Salutations
1. YAB Dato’ Seri Amirudin Shari
Menteri Besar Selangor
2. YB Tuan Ng Sze Han
Selangor State Executive Councillor for Investment, Trade & Mobility
3. Mr. Yong Kai Ping
CEO of Selangor Information Technology & Digital Economy
Corporation (SIDEC)
4. YBhg. Dato’ Paduka Syed Mashafuddin Syed Badarudin
Chief Executive Officer, Affin Islamic Bank Berhad
Members of the media,
Distinguished guests.
Ladies and gentlemen.
Good morning and Salam Malaysia Madani.
1. I wish to express my sincere gratitude to SIDEC and our esteemed partners, for organising the launch of the Twin Accelerator Programme. This event represents a significant step forward in our collective journey to enhance the digital economy, and to foster a thriving entrepreneurial ecosystem in Selangor.
2. The launch of the Twin Accelerator Programme is a pivotal moment for Selangor, and Malaysia as a whole. Through the Selangor Accelerator Programme (SAP24) and the Selangor E-Commerce Xccelerator (ECX24), we are laying the foundation for the future of our nation’s SMEs and startups. This initiative is a clear testament of our commitment to drive high-impact, high-growth businesses that will contribute to our economy.
3. Innovation and entrepreneurship are the cornerstones of economic growth. The Twin Accelerator Programme embodies our vision of equipping our entrepreneurs with the necessary tools, knowledge, and opportunities to thrive in a rapidly evolving digital landscape.
4. Selangor’s transformation into a digital hub is no coincidence. It is the result of strategic investments, collaborative efforts, and a shared vision to position Malaysia as a global leader in the digital economy. In fact, the state is already leading the way. Data from the Department of Statistics Malaysia showed that Selangor contributed RM406.07 billion or 25.9 per cent to Malaysia's gross domestic product (GDP) in 2023.
5. The state also contributed RM769.9 billion or 29.2 per cent of Malaysia's total trade of RM2.637 trillion in the same year (2023). The digital economy is a priority among the stakeholders in the state, evident in a ‘digital export’ dialogue held at the recent Selangor Export Day 2024. I also look forward to the discussions at the 9th Selangor Smart City & Digital Economy Convention scheduled next month.
6. As Minister of Digital, I am proud to affirm that the Federal Government fully supports initiatives such as the Twin Accelerator Programme. These efforts are critical not just for Selangor, but for the entire nation as we seek to establish ourselves as a powerhouse in the global digital economy.
7. The Twin Accelerator Programme focuses on sectors that will define the future — Artificial Intelligence (AI), Smart Mobility, Bio-Based Solutions, and Net Zero status for SAP24 – alongside key industries such as food & beverage, fashion & lifestyle, health & wellness, and social impact for ECX24. The innovations and solutions developed within these areas have the potential to create new industries, generate employment, and improve the quality of life of Malaysians across the nation. This initiative is not just about advancing Selangor; it is about contributing to the broader economic prosperity of Malaysia.
8. This remarkable progress would not have been possible without the collaboration from our partners. A big thank you to Affin Bank, Invest Selangor Berhad, FIUU, WORQ, TikTok Shop, AEON, Shopline, and Pos Malaysia for your support. These partnerships are instrumental in ensuring that the Twin Accelerator Programme delivers maximum value to its participants and to Selangor as a whole.
Ladies and gentlemen,
9. The Malaysia Digital Economy Corporation (MDEC), an agency under my Ministry, has various impactful initiatives, including the Gateway,Amplify, Invest & Nurture (GAIN) programme. It helps drive market access programmes for Malaysian tech companies through B2B matching, and networking activities with global players.
10. Since 2017, ‘GAIN’ has accessed the markets of over 26 nations. It has seen the involvement of over 150 Malaysian tech companies and organised over 1,000 one-to-one business meetings. Thanks to the direct facilitation under ‘GAIN’, we have seen revenues of RM31.9 billion (since 2017 to date) and exports worth over RM11.2 billion.
