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MDEC partners 12 equity crowdfunding and P2P platforms to help startups

15/08/2022 07:43 PM

KUALA LUMPUR, Aug 15 (Bernama) -- Malaysia Digital Economy Corporation (MDEC) has partnered 12 equity crowdfunding and peer-to-peer (P2P) platforms to help startups during the COVID-19 pandemic.

Communications and Multimedia Minister Tan Sri Annuar Musa said via the MDEC Innovation Exchange (MiX), the ministry has helped match large corporations with local innovators to resolve issues.

“To date, we have assisted organisations to tackle 75 problem statements from telecommunications to agriculture, while creating nearly 1,300 opportunities for relevant tech companies,” he said during the Alibaba Cloud’s 2022 Create@ Global Startup Contest (CACSC) opening ceremony, today.

The opening speech was read by MDEC chief executive officer Mahadhir Aziz.

Mahadhir, reading Annuar's speech, said the government is cognisant of the importance of digital startups to build a thriving digital economy and the ministry, via MDEC as the country's lead digital economy agency, has been nurturing the development and growth of the local digital startup ecosystem.

He told the media that MDEC aims to help tech-related venture companies to prosper in the market.

“We have seen a new sets of unicorns and Carsome is one of them. There is also another set of ‘soonicorns’ that are not there yet, so we need to help those companies,” he said.

On the contest, Mahadhir said the CACSC, which focus on five core pillars, namely digital tech, food and beverage tech, agro technology, blockchain, and the Fourth Industrial Revolution, will align to the ministry's vision and mission to build a robust and empowering digital startup ecosystem.

These core pillars are in line with nine focus areas of Malaysia Digital identified as having high growth potential, opportunity, and importance, he said.

At the same event, Alibaba Cloud Intelligence Malaysia general manager Kun Huang said with this initiative, Alibaba will continue to propel the growth of tech start-ups to the next level.

“This contest acts as a platform to drive digital transformation and tech innovation, and for tech start-ups to unleash their potential via a network of investor ecosystems,” he said.

Highlights of the contest which begins today until Oct 27 include Investment Ready Workshop, Investment Technical Workshop and Corporate Exchange Programme 

This is the third contest since 2015 and 2019.




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