July, August & September 2023
Malaysia’s tech news headlines from 2023’s third quarter captured items in fields including: startup achievements of the country’s sovereign wealth fund, Kazanah Nasional Berhad; moves in Penang to boost the region’s tech startup ecosystem; HSBC Malaysia’s new $106 million fund for innovation; and many more.
For our other editions, you should take a look at Asia’s tech news, daily, delivered via social media channels, and our Indo-Pacific tech newsletters for a weekly update on the region’s tech news.
Hit the links below for each month’s headlines, or scroll down for an all-in-one update on Malaysian technology news in Q3 2023:
September 2023 | August 2023 | July 2023
e-Conomy Southeast Asia 2023 – Malaysia country report
September 2023
Malaysia National Blockchain Roadmap 2021-2025
- Malaysia: China’s xFusion, computer power and infra services firm, partners Malaysia’s NationGate for RM1.7BN global supply centre in Penang
- Malaysia: MYStartup NXT Penang micro-conference for founders, investors & developers is set for September 13-14
- Malaysia Digital Economy Corp and Airbnb in MoU to collaborate on DE Rantau initiative, aiming to establish Malaysia as global hub for digital nomads
- Malaysia: An overview of the government’s sovereign wealth fund, Kazanah Nasional Berhad, and the many ways in which it is investing in the country’s future
“The Future Malaysia Programme (FMP) is one such expression of that focus, specifically for local entrepreneurs, start-ups and businesses to spur innovation and economic growth by driving strategic collaboration within Malaysia’s start-up and corporate venture ecosystem – fostering the sharing of ideas and enhancing business value creation.
“The FMP and other initiatives launched are important milestones for Dana Impak and the wider Khazanah in increasing Malaysia’s economic competitiveness and building national resilience.”
- Malaysia Digital Economy Corp and City Uni of Hong Kong ink MoU to develop connections between the innovation, entrepreneurship and startup ecosystems in HK and Malaysia
- HSBC Malaysia unveils $106M HSBC New Economy Fund to provide funding solutions for tech-led businesses emerging startups from Series B stage onwards
- Malaysia: Singapore’s GlobalFoundries chip-maker opens new facility in Penang, creating 300 roles supporting Singapore, US and European operations
- Malaysia: Gov’t KWAP pension fund launches Dana Perintis initiative, aiming to invest up to $206M across 24 months into Malaysian early-stage firms, innovation and ecosystems
e-Conomy Southeast Asia 2023 report – Google, Temasek, Bain and Co
August 2023
Malaysia Startup Ecosystem Roadmap 2021-2030 (pdf link)
- Malaysia: FWD Startup Studio and 1337 Ventures launch FWD Startup Studio Accelerator cohort 5, a 13-week program for insurance-tech or adjacent vertical startups
- Malaysia: Slush, major tech startup event from Finland, expands with new conference in Kuala Lumpur, Slush’D KL 2023, set for October 26th
- Malaysia: Digital Penang Hardtech Accelerator Program applications are open to August 25th, providing coaching and mentoring towards commercialization
- Malaysia’s Capital A, formerly AirAsia Group, partners Philippines’ UnionDigital Bank to embed BigPay, Capital A’s fintech arm, in Southeast Asian markets via super-app integrations
“Capital A is entering into a partnership with UnionDigital Bank, the digital bank subsidiary of Union Bank of the Philippines, involving three key subsidiaries, namely AirAsia, airasia Superapp, and BigPay…”
“AirAsia is the airline business of Capital A, while airasia Superapp is the one-stop travel platform offering services from flights, hotels, ride-hailing, loyalty programs and more. BigPay is the fintech arm providing accessible and secure digital financial services with the vision of improving financial wellbeing and accessibility in Southeast Asia.”
“UnionDigital Bank’s role will be to provide embedded finance in partnership with BigPay within the airasia Superapp travel platform, the main booking channel for AirAsia flights in the Philippines.”
- Malaysia: China’s EVE Energy lithium battery manufacturer breaks ground on new manufacturing facility – its 53rd – in Kedah, with initial investment of $422M
- Malaysia: Ministry of Science, Tech & Innovation announces that Cradle Fund has contributed $400M to GDP, and created over 80K jobs, since 2003 establishment, via grant and investment programs
- Malaysia: An intro to Collektr, aiming to be Southeast Asia’s go-to platform for digital collectibles
- Malaysia: CompAsia, ‘recommerce’ platform for used electronics, gains Series A, partnering major telcos to assist with buyback and trade-in programs
- Malaysia: An intro to 6 Malaysian startups featured on Forbes Asia’s 100 To Watch list, working on generative AI in medical diagnostics, drones, vertical farming and beyond
Malaysia: Digital Penang initiative
- Malaysia: PM sets target of 5000 new startups in the country’s digital economy by 2025, with ‘single window’ initiative to streamline cooperation between industry and gov’t agencies
- Download: ‘Digital Trust Insights 2023 – The Southeast Asia Perspective’ from pwc, a survey of 122 business, tech & cybersec execs across Indonesia, Malaysia & Singapore
- An intro to i2Cool and Super Bamboo, startups backed by City Un of Hong Kong’s HK Tech 300 incubator, providing building-cooling paints and sustainable building materials respectively
- Malaysia’s iPrice ecommerce platform, backed by Indonesia’s Bukalapak, launches product price comparison site for Australian market
Creative Digital District / George Town, Penang, Malaysia
July 2023
Malaysia Startup Ecosystem Roadmap 2021-2030 (direct pdf link)
- Malaysia: iMotorbike platform for buying and selling pre-loved motorcycles, parts and accessories raises $256K Series A, with sights on new regional markets and inspection centres
- Malaysia: Selangor Accelerator Programme opens applications for Cohort 6
- Malaysia: India’s Razorpay fintech and payments solutions provider launches its first international payment gateway service in Malaysia
- Malaysia: Tesla Model Y all-electric SUV to be available in Malaysia from July 20th
KPMG Venture Pulse Q2 2023 Report – Asia findings
“TikTok Shop will include Atome as a payment option, which would allow customers to spread deferred payments over three or six months.”
“Atome is the BNPL arm of Singapore-based fintech firm Advance Intelligence Group, which is backed by major investors like SoftBank Vision Fund 2 and Warburg Pincus.”
- Malaysia: MYStartup Bootcamp 9-week program for first-time founders is open for applications until August 31st, delivered in partnership with Tech in Asia School
- Malaysia’s MY EG gains regulatory approval for blockchain-based customs clearance and processing on trade flows between the Philippines and China
SharePass: Online digital security solution
Indo-Pacific TECH news
All-day tech news updates from across the broad – and increasingly strategically and technologically important – Indo-Pacific region, and across South and Southeast Asia:
- Indo-Pacific tech daily on Twitter
- Indo-Pacific tech daily on Facebook
- Indo-Pacific tech news on LinkedIn
Our mobile app is currently offline, due to the ongoing devolution of what was Twitter, now X.
We aim to have the app back online with a much-improved interface and broader functionality by the end of 2023.
World Economic Forum: Space Applications in Agriculture
Indo-Pacific TECH newsletter
Our weekly e-newsletters go out via Substack and LinkedIn, giving a one-glance grasp of the week’s technology news from the Indo-Pacific and South & Southeast Asia.
