MDEC’s Head of Digital Industry Acceleration Ir. Wan Murdani Wan Mohamad
The Malaysia Digital Economy Corporation (MDEC) recently inked two partnerships with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV) to strengthen Malaysia’s digital economy. As part of this collaboration, the three organisations launched a US$45 million investment initiative fund to fuel innovation and accelerate the growth of local startups.
In this interview with e27, MDEC’s Head of Digital Industry Acceleration, Ir. Wan Murdani Wan Mohamad, shares more insights on these strategic partnerships.
Edited excerpts:
What are MDEC’s primary goals with these partnerships with Ascent and CCV?
MDEC’s primary objective with these partnerships is to bolster Malaysia’s digital economy by creating a robust and dynamic ecosystem that attracts substantial capital investment. These alliances with Ascent and CCV are strategically designed to accelerate growth across digital and tech sectors, ensuring local tech companies gain greater access to funding, innovation networks, and regional market opportunities.
Also Read: MDEC unveils US$45M investment initiative with Ascent, CCV to strengthen Malaysian startups
Ultimately, this collaboration will advance Malaysia’s standing as a leading innovation hub in ASEAN, positioning the nation at the forefront of digital economy development in the region.
What specific milestones or outcomes do you aim to achieve within the next few years due to these partnerships?
Over the next three years, we aim to facilitate the development and investment of 20 to 30 startups, strongly emphasising scalable business models. Key outcomes include increased venture capital inflows, a rise in high-growth companies achieving regional expansion and
significant contributions to Malaysia’s GDP through tech-driven economic activities.
Can you provide more details on the selection criteria for Malaysian startups that will benefit from Ascent’s early-stage funding?
Startups will be selected based on their potential for scalability, innovation, and alignment with Malaysia’s digital economy goals. Specific criteria include a strong market need, a strong management team, and a clear strategy for regional expansion, particularly within ASEAN markets.
These elements are essential to ensure that funded startups have the capability to leverage the partnership for substantial growth.
In which ways does MDEC plan to support and ensure the regional scalability of the funded startups?
MDEC will provide strategic support by offering access to mentorship programmes, industry partnerships, and market access initiatives through our Digital Exports programmes.
Additionally, MDEC’s extensive regional networks will facilitate entry to ASEAN markets, helping startups to scale and achieve long-term sustainability and impact.
How will Ascent’s investment in fintech, AI, and robotics contribute to Malaysia’s position as an innovation leader in the ASEAN region?
Ascent’s investment in cutting-edge fields such as fintech, AI, and robotics will drive innovation, attract top talent, and position Malaysia as a regional technology leader. This focus strengthens Malaysia’s competitive edge in digital solutions within ASEAN, boosting its attractiveness as a hub for advanced technological development and digital business.
How will CCV’s regional ecosystem network benefit Malaysian startups, and are there specific partnership opportunities within this network?
CCV’s extensive regional network offers Malaysian startups access to established corporate partners and opportunities for market expansion in Indonesia and beyond. These partnerships allow startups to tap into vital growth resources, leverage CCV’s ecosystem for strategic collaboration, and expand their reach across Southeast Asia.
Please outline any targeted areas within AI, cybersecurity, blockchain, and digital finance that MDEC believes will benefit most from CCV’s support.
Key focus areas include AI-driven predictive analytics and automation, cybersecurity solutions tailored for fintech and digital finance, and blockchain applications for secure digital identity and transparent financial services.
How does MDEC plan to measure the impact of these partnerships on financial inclusion and digital transformation in Malaysia?
MDEC will measure impact by tracking total investment, job creation, and increased digital adoption rates.
For financial inclusion specifically, we aim to see improved access to digital financial services, particularly for underserved communities. These metrics will allow us to assess progress in fostering an inclusive digital economy and enabling nationwide digital transformation.
Are there specific policies or initiatives that MDEC plans to introduce to ensure the sustainability of this investment impact?
MDEC collaborates closely with relevant agencies and regulatory bodies to create a supportive, innovation-friendly environment. Initiatives like the Startup Single Window platform have been introduced to streamline processes, centralise resources, and simplify funding applications across government agencies. These steps ensure long-term sustainability and ease of access within Malaysia’s startup ecosystem.
Also Read: TikTok exec Anuar Fariz Fadzil joins MDEC as CEO to drive Malaysia’s digital agenda
Lastly, how does MDEC see this collaboration influencing Malaysia’s competitive positioning within the Southeast Asian startup ecosystem?
This collaboration is expected to significantly enhance Malaysia’s appeal as a destination for startups and investors, establishing it as a strategic entry point into ASEAN. With support from prominent investors like Ascent and CCV, Malaysia is poised to become a competitive player in the regional ecosystem, attracting both regional and global interest and fostering a vibrant, sustainable digital economy.
The post Building Malaysia’s digital future: Ir. Wan Murdani on MDEC’s ambitions with Ascent and CCV appeared first on e27.