Malaysian tech companies accelerate expansion via MDEC’s virtual market access drive

Kuala Lumpur, 27 June 2020- As the pandemic is gradually receding and the nation is moving towards economic recovery phase, tech entrepreneurs are eager to fulfil post-pandemic tech demands of the region.

The recent virtual GAIN Connex Indonesia event, hosted by the Malaysia Digital Economy Corporation (MDEC) drew 105 participants, including 40 Malaysian tech companies, 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 is MDEC’s signature market access programme for local tech companies to accelerate their growth and rapidly expand their footprint globally.

During the event, founders of three Malaysian home-grown tech companies, GHL Systems Bhd, Fave Asia Technologies Sdn Bhd and Urban Mobility Asia Sdn Bhd (Moovby), highlighted the impact of MDEC’s market access initiative which enabled their business 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.

According to Gopi Ganesalingam, Vice President of MDEC’s Global Growth Acceleration Division, GAIN Connex Indonesia has performed 190 business matchings between 2017 to 2019 resulting in an opportunity value of RM678 million.

Despite the hurdles of Covid-19, Gopi said their companies have not wavered from innovating and creating novel digital solutions, such as contactless transactions, e-learning, ewallets, fleet management and a host of business applications via softwareas-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.

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.

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.

-Business Today