MDEC sets up new hub to propel growth for Malaysia's digital economy

Malaysia Digital Economy Corporation has introduced Malaysia Digital Hub to grow the nation's digital economy. The aim of this initiative is to support start-ups, and its communities, with tech and digital co-working spaces.The Malaysia Digital Hub offers startups access to high-speed broadband and fibre optic connectivity, funding and facilitation opportunities, workforce-ready ecosystem in a technologically environment. While it encourages the participation from all tech startups, the hub focuses on four categories - growing startups, global tech companies, accelerators and talent builders and investors. It also offers startups access to high-speed broadband and fibre optic connectivity, funding and facilitation opportunities, workforce-ready ecosystem in a technologically environment.Currently, three digital hubs have been approved by the government: APW, The Co. and Common Ground; all located in Klang Valley.Moreover, MDEC has also introduced Malaysia Tech Entrepreneur Programme (MTEP) – an initiative by the Malaysian government that aims to attract individuals from all around the world, and help them to kick-start their startups in Malaysia. Under the MTEP, both new and established entrepreneurs are encouraged to apply if they wish to set-up their startup in Malaysia. The application process will take up to 21 days.“A startup journey is both rewarding and challenging. Realising this, we have been working with MDEC and private sectors to structure the Malaysia Digital Hub," said Mohd Irwan Serigar Abdullah, secretary general of treasury, Ministry of Finance."There is no doubt that Malaysia is committed to grow technology-related startup companies in this country. We hope that these efforts will continue to get the support from the startup community as well as private sectors,” he added.“Malaysia is gradually gaining interests from startups and entrepreneurs worldwide. Located at the heart of ASEAN, Malaysia is able to connect businesses to a regional market of more than 625 million people. With the introduction of Malaysia Digital Hub and MTEP, the local and global tech startup communities can now leverage these benefits that our country has to offer," said Yasmin Mahmood, CEO of MDEC.