MOU signing ceremony

The Penang state government is on track to meet its target of achieving 500 tech start-ups in line with its Penang Vision 2030.

This is following the signing of the memorandum of understanding (MOU) between Digital Penang and Malaysian Business Angel Network (MBAN) held at The Wembley Hotel here.

Present to witness the ceremony was State Exco for Infrastructure and Transport and vice chairman of Digital Penang YB Zairil Khir Johari.

Also present was Digital Penang chief executive officer Ts Ng Kwang Ming, president of MBAN, Alan Lim, Dr Melissa Foo, VP of MBAN, Cradle VP of Super PMO, Harmender Singh among others.

“Technology start-ups are crucial for the economy as they create innovative and new ways for the state and country. They can also transform communities like Penang based start-ups like JobStreet, Exabytes, DeliverEat, and many more

“We believe that our region has the potential to become a hub for tech innovation and we are committed to providing a conducive environment for entrepreneurs to succeed,” said Zairil.

YB Zairil

Meanwhile, Ng added that they are excited to partner MBAN to create a more vibrant and dynamic ecosystem that drives innovation, creates jobs and makes a positive impact on society. 

“Through this partnership, we hope to create a virtuous cycle of growth and success for startups, providing the vast number of startups in the state with local and global opportunities in order to succeed,” he said.

Later Lim in his address said that MBAN and Digital Penang share a common vision in creating a thriving startup ecosystem and believe that their network will be a solid backbone for early-stage startups seeking financial and mentorship support.

“This partnership will facilitate cross-collaboration, allowing both parties to leverage their strengths and resources to create mutually beneficial outcomes contributing to Penang’s economic growth,” he added.

In line with their commitment, MBAN also launched the Penang Chapter.

Later, Harmender also gave a presentation to update guests on the latest developments in the digitial technology.

MOU signing between Digitial Penang and MBAN