The Malaysia Digital Economy Corporation (MDEC) along with Startup Genome recently announced the formation of a strategic partnership that is aimed at accelerating the development and expansion of Malaysia’s vibrant startup landscape and ecosystem for the upcoming decade, with the Metropolitan Kuala Lumpur area serving as the initial focus. It is understood that the joint collaborative effort between the two parties will see Startup Genome utilize its vigorous, world-class startup ecosystem assessment resources to provide valuable data-driven insights that can enable Malaysia to discover and unlock new potentials and opportunities for the country’s startup ecosystem, as well as the establishment of clearly-defined initiatives and policies that can further complement the growth and development of an innovation-first culture that is so crucial for startup success. As part of this undertaking, Startup Genome will actively engage and work with the various stakeholders in Malaysia’s startup ecosystem, including its key policymakers, investors, regulators, investors, governmental agencies and startup leaders and founders, to gather data and input that will form the basis of its ecosystem assessment and reporting.
The Malaysia Digital Economy Corporation (MDEC) along with Startup Genome recently announced the formation of a strategic partnership that is aimed at accelerating the development and expansion of Malaysia’s vibrant startup landscape and ecosystem for the upcoming decade, with the Metropolitan Kuala Lumpur area serving as the initial focus. It is understood that the joint collaborative effort between the two parties will see Startup Genome utilize its vigorous, world-class startup ecosystem assessment resources to provide valuable data-driven insights that can enable Malaysia to discover and unlock new potentials and opportunities for the country’s startup ecosystem, as well as the establishment of clearly-defined initiatives and policies that can further complement the growth and development of an innovation-first culture that is so crucial for startup success. As part of this undertaking, Startup Genome will actively engage and work with the various stakeholders in Malaysia’s startup ecosystem, including its key policymakers, investors, regulators, investors, governmental agencies and startup leaders and founders, to gather data and input that will form the basis of its ecosystem assessment and reporting.
The Malaysia Digital Economy Corporation is a government institution that is responsible for overseeing the nation’s drive towards an empowered digital economy. Some of the agency’s current functions include advising the Malaysian government on the effective implementation of tech regulations and frameworks, attracting new tech talent, empowering digital companies and businesses and encouraging investors to invest in the country’s digital economy and businesses. Surina Shukri, chief executive officer of the Malaysia Digital Economy Corporation, said that several key factors, such as the country’s diverse and multi-lingual demographic and its pro-business policies and regulations, present an ideal environment for technology-focused companies and startups to pilot and launch their projects and businesses in the nation. As well, the Malaysian government is fully committed to developing a supportive and comprehensive environment that is conducive to the success of enterprising entrepreneurs and startups. The MDEC’s most recent partnership with Startup Genome will further accelerate the country’s drive towards a tech-driven digital economic transformation, led by its capable startups and organizations. Surina further noted that the institution is very optimistic about Startup Genome’s capabilities and expertise in helping Malaysia to fully realize the potential of its startups as it seeks to become the heart of a digital ASEAN.
JF Gauthier, chief executive officer and founder of Startup Genome, said that the research and policy advisory organization is very enthusiastic about the collaboration with MDEC, and is looking forward to helping the Malaysian agency realize its goal of turbocharging the nation’s startup ecosystem for success. As such, the organization is dedicated to collaborating with the various stakeholders in the startup ecosystem to help Malaysia usher in a fourth industrial revolution era and help spread its benefits throughout the startup economy. JF Gautheir also praised Malaysia’s capabilities, saying that the country definitely has the potential to become a leading regional and global force across several startup subsectors.
Malaysia’s digital economy has experienced remarkable growth over the past few years, having contributed more than eighteen percent of the country’s total gross domestic product (GDP) for the year 2018, with an Internet economy that is valued at approximately US$8 billion. The partnership between MDEC and Startup Genome is a great positive step forward for the country as it seeks to continue that trajectory of growth by empowering its startup ecosystem to scale even greater heights.
