MDEC distributes RM2.35m in grants to SMEs and start-ups

The Malaysia Digital Economy Corporation (MDEC) has distributed RM2.35 million worth of grants for 47 grant recipients from the SME and start-up sectors. The recipients were mainly from the digital creative content industry (70%), professional services (21%), education (7%), and other industries (2%). These disbursements were made under the Digital Content Grant as part of PENJANA which was created to support local digital creative companies in developing, producing, and marketing their digital content.

Through MDEC, the government has been actively offering grants to encourage and support innovation, creation of new intellectual property, accelerate automation and digitalisation of business to positively contribute towards growing Malaysia’s digital economy. These initiatives that aim to empower digital businesses are part of MDEC’s three strategic framework pillars: digital jobs, digital businesses, and digital investments.

The pillars were formed following MDEC's restructure last year, which aimed to break down silos and drive both synergies and efficiencies across teams. CEO Surina Shukri said previously that a strategic change management exercise was launched as part of MDEC's "Reinvent" agenda to inculcate a high-performing and high-impact organisation. MDEC also recently introduced the input, output, outcome and impact valuation metrics in its planning process to guide resource allocation and utilisation to enhance service delivery.

This time round, Surina said MDEC has set the scene for SMEs and start-ups to thrive in the fourth industrial revolution era, by continuing to empower digitally-skilled talents, enable digitally-powered businesses and attract digital-sector investments. "By 2025, the reinvented MDEC will firmly establish Malaysia as the Heart of Digital ASEAN,” added Surina.

Meanwhile, MDEC's chairman Rais Hussin said last month its "Reinvent" agenda is crucial to inject new, fresh ideas, enthusiasm and skills. This came as it welcomed Minister of Communications and Multimedia Malaysia Saifuddin Abdullah’s year-end message "Tahun 2021 Mara Ke Hadapan", which called for companies to focus on transparency, accountability, and integrity.

Photo courtesy: 123RF

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