The program seeks to empower equitable and sustainable digital transformation to support Malaysia’s drive to harness Fourth Industrial Revolution innovations in line with Malaysia 5.0
The Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in digital transformation, today announced the launch of MDEC Innovation Exchange (MIX), a program designed to accelerate the digitalization of the nation’s economy. MIX is part of the agency’s corporate innovation efforts aimed at empowering large corporates with value-added digital transformation via local innovations; bringing together established corporates and world-class local technology players.
MIX acts as the essential link between corporates and high caliber local tech start-ups and scale-ups, enabling organizations to realize their asset value, understand their pain points, and pervasively deploy and utilize digital and data technologies.
“The pandemic has brought digitalization to the fore, rapidly shifting the paradigm of digitalization and servitization of the economy. It is no longer a choice but a necessity.
“In line with the Malaysia Digital Economy Blueprint (MyDIGITAL) and coinciding with our agenda of Malaysia 5.0, MIX will greatly benefit local enterprises to pivot digitally and boost their competitiveness, thus accelerating a nation by providing equitable digital opportunities to the people and businesses,” said Surina Shukri, MDEC CEO.
The MIX program by MDEC is set to be a game-changer in pushing for industrial advancement in Malaysia while contributing to the successful growth of the nation’s startup scene. MDEC will provide the bridge between corporates and startups via the following steps of engagement:
- Design Thinking: MDEC will help participating corporates to identify crucial problem statements and pain points within their respective organizations. Following which the agency will advise the corporates on the right solutions required for their digital transformation
- Exploration & Networking: MDEC will connect the corporates to a pool of over 800 tech startups and scale-ups that can provide solutions or proofs of concept (POCs). The agency will do this by curating a list of relevant solution providers based on the corporate’s problem statements
- Partnerships & Market Access: MDEC will co-create programs with accelerators, venture builders and VC communities to unearth and highlight the best technology solutions for potential collaborations (ie. funding, mentorship, business deals, acquisitions)
- Empowering Talents: MDEC will help participating corporates with the hiring of digitally-savvy talents through initiatives such as MyDigitalWorkforce Work in Tech (MYWiT) and the Premier Digital Tech Institutions (PDTI). The agency will also assist the corporates in the upskilling of existing staff
- CSR Programmes: Participating corporates will be able to collaborate with MDEC on programs and initiatives such as SayaDigital, Barkat and the Global Online Workforce (GLOW) to support underprivileged communities in Malaysia
Through MDEC’s corporate innovation programs and initiatives, the agency has formed 85 engagements with 85 corporate partners across seven economic sectors – namely telecommunications, manufacturing & engineering, transport, finance, services, property & agriculture and FMCG – to help them embark on their digital transformation journeys.
To date, the agency has assisted the organisations in tackling 75 problem statements, in addition to creating nearly 1,300 opportunities for relevant tech companies, signing five memorandums of understanding (MoUs) as well as achieving 13 business deals.
The MIX program by MDEC is open to all corporates wishing to be a part of the innovation space. They can also apply to involve themselves in multiple innovation initiatives under the program. To register your organization for the MIX program, visit https://mdec.my/mi