MDEC (Multimedia Development Corporation), the Malaysia’s national ICT custodian has launched the ‘MSC Malaysia for Startups’, a special programme to facilitate and accelerate local startups in obtaining recognition. Launched in May 2015, as part of the national strategic initiative to position Malaysia as the ‘Entrepreneur Hub’ for Southeast Asia.
MaGIC will be a key partner in promoting the programme and funneling potential startups for participation with the main goal is to make Malaysia as the Startup Capital of Asean.
The programme will not only assist local technopreneurs but also regional technopreneurs in setting up their startups here in Malaysia. This programme is designed for MSC Malaysia Startups Companies which are located outside of MSC Cyber City and Cyber Centres.
Among the benefit now available to startups under the programme are the flexibility to choose where to operate (no longer bound to reside in a designated Cyber City), hiring up to 20 foreign knowledge workers in key positions, 70 per cent tax exemption of statutory income for five years, and other MSC Malaysia Bill of Guarantees (BoGs) specified under the programme.
MSC Malaysia for Startups Programme will catalyze the Growth of ICT Industry through: Increase in the participation of ICT industry in MSC Malaysia’s community hiring talents would be easier due to flexibility of location, which will spur innovation Spurring growth of Digital Entrepreneurs & SMEs Productivity & quality of life will increase in parallel Multi-tiered incentives will spur growth of regional ICT companies.