11. Under the GAIN initiative, MDEC, SIDEC and InvestSelangor collaborated in an event called ‘Southeast Asia’s Business Boom: Sealing Deals’ held in conjunction with London Tech Week in June 2024. There, MDEC introduced 10 Malaysian tech companies - in the areas of AI, IoT, ESG, and fintech - to present elevator pitches to representatives of foreign governments, trade associations and corporations. The event served as a great platform for Malaysian companies to amplify their visibility, and to showcase their capabilities.
12. We have seen SIDEC and MDEC cross-promote Integrated Circuit (IC) design and embedded software companies under the Selangor IC Design Park Initiative. SIDEC has also been promoting the Malaysia Digital (MD) programme to relevant companies. SIDEC has introduced and connected MDEC to local and foreign IC design companies, and players. They include SkyeChip, Weeroc, Shenzhen Chipsbank Technologies, and Marquee Semiconductor. I have been informed that SkyeChip aims to produce 500 IC talents over the next 3 years, while Weeroc, Chipsbank and Marquee Semiconductor are applying for MD status.
13. MDEC has also been the strategic partner for the Selangor Accelerator Programme since 2018, and currently, MDEC and SIDEC are planning to strengthen their collaboration to create a bigger talent pool. Under MDEC's Premier Digital Tech Institutions (PDTI) programme, the two organisations are currently working together to produce more skilled workers, specifically in IC design and AI. The programme includes an Electrical & Electronic Master's scholarship in Taiwan. PDTI lecturers will be invited to join the annual Taiwan AI Academy Conference, which will be held later this month.
Ladies and gentlemen,
14. This Twin Accelerator Programme, is yet another example of what can be achieved when various stakeholders unite to achieve a common goal. Together, we are creating an environment where innovation thrives and businesses grow, ultimately driving the digital economy forward. This is what we mean by the Whole of Government and Whole of Nation approaches.
15. A key feature of this programme is the mentorship provided by industry leaders like Carsome, ZUS Coffee, Secret Recipe, and the Lego Group. Their expertise will be invaluable in guiding our participants to success, helping them navigate the complexities of building and scaling businesses in today’s competitive market.
16. The opportunity for ECX24 participants to engage in a special programme by ByteDance (parent company of TikTok) in Shanghai is truly extraordinary. This experience will not only provide access to global markets but also offer critical insights into the latest trends in e-commerce and digital marketing, setting the stage for these entrepreneurs to excel on the global stage.
17. The vision for this programme is clear – to nurture more than 300 entrepreneurs over the next 5 years, who will go on to create companies that will contribute to Selangor’s GDP, and beyond. The success of these startups and SMEs will have a ripple effect across the nation, driving economic growth, enhancing our global standing, and ensuring that Malaysia remains a vibrant hub of innovation and entrepreneurship.
18. I must commend SIDEC and the Selangor State Government for leading the digital transformation of Selangor as Southeast Asia’s digital hub.
19. You have stayed true to your objectives – nurturing Selangor’s digital talents; narrowing the digital divide; accelerating Selangor startups to become regional tech icons; empowering Selangor businesses; and SME digitalisation.
20. Your objectives are based on the three key sectors of the digital economy, namely e-Commerce, startup, and SME digitalisation. I hope to see more states organising similar digital initiatives.
Ladies and gentlemen,
21. The Ministry of Digital will continue to work closely with state governments, their agencies, educational institutions, and the private sectors to get Malaysia’s digital transformation going. Digital initiatives are not restricted to certain agencies or territories. In fact, digital initiatives can achieve success if they are supported by stakeholders across the board, such as federal and state governments, and the public and private sectors.
22. YAB Dato’ Seri Amirudin, on behalf of the Ministry of Digital, I would like to reaffirm our commitment to support the state’s digital initiatives. Together, we will ensure the continued growth and success of Selangor’s and Malaysia’s digital economy.
23. As for the participants of the Twin Accelerator Programme, I urge you to innovate, collaborate, and strive for excellence. The future is bright, and the possibilities are endless.
I wish all of you great success in your journey ahead. Thank you.
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