PENANG, 23 MAY 2024 – Penang announced the establishment of the Penang Chip Design Academy, an initiative aimed at bolstering its Integrated Circuit (IC) Design and Digital sectors. This Academy is a key component of the Penang Science, Technology, Engineering, and Mathematics (STEM) Talent Blueprint, which is scheduled for launching in June 2024.

On 4 May 2024, the State revealed its plan to develop IC Design and Digital Park. With that, the Penang Chip Design Academy is established to support the plan, cementing Penang’s ambition as a preferred investment destination for design and digital businesses and entrepreneurs.

Headed by Penang Skills Development Centre (PSDC), in collaboration with key industry players, Electronic Design Automation (EDA) tool providers, academia, and InvestPenang, the Academy focuses on end-to-end design development and aims to develop talents for the IC Design ecosystem through upskilling and reskilling with academic training and hands-on experience. Plans are being finalised for opportunities for private-public funding mechanism.

In 2023, the global IC Design Service Market was valued at USD48.97 billion and is expected to reach USD84.16 billion by 2030, growing at a CAGR of 3.92%, according to Verified Market Report.

In the past five years (2019-2023), Penang has secured nearly RM 20 billion of approved services investments, representing 9% of the State’s total approved investments during this period.

Moving up the value curve and in the front-end semiconductor activities, the New Industrial Master Plan (NIMP) 2030 identified IC design as a potential growth sector and targets to create five globally competitive local IC design companies. Penang currently houses 18 out of 20 semiconductor IC Design companies in the country, including the three local IC Design champions, namely, SkyeChip, Oppstar Technology and Infinecs Systems.

With the substantial influx of investments into Penang, coupled with the growing demand in IC Design and Digital sectors, talent is increasingly recognised as one of the key differentiators in attracting investments, as businesses prioritise regions with highly skilled and adaptable workforce. Hence, the ultimate objective for the Academy is to prepare individuals to become industry-ready IC Design Engineers, underscoring the State’s dedication to moving up the value chain and poised to unlock new opportunities for growth and prosperity in this digital era.

Penang Chip Design Academy establishment was announced by YAB Chow Kon Yeow, Chief Minister of Penang during the inaugural Penang Career Discovery Day 2024 event today. The event attracted over 500 participants, including players in the GBS and IC Design fields, STEMA students from USM, UniMAP, UiTM, UUM and UOW KDU, and government agencies.

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About InvestPenang
InvestPenang is the Penang State Government’s principal agency for the promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention), and Global Business Services (GBS) Focus Group (promoting and developing digital economy). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn.

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