MDEC gives RM 2.35 mln grants to SMEs, start-ups

February 23, 2021

KUALA LUMPUR, Jan 29 — The Malaysia Digital Economy Corporation (MDEC) has disbursed RM2.35 million worth of grants benefiting 47 grant recipients from small and medium enterprises (SMEs) and start-up sectors.

In a statement today, MDEC said the recipients of subsidy include: the industry of Producing creative digital content (70 per cent), followed by professional services (21 per cent), education (7 per cent) and other industries (2 per cent).

The disbursements were made under the Digital Content Grant (DCG) 2020 in Budget 2020 and National Economic Recovery Plan (PENJANA) DCG.

MDEC's chief executive officer Surina Shukri said the agency had set the scene for SMEs and start-ups to thrive in the Fourth Industrial Revolution era, which caused to empower digitally-skilled talents, enable digitally-powered businesses and attract digital-sector investments.

MDEC is here to support the digital ecosystem and accelerate digital adoption. These grants go towards building capacity and capability, providing businesses the opportunity to become regional champions.

By 2025, the reinvented MDEC will firmly establish Malaysia as the Heart of Digital ASEAN (Association of Southeast Asian Nations).

Currently, MDEC is evaluating and announcing the recipients of more successful grants on the stock exchange. These initiatives that aim to empower digital businesses are part of MDEC’s three strategic framework pillars namely Digital Jobs, Digital Businesses and Digital Investments, according to MDEC.