CYBERJAYA, Oct 23 — Three Malaysian companies have inked business deals with Silicon Valley’s technology giants to spur the growth of technology and innovation business globally, said Multimedia Development Corporation (MDeC) Chief Executive Officer Datuk Badlisham Ghazali.
He said the partnerships were one of the outcomes from the recent visit by a Malaysian mission to Silicon Valley aimed at showcasing local companies.
“They not only see us as Malaysian companies but they view us as healthy and ambitious companies that are rich with ideas and high competency and also have the resources to make things happen.
“These are the reasons why they partnered with us, and when people asked where are the Malaysian champions, we said the Malaysian champions are now doing this, and these are just samples of them.
“Our recent visit to the hub of innovation led by our Prime Minister Datuk Seri Najib Razak has allowed our companies to connect with innovators, investors, mentors and technology experts,” he told Bernama.
He said the team also assessed how Silicon Valley’s ecosystem could be replicated in our own fashion in the Multimedia Super Corridor (MSC).
“One element is entrepreneurship, not just about the idea and innovations but also supporting institutions that are important to create a healthy entrepreneurship sector in Malaysia, including incubators and accelerators as well as venture capital and funding,” he added.
Najib witnessed the signing of a series of Memorandums of Understandings between Malaysian companies and American companies in Silicon Valley aimed at expanding global operations.
These include the collaborations between Pulsate Sdn Bhd and Dell, and Intel and Revolution Analytics Inc to develop a Big Data Centre of Excellence and a Big Data Academy.
“Pulsate also plans to invest a total of RM100 million over the next five years together with its partners who will contribute cash and expertise in Malaysia,” he added.
In addition, he said, MOL Global Pte Ltd, one of Southeast Asia’s biggest Internet companies, has acquired Silicon Valley-based alternative payment platform provider, Rixty, Inc.
“The company has become the first Asian e-payments service provider to acquire a North American e-payments platform and has launched the MOL online game and digital goods distribution and payment platform in North and Latin America,” he added.
He said a collaboration was also inked between Joota Ventures Sdn Bhd, a Malaysian tech start-up in the social media space, and digital communications agency BrandX Development LLC, to reach out to North American and global audiences.
“The short-term target is to achieve revenue of US$15 million (RM50 million) by end of 2014, and establishing a Malaysian presence in the US and global markets in the social media space.
“Joota aims to carry other Malaysian-made apps to the global market through its social content platform via the development of a developers’ network community starting in Malaysia,” he added.
During the visit, Malaysia invited Silicon Valley industry players to attend the 4th Global Entrepreneurship Summit in Kuala Lumpur held on October 11-12, he said.
“Many investors came to the summit, with investment generated from the two-day event amounting to RM12.6 million, of which about RM9 million was generated by our MSC companies.
“This was the outcome, a lot was done via the matching sessions we had in Silicon Valley, ensuring that we put the right companies and investors together,” he added. — Bernama
