IN efforts to realise the Penang2030 vision, state Infrastructure, Transport, and Digital Committee chairman Zairil Khir Johari launched the Market Access Programme, a market and capital access courtesy of Digital Penang at Wisma Yeap Chor Eee in Weld Quay earlier today.
Under this programme, 10 active local technology startups in the Penang startup ecosystem will gain vital access to the Indonesian digital and technological market when participating in the Tech in Asia Conference, which will be held in Jakarta, Indonesia, from 18 to 19 October.
“Malaysia, specifically Penang and Kuala Lumpur offer suitable environments to start and develop technology ventures.
“However, due to the limitations of market size to support exponential growth for our technology startups, it has become crucial that our technology startups adopt a regional approach.
“As of 2022, Jakarta is ranked first in Indonesia and ranked 29th globally in terms of ecosystem maturity and development.
“With that, it is evident that the country possesses the largest ecosystem that has the right developmental and capital support for our technology startups,” Zairil said during his speech.
Speaking on behalf of Digital Penang chief executive officer (Ng Kwang Ming), Lim Chong Seng, who is the Ecosystem Development director at Digital Penang, said that the Tech in Asia Conference offers opportunities for startups to expand their market access, promote knowledge-sharing, facilitate partnerships with stakeholders, and engaging with potential venture capitalists in Indonesia and the region.
“Today, Indonesia is one of the largest markets for technology startups to tap into, a space where freight and logistics, agritech, gift card, and the peer-to-peer lending industry are taking off.
“Our startups will have the opportunity to pitch to investors and showcase their solutions to potential investors, therefore, connecting our vibrant startup community to the region.
“Aside from the conference, Digital Penang will also be holding business discovery sessions with ecosystem builders based in Indonesia, such as Kumpul.ID, Telkomsel Corporate Accelerator (TINC) and Innovation Factory (Block71) Jakarta,” Lim said.
Meanwhile, a representative from SpaceIn, a Nibong Tebal-based IoT (Internet of Things) satellite manufacturing startup, said that the market access programme will help the company locate and connect with potential clients, investors and partners, especially in the agriculture sector and beyond Indonesia.
SpaceIn is also one of the ten startups that will be participating in the conference late this month.
Story by Norman Sim
Pix by Darwina Mohd Daud