• Malaysia sets aside a special matching grant for companies
• MDEC partnering with global digital transformation labs to support the ecosystem

KUALA LUMPUR, April 9 (Bernama) -- In line with its commitment to accelerate the nation’s digital transformation, Malaysia Digital Economy Corporation (MDEC) today kicked off the Digital Transformation Acceleration Programme (DTAP). The programme will provide Malaysian companies a structured approach to digital transformation and will leverage on Digital Transformation Labs’ expertise to help businesses adopt emerging digital technologies.

“Digital transformation enhances the ecosystem which in turns increases the productivity and sustainability of Malaysia. Companies, whether they are in the manufacturing or services sector, need to future-proof their businesses to remain competitive. MIDA has been working with MDEC to structure the DTAP towards lifting Malaysian industry players in the priority sectors to assist them in their digital adoption journey. MIDA has been facilitating the shift of home-grown companies through the Domestic Investment Strategic Fund (DISF), and we are expanding it to cater for MDEC’s DTAP. We hope that these efforts will continue to get the support from the industries and in the long run, we will have more capable Malaysian champions to penetrate the global market,” said Dato’ Azman Mahmud, Chief Executive Officer at Malaysian Investment Development Authority (MIDA).

Established for large corporations and mid-tier companies, DTAP is an outcome-driven programme which aims to help businesses achieve increase in productivity, reduce foreign labour dependency as well as create new source of growth or business model.

“Digital disruption is inevitable; it is the way of the world now. It is imperative for businesses to embrace the changes that come with digital innovation. To stay competitive, Malaysian companies must rapidly adapt to the way technology is changing the rules of business and increasing efficiency. Homegrown businesses - like Top Glove and Gamuda Land - have successfully integrated digital technologies to their business processes. Now, that move has yielded positive results. However, the digital transformation journey is not an easy road. That realisation has inspired the establishment of DTAP. Through this programme, Malaysian businesses will receive support, guidance and be part of an ecosystem that will provide a structured approach to the transformation into the digital world,” said Datuk Yasmin Mahmood, Chief Executive Officer at MDEC.

“Participants of the DTAP will work closely with our Digital Transformation Labs partners which consists of global experts to provide consultancy, expertise in development and execution of digital transformation pilots.

The goal is to help Malaysian companies become world class entities, and the best way to achieve that is by connecting them with global Digital Transformation Labs. With these global connections, we are able to give companies the global exposure that they need,” added Datuk Yasmin Mahmud.

The programme will unfold in two phases. In the pilot phase, the businesses will leverage on the expertise of the Digital Transformation Labs to identify pain points and opportunities in the digital space, uncover potential solution and implement proof of concept/minimum viable product with measurable outcomes. Upon successful completion of the pilot phase, between 6 months to 1-year period, businesses can apply to undergo for full-scale implementation.

DTAP is accompanied by an outcome-based matching grant, which is a partnership between MDEC and MIDA. The grant is created with the objective of assisting companies to leverage on digital transformation lab’s expertise and assistance in addressing pain points or exploit opportunities in the digital space, while adopting emerging digital technologies. With the grant, companies will be reimbursed based on the outcome achieved - increase productivity, reduce foreign labour dependency as well as create new source of growth or business model.

More information on Digital Transformation Acceleration Program (DTAP) can be found at www.mdec.my/dtap.

Please click here for Quotes from Digital Transformation Lab Partners
About Malaysia Digital Economy Corporation (MDEC)
Malaysia Digital Economy Corporation or MDEC (formerly known as Multimedia Development Corporation Sdn. Bhd.) is the lead agency in driving the digital economy in Malaysia under the Ministry of Communications and Multimedia Malaysia. Since its inception 22 years ago, MDEC’s mission is to develop the nation’s digital economy. MDEC’s implementation efforts are centred on driving investments, building local tech champions, catalysing digital innovation ecosystems and propagating digital inclusivity.

MDEC is also responsible to ensure that Malaysia plays an integral part in developing and nurturing talent to drive digital innovation around the world, while attracting participation from global ICT companies to invest and develop cutting edge digital and creative solutions in the country.

To know more about MDEC’s efforts and initiatives in driving Digital economy, please visit www.mdec.my or follow us on:

Facebook: https://www.facebook.com/MyMDEC/

Twitter: @mymdec

About Malaysian Investment Development Authority (MIDA)

MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 23 overseas offices. This year as the organisation celebrates its 50th anniversary, MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era.

Source : Malaysian Investment Development Authority (MIDA)

FOR MORE INFORMATION, PLEASE CONTACT:
Name : Zalinda Zainon
General Manager, Corporate
Communications
Malaysia Digital Economy Corporation
(MDEC)
Tel: 03 8315 3229
Email: zalinda.zainon@mdec.com.my

Name : Farah Zuber
Senior Manager, Reputation
Edelman Public Relations Worldwide
Tel: 03 2287 8689
Email: farah.zuber@edelman.com

--BERNAMA