- Malaysia sets aside a special matching grant for companies
- MDEC partners with global digital transformation labs to support the ecosystem
IN LINE with its commitment to accelerate the nation’s digital transformation, Malaysia Digital Economy Corporation (MDEC) on April 9 kicked off the Digital Transformation Acceleration Programme (DTAP).
The programme will provide Malaysian companies a structured approach to digital transformation and will leverage on Digital Transformation Labs’ expertise to help businesses adopt emerging digital technologies.
“Digital transformation enhances the ecosystem which in turns increases the productivity and sustainability of Malaysia. Companies, whether they are in the manufacturing or services sector, need to future-proof their businesses to remain competitive. Mida has been working with MDEC to structure the DTAP towards lifting Malaysian industry players in the priority sectors to assist them in their digital adoption journey.
“MIDA has been facilitating the shift of home-grown companies through the Domestic Investment Strategic Fund (DISF), and we are expanding it to cater for MDEC’s DTAP. We hope that these efforts will continue to get the support from the industries and in the long run, we will have more capable Malaysian champions to penetrate the global market,” said Malaysian Investment Development Authority (Mida) chief executive officer Azman Mahmud.
Established for large corporations and mid-tier companies, DTAP is an outcome-driven programme which aims to help businesses achieve an increase in productivity, reduce foreign labour dependency as well as create new sources of growth or business models.
“Digital disruption is inevitable; it is the way of the world now. It is imperative for businesses to embrace the changes that come with digital innovation. To stay competitive, Malaysian companies must rapidly adapt to the way technology is changing the rules of business and increasing efficiency. Homegrown businesses - like Top Glove and Gamuda Land - have successfully integrated digital technologies to their business processes.
“Now, that move has yielded positive results. However, the digital transformation journey is not an easy road. That realisation has inspired the establishment of DTAP. Through this programme, Malaysian businesses will receive support, guidance and be part of an ecosystem that will provide a structured approach to the transformation into the digital world,” said MDEC chief executive officer Yasmin Mahmood.
“Participants of the DTAP will work closely with our Digital Transformation Labs partners which consists of global experts to provide consultancy, expertise in development and execution of digital transformation pilots.
The goal is to help Malaysian companies become world class entities, and the best way to achieve that is by connecting them with global Digital Transformation Labs. With these global connections, we are able to give companies the global exposure that they need,” added Yasmin.
The programme will unfold in two phases. In the pilot phase, the businesses will leverage on the expertise of the Digital Transformation Labs to identify pain points and opportunities in the digital space, uncover potential solution and implement proof of concept/minimum viable product with measurable outcomes. Upon successful completion of the pilot phase, between six months to one-year period, businesses can apply to undergo for full-scale implementation.
DTAP is accompanied by an outcome-based matching grant, which is a partnership between MDEC and Mida. The grant is created with the objective of assisting companies to leverage on digital transformation lab’s expertise and assistance in addressing pain points or exploit opportunities in the digital space, while adopting emerging digital technologies.
With the grant, companies will be reimbursed based on the outcome achieved - increase productivity, reduce foreign labour dependency as well as create new source of growth or business model.
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