KUALA LUMPUR: Malaysia Digital Economy Corporation (MDEC) has inked two groundbreaking memorandums of under-standing with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV) to strengthen Malaysia’s digital economy.

These strategic partnerships bring in capital investment of up to US$45 million (RM200 million) to fuel innovation, accelerate the growth of local startups and reinforce Malaysia’s role as a premier digital hub within the Asean region.

The combined funding will be instrumental in fostering the growth of Malaysian startups, particularly in line with Malaysia’s KL20 initiatives and reinforcing our country’s position as a key player in the Southeast Asian startup ecosystem.

Ascent has committed to investing in early-stage Malaysian startups in critical sectors, including fintech, embedded finance, healthcare, sustainable agriculture, SME enablers, and next-generation technologies such as artificial intelligence (AI) and robotics.

This capital injection is expected to drive financial inclusion, promote digital transformation, and enable promising startups to scale regionally.

By leveraging this investment, Malaysia can position itself as a leader in innovation across these domains.

Simultaneously, Central Capital Ventura (CCV), the venture arm of Indonesia’s largest private lender Bank Central Asia (BCA), is committing to open access for Malaysian startups to collaborate with the regional ecosystem network CCV has in Southeast Asia.

This investment aligns with MDEC’s efforts to accelerate growth in key areas such as artificial intelligence (AI), cybersecurity, blockchain, and digital finance offer critical support for Malaysian startups in these high-growth sectors.

Attracting global investments like these reinforces MDEC’s commitment to nurturing talent, driving digital inclusion, and strengthening Malaysia’s role as a regional leader in technological advancements.

The strategic MoUs will enhance cross-border innovation, allowing Malaysian companies to leverage the resources and expertise provided by Ascent and CCV to expand their operations and compete globally.

These partnerships will drive local innovation, foster talent development, and contribute significantly to Malaysia’s transformation into a dynamic digital-first nation.

These collaborations will offer Malaysian startups access to international markets, mentorship from industry experts, and potential follow-on investments.

MDEC will work closely with Ascent and CCV to ensure the successful execution of these initiatives and to maximise their long-term impact on Malaysia’s digital economy.