Tag: tech startups

Cyberjaya, Malaysia – Malaysia Digital Economy Corporation (MDEC) and Malaysian Technology Development Corporation (MTDC), have signed a memorandum of understanding (MoU) to strengthen the alliance between the two government agencies, aimed at further catalysing the growth of technology companies in the country, ensuring maximum reach and impact.

As part of the MoU, MDEC and MTDC will co-develop technology-based entrepreneur development programmes, as well as in the promotion of digital technologies, and their adoption amongst startups, MSMEs, and SMEs. It will also seek to open up more funding facilitation and opportunities for tech companies.

Mahadhir Aziz, MDEC’s CEO, said that leveraging each organisations’ platforms and expertise in support of meeting its objectives will be the key thrust of the collaboration.

“With this MoU, we will be able to ensure further reach, efficiency and impact on our tech ecosystem and increase Malaysia’s competitiveness in the digital economy. The race to produce successful global champions is a shared responsibility and this MoU is evident of Malaysia’s holistic approach. Through this initiative we are able to move as one nation to drive forward the MyDIGITAL core objectives,” added Aziz.

Meanwhile, Norhalim Yunus, MTDC’s CEO, noted that the MoU will be a platform for their partners in MTDC’s Centre of 9 Pillars (Co9P) to collaborate with the companies and partners under MDEC. 

He further shared that MTDC’s Co9P community members will assist the companies in the areas of Industry 4.0 and digitalisation.

“This opportunity to work with the companies under MDEC will be part of expanding our Co9P into other regions in Malaysia and an opportunity to build linkages with its global partners by providing advisory business with MDEC as our strategic partner,” said Yunus.

Hanoi, Vietnam – ThinkZone Ventures, the venture capital fund focusing on tech startups, has launched its ‘ThinkZone Fund II’, which deems to be the largest venture capital fund in Vietnam, aimed at supporting the growth of Vietnamese startups.

‘ThinkZone II Fund’, which was founded by ThinkZone Ventures and other notable Vietnamese conglomerate owners that specialises in finance, retail, manufacturing, agriculture and F&B, seeks to provide a huge amount of support to accelerate the growth of startups, and to further create sustainable development for the economy.

With its US$60m fund, ThinkZone Ventures will be investing in tech startups in various verticals from Pre-Seed to Series A, offering up to US$3m per startup. It will be accompanying founders who have great vision, passion, and ambition to create products that create positive impacts for society.

Besides financial resources, the biggest advantage of ‘ThinkZone Fund II’ is the huge support from large Vietnamese conglomerates in many fields such as investment corporation IPA Investments, multi-industry investment group Phu Thai Holdings, and multi-industry corporation and primary plastic resins distributor Stavian Group.

Bui Thanh Do, ThinkZone Ventures’ general partner and CEO, said, “I and ThinkZone always want to contribute and create a launching pad for founders who have the passion and vision to create positive values for society. With Fund II, ThinkZone has more resources than ever to make that happen.”

Meanwhile, Pham Minh Huong, IPA Investments’ co-founder and VNDIRECT’s chairwoman, shared that Fund I has proven that ThinkZone has selected and developed companies with great potential, and with Fund II’s large resources, there are sure to be many more successful companies. 

“This is also the first amount of capital that IPA allocates for startup investment, and ThinkZone is the very place that we trust to invest,” said Huong.