Malaysian Technology Development Corporation (MTDC), a wholly-owned subsidiary of Khazanah Nasional Berhad and an agency under the Ministry of Science, Technology and Innovation (MOSTI), conducted its annual program, MTDC’s Road2Growth (R2G) Penang, here today. The event was carried out with the support of Penang Skills Development Centre (PSDC), Collaborative Research in Engineering, Science & Technology (CREST), Northern Corridor Implementation Authority (NCIA) and other strategic partners. During MTDC’s R2G, Dr. Hari Narayanan, Chief Executive Officer of Penang Skills Development Centre (PSDC), and Encik Jaffri Ibrahim, Chief Executive Officer of Collaborative Research in Engineering, Science & Technology (CREST) in attendance as well.
MTDC’s R2G is a platform to disseminate information and showcase MTDC’s range of services, which includes Commercial and Developmental Funding, Centre of Excellence, Training & Talent Development, Business & Technology Consulting, and Technology Adoption. The complimentary event welcomes industry players, universities and government as well as private companies who may need assistance in technology adoption to explore new business and partnership opportunities.
At the event’s launch, MTDC’s CEO, Ts. Hj. Mohammad Hazani Hj. Hassan, said, “Penang holds a pivotal role in Malaysia’s semiconductor manufacturing and technology sector, making it a critical focus for MTDC. As a key hub for semiconductor manufacturing, Penang boasts a robust supply chain that supports a myriad of global technology companies. The state’s well-established infrastructure and skilled workforce have made it a magnet for leading semiconductor firms, contributing significantly to Malaysia’s position as a global player in the technology industry”. He added that, “The ecosystem in Penang is enriched by the presence of major multinational corporations and innovative local companies, creating a dynamic environment for technological advancements. This synergy not only drives economic growth but also fosters the development of cutting-edge technologies and solutions. As we look to the future, Penang’s strategic importance in the semiconductor supply chain and technology landscape, will continue to be a cornerstone of Malaysia’s innovation-driven economy, aligning with the National Semiconductor Strategy (NSS), recently announced by the Government”.
Commenting on MTDC’s focus, he explained that, “MTDC is particularly interested in focusing on Penang due to its strategic importance and thriving ecosystem. By investing in Penang, MTDC aims to leverage the state’s established infrastructure and talent pool to accelerate technological innovations and drive economic growth, particularly in the semiconductor industry. We are committed to supporting the local companies in Penang through strategic investments and partnerships, helping them to scale their operations, build the ecosystem of supply chain, enhance their competitiveness, and contribute significantly to Malaysia’s position on the global technology stage.”
Since 2015, MTDC has invested more than RM70 million in technology based Small Medium Enterprises (SMEs) in the northern region. Of these, RM11.3 million (16%) were invested in E&E and semiconductor companies. A total of 29 investments were made in various stages, from seed to growth, with 17 investments in Penang alone.
Meanwhile, in today’s R2G program in Penang, participants were able to choose from any of five (5) tracks, specifically on Commercial Fund, Developmental Fund, Centre of Excellence, Business & Technology Consulting, and Technology Adoption.
The Commercial Fund provides essential financial support to help businesses expand and achieve sustainable success. Whether a startup or an established enterprise, this fund offers the resources needed to scale and grow effectively.
MTDC’s Developmental Funds, including the National Technology & Innovation Sandbox Fund, Halal Technology Developmental Fund, and Dana Mudahcara MySTI, are tailored to support technological and innovative advancements. These funds aim to nurture groundbreaking ideas, driving them from prototypes to commercial viability.
MTDC’s programs offer comprehensive support, including Centre of Excellence (CoE), Training & Talent Development, Business & Technology Consulting, and Technology Adoption. These initiatives enhance business operations, drive innovation, and ensure competitiveness in the evolving tech industry.
Overall, MTDC’s R2G aims to offer valuable insights and make the right support and resources available to Malaysian technopreneurs to compete on a global level, so that they may contribute significantly to the technological advancements and the economic growth of the country.
With the successful completion of MTDC’s R2G in Penang, the next R2G event will be held in Kota Kinabalu, Sabah on 6 August 2024; Kuching, Sarawak on 20 August 2024; and Kuala Lumpur on 9 September 2024.
For further information, or any inquiries about the programme, please visit https://r2g.mtdc.com.my/. MTDC Partner with Tech Experience.