Sidec spurs Selangor to become ASEAN digital hub - MIDA | Malaysian Investment Development Authority
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Sidec spurs Selangor to become ASEAN digital hub

Sidec spurs Selangor to become ASEAN digital hub

20 Jan 2022

Aiming to lead Selangor’s digital transformation in becoming ASEAN’s digital hub, Selangor Information Technology & Digital Economy Corporation (Sidec), has been actively championing efforts to develop digital-native talents and provide support to businesses in recent years.

Despite the importance of digitalising, many businesses and SMEs are still struggling to embrace the digital world due to lack of knowledge, skills and experience in pivoting away from traditional business models.

With 98.5 per cent of business establishments in Malaysia being SMEs, they represent the backbone of the country’s economy. Of these states, Selangor has the highest number of SMEs, constituting 19.8 per cent of the total, according to a statement.

Between 2015 and 2020, Sidec has enlisted 650 companies onboard the Online 100 & Brands 100 programme, achieving RM650 million in gross merchandise value (GMV). Since 2018, the agency has nurtured a total of 120 startups through its Selangor Accelerator Programme.

In addition, through the Selangor E-Bazar Campaign, some merchants were reported to have recorded a spike in sales ranging from RM2,000 to RM3,000 in a month, to RM12,000 to RM30,000, via e-vouchers.

Since April 2021, the Selangor government, through Sidec, channelled RM5 million to 1,048 small and medium enterprises (SMEs) via the Selangor SME Digitalisation Matching Grant.

By last October-end, 1,048 SMEs have been able to digitalise their businesses, with many of them witnessing improved sales and being able to minimise operational costs.

Sidec continues to improve its programmes, including the Selangor Online 100 and Brands 100, E-Commerce Class and Masterclass as well as Selangor Accelerator Programme (SAP). An accelerator programme focusing on the fashion and gaming industries is also in the pipeline.

The upcoming Selangor Accelerator Programme will focus on financial technology and AI. The agency hopes to discover and cultivate more talents within these fields as Selangor strives to become a leading Smart State in Southeast Asia by 2025.

Source: Bernama