KUALA LUMPUR, May 5 — Serba Dinamik Group Berhad (SDGB) and Malaysian Technology Development Corporation (MTDC) have launched a RM6 million Innovative Transformation Seed Fund to encourage newly established start-ups involved in digital or business innovation to commercialise their ideas via a clear business model.
A virtual Memorandum of Understanding (MoU) on the Innovative Transformation Seed Fund was signed between the two parties today to foster the growth of digital start-up ecosystem in Malaysia, by providing guidance and mentoring to the budding entrepreneurs for innovative transformation.
“The collaboration would enable in assisting the new-age technology start-ups in the country, focusing on future technologies like Artificial Intelligence, 5G, Big Data, Cybersecurity, Blockchain, Internet of Things and Machine Learning, to leverage digital growth opportunities across its global network,” SDGB and MTDC said in a joint statement today.
Earlier today, SDGB and MTDC held the first-ever virtual MoU ceremony in the presence of SDGB group managing director Datuk Mohd Abdul Karim Abdullah and MTDC chief executive officer Datuk Norhalim Yunus.
The joint statement said as part of the comprehensive growth framework outlined within the MoU, MTDC would link SDGB in assisting new-age technology start-up entrepreneurs in Malaysia to leverage digital growth opportunities relating to the proposed transaction.
“SDGB will also be responsible to share ideas and information towards the development of the start-up companies and entrepreneurs under MTDC’s ecosystem of the proposed transaction,” it added.
Meanwhile, Mohd Abdul Karim said the collaboration was the first phase for both organisations to partner in entrepreneur’s development programmes, mainly in Sarawak, and will continue in phases to Semenanjung Malaysia.
“We are delighted and grateful to be partnering with MTDC in mentoring the local talents to capitalize on the huge growth potential the region has to offer, and with this initiative, it could be a global footprint opportunity,” he said.
Norhalim said MTDC would extend collaboration opportunities to the innovators of start-ups in Malaysia to engage with its research and development arms to help generate awareness about digital technologies and inculcate a culture of innovative thinking.
“We will also design and develop programmes, including training, knowledge-sharing, developmental programmes and other programmes of similar nature that will benefit the cooperation besides providing knowledge transfer and expertise for the development of technology transfer, commercialisation and entrepreneurship”, he said.