PUTRAJAYA: Eight government-linked companies (GLCs) have been chosen to participate in the Bengkel Inovasi GLC (BIG) programme, a joint initiative by the Ministry of Finance (MOF), the Ministry of Science, Technology and Innovation (MOSTI), and Cradle Fund Sdn Bhd.
Each selected GLC will receive matching grants of up to RM2 million, totalling RM10.7 million in funding.
The participating GLCs are Bank Islam, CelcomDigi, EDOTCO, Malaysia Aviation Group, Sime Darby Property, S P Setia, Tenaga Nasional Bhd, and Cenviro.
According to Cradle, the selection was based on their use of innovative digital technology and artificial intelligence (AI) to improve operational efficiency and business growth.
“The selection of the GLCs is based on the use of innovative digital technology and artificial intelligence (AI) that have been highlighted and have high potential to enhance operational efficiency, support business growth and scaling in their respective industries,“ said Cradle.
MOSTI Minister Chang Lih Kang emphasised that BIG aligns with the government’s efforts to bridge the gap between startups and corporations.
“MOSTI is proud to support this initiative through the National Technology and Innovation Sandbox (NTIS) and our deep tech network,“ he said.
Finance Minister II Datuk Seri Amir Hamzah added that the programme aims to foster corporate innovation and strengthen ties between GLCs and startups.
“If successful, the MOF hopes to expand this programme to the private sector in the future,“ he said.
Over the next six months, the selected GLCs will work with startups and business developers under two tracks: the Venture Client Track and Venture Co-Creation Track.
They will develop proof-of-concept projects to be showcased in a Demo Day session.
Startups interested in collaborating with the GLCs can register via the BIG website at https://big.myopeninnovation.com/. – Bernama
