Penang govt continues to support smart, startup businesses


THE Penang government, through investPenang and @CAT Penang, has awarded a total of RM1.35 million to 11 startup businesses in the state.

The fund, from Penang i4.0 Seed Fund, was presented by Chief Minister Chow Kon Yeow during a ceremony at Wisma Yeap Chor Ee today.

The event marked the second round of award presentation.

Sixteen companies were awarded a total of RM1.67 million during the first presentation in August last year.

Chief Minister Chow Kon Yeow said the Penang i4.0 Seed Fund was set up to enhance the growth of Penang’s technology ecosystem.

“I believe this fund will be able to promote the growth of startups,” Chow said.

Chow said the 11 companies were platform companies focusing on wellness, pet owners, E-commerce, smart cognitive system, AI technology and so on.

“Each of them will be receiving an amount ranging between RM50,000 and RM200,000,” he said.

Chow also launched two LeapSprint programmes namely LeapSprint Startup Founders and LeapSprint Startup Mentoring at the event.

The LeapSprint programmes were launched with the hope that recipients remain successful and competitive in their businesses.

Also present were investPenang chief executive officer cum Penang i4.0 Seed Fund evaluation committee chairman Datuk Loo Lee Lian and @Cat Penang programme director Howie Chang.

Story by K. Thaarshenii
Pix by Law Suun Ting
Video by Chan Kok Kuan