Malaysian tech companies gear up to expand via MDEC’s virtual market access drive

• Entrepreneurs forge on eager to fulfil post-pandemic tech demands of region
• GAIN Connex Indonesia and Philippines goes digital to minimise disruption

The Malaysia Digital Economy Corporation (MDEC) yesterday hosted GAIN Connex Indonesia in full digital mode, surmounting travel, financial, logistics and social challenges that are expected to linger for months to come in the era of Covid-19.

The virtual event drew 105 participants, including 40 Malaysian tech companies that were given exclusive insights on doing business in Indonesia, gaining market access in the republic, exploring potential partnerships and navigating through investment and exit options.

GAIN Connex Indonesia comes two months after MDEC ambitiously transformed its market access initiative to an online platform by piloting with GAIN Connex Philippines, which saw the participation of 25 Malaysian tech companies that are presently engaged in online business-matchings with potential deal values of RM15 million and growing.

Highlights of GAIN Connex Indonesia include a sharing session by founders of three Malaysian tech companies, GHL Systems Bhd, Fave Asia Technologies Sdn Bhd and Urban Mobility Asia Sdn Bhd (Moovby), who accentuated the impact of MDEC’s market access initiative that has enabled them to navigate the challenges of venturing into Indonesia.

Today, all three companies have positive synergies with key Indonesian players within the payment solutions, merchant rewards and car-sharing space, which are thriving segments in the republic’s digital economy and reliant on innovations that can be potentially fulfilled by Malaysian tech companies.

The Trade Commissioner of MATRADE Indonesia, Har Man Ahmad, asserted that opportunities are rife in sectors of e-commerce, cybersecurity, fintech and big data, which provides ample prospects for Malaysian tech companies to offer their innovations via strategic alliances with Indonesian partners.

According to Gopi Ganesalingam (pic), vice president of MDEC’s Global Growth Acceleration Division, GAIN Connex Indonesia has performed 190 business matchings between 2017 to 2019 involving a wide range of Malaysian tech companies and regional ecosystem partners, resulting in an opportunity value of RM678 million.

“Despite the hurdles of Covid-19, our companies have not wavered from innovating and creating novel digital solutions; many of which are to fulfil the needs of the new normal such as contactless transactions, e-learning, e-wallets, fleet management and a host of business applications via software-as-a-service. Driven by the grit of our entrepreneurs, MDEC remains committed to our mission as growth enablers, passionately uniting the digital ASEAN landscape,” added Gopi.

Among the Malaysian companies that participated in the first virtual GAIN Connex Philippines was smart ID solutions provider, CALMS Technologies, whose regional sales & marketing manager, Zulhusmie Aripin said, “The partners that MDEC has been connecting us to, both physically and virtually, are ardent industry players that we want to be associated with for business expansion.”

Ken Yeo, director of Global Online Lifestyle Systems, whose company provides intelligent contactless control panels also shared his sentiments on virtual GAIN Connex Philippines, claiming that MDEC’s market access drive fosters symbiotic partnerships that are crucial for entrepreneurs to spark new ventures and get up to speed with current tech and trade trends.

Facilitated annually by MDEC’s Global Growth Acceleration division in four major Southeast Asian cities (Jakarta, Manila, Bangkok, and Ho Chi Minh City), GAIN Connex has established itself as a much-anticipated event among tech entrepreneurs and ecosystem partners in Southeast Asia.

Dates of the upcoming virtual GAIN Connex Cambodia, Vietnam, Thailand and soon Australia will be announced by MDEC in the coming weeks.

For more information on GAIN Connex, visit www.mdec.my