SDEC records up to RM80m in potential transaction value

KUALA LUMPUR: The 8th Selangor Smart City and Digital Economy Convention (SDEC), which was held from Oct 19 to 22, attracted over 15,000 attendees and generated a potential transaction value of up to RM80 million.

The Selangor Information Technology and Digital Economy Corporation (Sidec) said the four-day event facilitated 54 business matches, offering a platform for networking, engaging keynote presentations, dialogue sessions and pitching sessions from 20 startup companies.

In a statement today, the corporation said these activities nurtured a rich exchange of ideas and insights, contributing to the evolving sectors of sustainability, digital innovation, and entre-preneurship.

CEO Yong Kai Ping said that Sidec’s success at the event was a testament to SDEC’s role as a trailblazer in spearheading digital transformation.

“It reflects our unwavering commitment to revolutionising the industry, driving innovation that not only meets but exceeds the evolving needs of businesses in the digital age.

“SDEC is not just keeping pace, we are leading the charge towards a future where technology seamlessly integrates with logistics and entrepreneurship, creating a landscape of limitless possibilities,” he said.

He also noted that the firm solidified its commitment to fostering innovation among local businesses, startups, and technology entrepreneurs by signing five memorandums of understanding (MoU) and partnership exchanges.

Among the partnership deal exchanges were between Sidec and Yinson; Sidec and Taipei Computer Association, while MoUs were signed between the Selangor Digital School and the Malaysian Inbound Chinese Association; Selangor Digital School and the Internet Alliance; and Mydin and Wavpay.

During the event, Sidec said there was also a launch of the new data portal, the Selangor Government Data Exchange, the Demand-Responsive Transit Selangor Mobility Zone and Logo.

Sidec has also marked the conclusion of 2023 with an outstanding array of achievements, solidifying its position as a driving force in the region’s digital landscape, playing a pivotal role in reshaping the digital landscape, fostering innovation, and contributing to the economic development of the region.

“A key highlight of 2023 was Sidec’s instrumental role in fostering partnership between public and private sectors, facilitating an environment conducive to innovation and growth.

“This includes the completion of its twin accelerator programmes, the Selangor E-Commerce Xccelerator (ECX) 2023 and the sixth edition of the Selangor Accelerator Programme (SAP),” it noted.

It shared that 10 startups under the SAP 2023 and five e-commerce merchants under ECX 2023 were crowned as winners, solidifying their status as trailblazers in the region’s burgeoning technology and entrepreneurship scene.

The winners received cash prizes and international business trips designed to spur innovation, expansion and networking opportunities and will also be inducted into the CXO Club, an exclusive enclave of premier businesses, another one of Sidec’s key introductions this year.

“The CXO Club was borne out of our mission to provide our accelerator programme graduates with an avenue that would assist them in reaching their milestones in garnering users, revenue and funding under the guidance of seasoned industry veterans known as the ‘Supercoach’”.

“These coaches will guide the next generation of businesses through every business cycle, with the possibility of even achieving significant liquidity events such as initial public offerings or mergers and acquisitions.

“We hope to continuously play a role in uplifting and transforming the SMEs and startup founders of the state and nation into serial entrepreneurs or even venture capitalists,” Yong said.

Looking to 2024, Sidec said it remains committed to fostering growth, innovation, and positive change.

Positioned as a catalyst for advancement, the organisation is set to continue driving initiatives that elevate Selangor’s digital landscape, forge new partnerships, and create a dynamic ecosystem for businesses to thrive, it added. – Bernama

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