MDEC launches Innovation Exchange programme

• MIX links corporates to pool of over 800 local tech startups and claims to solve pain points
• Programme offers partnerships, market access, talent empowerment, CSR programmes

THE Malaysia Digital Economy Corporation (MDEC) has announced the launch of MDEC Innovation Exchange (MIX), a programme it said is designed to accelerate the digitalisation of the nation’s economy.

In a statement, MDEC said that MIX is part of the agency’s corporate innovation efforts aimed at empowering large corporates with value-added digital transformation via local innovations and bringing together established corporates and world-class local technology players.

MDEC said MIX acts as the link between corporates and high calibre local tech start-ups and scale-ups.

This enables organisations to realise their asset value, understand their pain points and pervasively deploy and utilise digital and data technologies, it claimed.

“The pandemic has brought digitalisation to the fore, rapidly shifting the paradigm of digitalisation and servitisation of the economy. It is no longer a choice but a necessity,” said Surina Shukri, chief executive officer of MDEC (pic).

“In line with the Malaysia Digital Economy Blueprint (MyDigital) and coinciding with our agenda of Malaysia 5.0, MIX will greatly benefit local enterprises, help them pivot digitally and boost their competitiveness, accelerating a nation by providing equitable digital opportunities to the people and businesses.”

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 organisations. The agency will then 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 programmes with accelerators, venture builders and VC communities to unearth and highlight the best technology solutions for potential collaborations, including funding, mentorship, business deals, and 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; and
• CSR Programmes: Participating corporates will be able to collaborate with MDEC on programmes and initiatives such as SayaDigital, eBerkat and the Global Online Workforce (GLOW) to support underprivileged communities in Malaysia.

MDEC claimed that its corporate innovation programmes and initiatives has formed 85 engagements with 85 corporate partners across seven economic sectors – namely telecommunications, manufacturing and engineering, transport, finance, services, property and agriculture and FMCG – alll aimed at  helping them embark on their digital transformation journeys.

To date, the agency said it 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 programme 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 programme.

To register, visit here.