Latest news with #SelangorTwinAcceleratorProgramme
The Sun
2 days ago
- Business
- The Sun
Digital Ministry to harmonise digital ecosystem across states
KUALA LUMPUR: The Digital Ministry is working to unify and scale up initiatives across states and agencies to drive Malaysia's digital economy, said its Minister Gobind Singh Deo. He said the government is actively engaging with state governments and stakeholders, both locally and abroad, to identify best practices and enhance platform integration. 'We are travelling across the country and meeting with our counterparts overseas to understand how they develop their digital platforms,' he told reporters after launching the Selangor Twin Accelerator Programme 2025 organised by the Selangor Information Technology and Digital Economy Corporation (Sidec) here today. Gobind noted that many states have made significant strides in developing their digital industries. 'At the national level, we have agencies such as the Malaysia Digital Economy Corporation (MDEC). At the state level, there are organisations like Selangor's Sidec and Digital Penang. 'Our goal is to bring these efforts together to scale up, integrate, and connect more people to these platforms. MDEC is looking into it,' he said. He stressed that such collaboration would accelerate the adoption of digital tools and reduce duplication of efforts. 'What matters to me is seeing the platforms and organisations already in place, and how we can pool our strengths to build on them, instead of starting from scratch,' he added. National AI Framework in Progress On the proposed national regulatory framework for artificial intelligence (AI), Gobind said his ministry aims to introduce legislation on AI by the second half of 2026 as part of the government's broader efforts to establish a comprehensive national AI governance framework. The ministry is currently exploring the most suitable form of governance. This can be via legislation, regulations, or the adoption of standards, to support technological advancement and to manage the risks, he said. The report, to be finalised by the National Artificial Intelligence Office (NAIO), is expected to lay the foundation for Malaysia's approach to AI regulation, whether this be via new legislation, updated rules, or the adoption of unified standards. Twin Accelerator to Propel Local Startups Meanwhile, the Selangor Twin Accelerator Programme launched today is a dual-track initiative to help Malaysia's most promising startups and small and medium enterprises (SMEs) scale across deep tech and consumer-facing sectors. This year's edition features two main tracks — the Selangor Deep Tech Xccelerator (Deep-X) and the Selangor Retail Tech Xccelerator (Retail-X) to future-proof startups and expand locally and globally. Last year, Sidec announced the first Twin Accelerator Programme, with 100 companies shortlisted, Selangor state executive councillor for Investment, Trade and Mobility Ng Sze Han said. They received RM1.2 million worth of perks and exposure. Twenty companies were shortlisted to expand abroad to Shanghai, China; Ho Chi Minh, Vietnam and Manila in the Philippines, he said. 'This year, the programme has been elevated with a stronger global focus. The two new tracks, Retail-X and Deep-X, are specifically designed to meet the needs of each industry, from SMEs to high-potential startups. 'With the new 'World Stage Venture', top teams will experience behind-the-scenes access to global commerce operations, from ByteDance HQ and TikTok Shop, to Plug and Play in Silicon Valley,' Ng said. Since its inception, Sidec has supported more than 320 startups, facilitated RM203 million in fundraising, and provided international exposure to entrepreneurs through overseas missions. Looking ahead, the Twin Accelerator is a key part of Sidec's roadmap to nurture at least 500 startups by 2030. This aligns with Selangor's and Malaysia's broader digital economy transformation agenda. - Bernama
The Sun
2 days ago
- Business
- The Sun
National AI regulatory framework expected to be tabled by second half of next year: Gobind
KUALA LUMPUR: The national AI regulatory framework is expected to be tabled by the second half of next year, said Digital Minister Gobind Singh Deo. He said Malaysia needs AI governance, but it has not yet been decided if this will involve new legislation, regulations, or just standards. 'I hope to get something tabled. If there is a need for us to table something in Parliament, there probably will be, because I expect that there will be legislation to cover certain areas. I hope to get that legislation in by the second half of next year,' he told reporters after launching Selangor Deep Tech Xccelerator and Selangor Retail Tech Xccelerator today. However, Gobind said his ministry has not received final recommendations although several meetings have been held to discuss it. 'As I keep saying, they are supposed to give me the report.' Gobind said that he will present the findings and recommendations to the Cabinet once he receives the report. 'And then depending on what Cabinet has to say, we will make a decision there from.' The report is being finalised by the National Artificial Intelligence Office (NAIO). Gobind disclosed that it needs careful consideration because different technologies have different risks, and these must be clearly identified before deciding how to handle them. 'How we deal with them is something that we need to think about very carefully.' Selangor Information Technology and Digital Economy Corporation (Sidec), which is celebrating its 10th anniversary, launched the 2025 edition of its Selangor Twin Accelerator Programme, a dual-track initiative aimed at scaling Malaysia's startups and SMEs across deep tech and consumer-facing industries. This year's twin-track accelerator comprises the Selangor Deep Tech Xccelerator Programme (Deep-X) and the Selangor Retail Tech Xccelerator Programme (Retail-X). The programmes are backed by partners including Affin, TikTok Shop, Aeon, Shopline, Cradle, Xendit, DHL, and BytePlus. 'With Deep-X and Retail-X, we are not only accelerating companies but building a fully integrated ecosystem that supports founders at every stage,' said Sidec CEO Yong Kai Ping. Deep-X targets AI-driven deep tech startups in agritech, biotech, healthtech, robotics, semiconductors, sustainability and net-zero innovation. The 12-week accelerator offers mentorship, market access, investor engagement, and RM300,000 in programme value. Running in parallel, Retail-X supports high-potential business-to-consumer SMEs across fashion, lifestyle, food and beverage, health, beauty, wellness and home living sectors. The programme focuses on smart inventory, AI-powered marketing, and omnichannel growth strategies. Finalists will pitch to investors during Retail-X Final Demo Day, with winners to receive cash and perks worth RM50,000, the brand exposure, and a innovation mission to ByteDance, where they will gain behind-the-scenes access to TikTok Shop's commerce technologies. All participants will also receive cloud credits and digital infrastructure support from global tech partners, enabling them to prototype, scale, and innovate faster. Since its inception, Sidec has supported more than 320 startups, facilitated RM203 million fundraising, and provided regional exposure to founders through its missions. Looking ahead, the Twin Accelerator is a cornerstone of Sidec's roadmap to nurture 500 startups by 2030, in line with Selangor and Malaysia's broader digital economy transformation agenda.
