimated US$ 6.2 billion ( RM29.2 billion ) in Malaysia through 2038.

AWS launches Infrastructure Region in Malaysia with US$6.2bil investment through to 2037The new AWS Region in Malaysia, led by Prasad Kalyanaraman ( pic ), vice president of infrastructure services at AWS, enables organizations across Asia Pacific to fully exploit the potential of the world’s most extensive and reliable cloud, assisting customers in deploying advanced applications with a wide set of AWS technologies like AI and ML. With today’s release, AWS is happy to support Malaysia’s modern transformation and help promote its function as a local hub for AI”.

AWS Regions are made up of Availability Zones, which place facilities in specific and unique geographic locations. Three Availability Zones are located far enough away from each other to support customers ‘ business continuity, but close enough to offer low overhead for large availability applications that use various Availability Zones.

DNA is ensure that two of its three information centers are in Johor and Cyberjaya, both of which are in the Klang Valley.

According to AWS, starting now, engineers, startups, entrepreneurs, and organizations, as well as state, knowledge, and nonprofit businesses, will have greater choice for running their applications and serving end users from AWS information centers located in Malaysia.

It already has a number of leading level firms as its customers including Bursa Malaysia, CelcomDigi, GX Bank Bhd, PayNet, Petroliam Nasional Bhd and Tenaga Nasional Bhd. The Department of Broadcasting Malaysia is one of the many government agencies that use it.

Amazon has adopted the same model with its AWS Partner Network ( APN), which consists of tens of thousands of independent software vendors ( ISVs ) and systems integrators ( SIs ) around the world, in the same way that enterprise tech vendors like IBM, Microsoft, HP, and Cisco use partners in overseas markets to boost sales. Now two Indonesian companies, Aerodyne and Tapway, are part of the APN.

AWS said that the construction and operation of the new AWS Region is anticipated to contribute approximately US$ 2.1 billion ( RM57.3 billion ) to Malaysia’s gross domestic product ( GDP ) and will support an average of more than 3,500 full-time equivalent jobs at external businesses annually through 2038. The company shared data from an economic impact study it commissioned.

These jobs, including construction, service maintenance, architecture, telecommunications, and others within the government’s broader economy, may be part of the AWS offer network in Malaysia.

Tengku Zafrul, Minister of Investment Trade & Industry ( MITI), stated,” The launch of an AWS infrastructure region in Malaysia increases our country’s capabilities for digital innovation.

” This step is a major step towards fulfilling the perspective of Malaysia’s New Industrial Master Plan 2030 to create a highly skilled, modern, successful, equitable, and sustainable economy. We think that the transformational potential of AI, cloud computing, and digitalization are key factors in Malaysia’s effort to become an Asian hub for manufacturing and services. The AWS infrastructure Region will help ensure Malaysia stays competitive on the global stage as the largest investment made by an international technology company in Malaysia, according to Zafrul. &nbsp,

AWS Malaysia claims to have trained over 100 000 people in Malaysia in cloud skills since its direct presence in Malaysia in 2017. Through AWS Skills to Jobs Tech Alliance and AWS Training &amp, Certification programs like AWS Academy, AWS continues to invest in educating developers, students, and the next generation of Malaysian IT leaders in cloud skills.

With the launch of the AWS Asia Pacific ( Malaysia ) Region, AWS has 108 Availability Zones across 34 geographic regions, with announced plans to launch 18 more Availability Zones and six more AWS Regions in Mexico, New Zealand, the Kingdom of Saudi Arabia, Taiwan, Thailand, and the AWS European Sovereign Cloud.

Each Availability Zone has independent power, cooling, and physical security, and is connected through redundant, ultra-low-latency networks. Customers who want to have high availability on Amazon can design their applications to run in several Availability Zones to achieve even greater fault tolerance.

AWS offers the broadest and deepest portfolio of services, including analytics, compute, database, IoT, generative AI, ML, mobile services, storage, and other cloud technologies. Customers from startups and businesses to public sector organizations and nonprofits will be able to use cutting-edge technologies from the world’s leading cloud provider to spur innovation, satisfy data residency requirements, achieve lower latency, and satisfy the growing demand for cloud services in Malaysia and throughout Asia Pacific.

The new crop of AI-built data centers ‘ fervent appetite for power has also increased the demand for power in Malaysia. With the launch of the Corporate Renewable Energy Supply Scheme ( CRESS) in September, the Malaysian government is allowing third parties to access the country’s electricity grid in response to the high demand. The emphasis is on the supply of green electricity.

Once introduced, buyers can negotiate directly with any renewable energy power plant for green supply, said the Ministry of Energy Transition and Water Transformation.

Since 2020, Amazon has become the largest corporate buyer of renewable energy in the world.

At the same time, it is working on ways to increase the energy efficiency of its data centers —optimizing data center design, investing in purpose-built chips, and innovating with new cooling technologies. According to a new report from Accenture, which was commissioned by AWS, AWS’s infrastructure is up to 4.1 times more efficient than on-premises, and when workloads are optimized on AWS, the associated carbon footprint can be reduced by up to 99 %.

Additionally, AWS is committed to being water positive by 2030, returning more water to communities than it uses in its direct operations.

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Graffiquo Asia introduces innovative solution for oil & gas Industry

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  • Acquired support from key governmental organizations, habitat people
  • Options enable workers to handle data smoothly, make real-time decisions

Graffiquo Asia introduces innovative solution for oil & gas Industry

A new item from Graffiquo Asia Sdn Bhd, a provider of cutting-edge geographic technology solutions, has been released that will change procedures in the oil and gas industry. In a statement, the company announced that” GIX for Oil &amp, Gas Field Workers” attempts to optimize information record, asset management, and reporting procedures, offering prospective improvements in efficiency and safety for industry participants.

It added that GIX integrates functions such as raster, data-driven maps, and smart forms, empowering area workers to handle data easily and make more informed decisions in real-time.

Important political organizations and ecosystem participants have supported Graffiquo’s development efforts, according to Graffiquo. The company first received a commercialism give under the CIP300 system from Cradle Fund, which is under the Ministry of Finance, for their principal platform, Graffiquo. &nbsp,

Following this, it was supported by the Malaysian Technology Development Corporation’s Collaborative Research and Development Fund Grant to expand its commercialization activities and tools under the Ministry of Science, Technology, and Innovation. The Malaysian Petroleum Resource Corporation provided additional support through the OGSE Development Grant, especially for the creation of their subsidiary mobile app, GIX, under the Ministry of Economy.

Graffiquo Asia is a participant in the government’s MRANTI MYSTI program, which aims to promote local R&amp, D products and services for domestic and international markets. Also, the company is involved in the Petronas FutureTech 2.0 project, which aims to nurture tech startups and generate digital change within the oil and gas industry.

The Organi are represented by Graffiquo.Graffiquo Asia introduces innovative solution for oil & gas Industrysation for Sustainable Development Goal 11 and the United Nations ‘ Centre of Excellence for United for Smart Sustainable Cities program. Through its 3D visualisation platform, Graffiquo’s global commitment to smart and sustainable urban development is highlighted in this partnership.

Graffiquo Asia’s founder, George Tang ( pic ), thanked the support that was given, stressing the value of such support and recognition in driving innovation. He stated,” GIX represents a significant step forward in improving efficiency, safety, and decision-making processes for oil and gas companies”.

Graffiquo Asia is exploring partnerships with Malaysian ministries to advance the realization of Digital Malaysia Cities, besides its oil and gas sector focus. Committed to sustainability and smart urban development, the company aims to support the government’s vision for a digitally integrated nation.

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