Following Malaysian Prime Minister, Tan Sri Muhyiddin Yassin’s declaration that the entire country will be on a movement control order starting from 1st June to 14th June 2021, to deal with the rise in Covid-19 cases, InvestPenang would like to inform that:
• InvestPenang office will be closed from 1st June to 14th June 2020. Operation will resume on 15th June, unless there are further directives from the government
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WHAT’S HAPPENING

View major news and upcoming events to explore Penang’s thriving key industries.

GEORGE TOWN: Penang has pledged US$1 million (RM3.9 million) in seed capital for the state to meet its potential as a hardware hub for tech start-ups throughout the region.

Noting that Penang is on its way to cementing its status as the “Silicon Valley of the East,” Chief Minister Lim Guan Eng said the start-up fund was formed so the state can retain its talents to build and attract the best minds to grow the hardware hub.

“We also seek a convergence in the public, manufacturing and services sector for our hardware hub,” Lim told a press conference.

Later, one of the start-ups which has begun to make an impression on the global hardware scene is Cytron Technologies Sdn Bhd, which according to chief executive officer Tan Eng Tong, now has 100 products in their catalog and are distributing their robots to over 20 countries.

Tan demonstrated how a tiny robot can speak and handle basic human interactions.

Besides Cytron, the other start-ups were Vitrox, Aemulus (both of which are now publicly listed entities), Exabytes and Piktochart.

They are all based in Penang, and have the potential to grow their business modules.

To this, Lim said that the seed fund, which will be coordinated by Invest Penang Sdn Bhd, will help the state enlarge its pool of tech entrepreneurs.

Penang was also recently featured in a BBC documentary as a global hardware hub with many of its local engineers having exited from multinational tech corporations to form their own start-ups in these new fields.

Source: The Sun Daily

https://www.thesundaily.my/news/2018/01/25/penang-pledges-us1-million-boost-local-tech-start-ups