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The inaugural event brought together IC design companies, multinational corporations, and global investors to drive funding, business opportunities, and strategic collaborations. It also marked the launch of the InnoChamps with PSD@5km+, reinforcing Penang’s role in advancing Malaysia further upstream in the semiconductor value chain.

PENANG, 27 AUGUST 2025 – Penang marked a milestone today with the curated launch of Lift-Off with PSD@5KM+, an exclusive event connecting 12 Penang-based IC design companies with 6 Venture Capital (VC) and Private Equity (PE) firms, 3 government agencies/government linked investment companies (GLICs) and over 30 multinational corporations (MNCs) to unlock funding, business opportunities, and strategic collaborations.

Organised under the Penang Silicon Design @5KM+ (PSD@5KM+) initiative, the event provides a first-of-its-kind business matching platform aimed at connecting Penang’s IC design startups with global investors and strategic partners. The programme aims to give startups direct connection to potential investors and partners, accelerating their path to funding, unlock market access, and explore global expansion.

The participating IC design companies — Experior Technology, Filpal, Hanic, IC Carrier Technologies, Infinecs Systems, Oppstar, Silicon X, SkyeChip, Sophic Automation, Tenasic Technology, Tessolve Semiconductor and Walcomtech— represent Penang’s rising strength in IC design, with solutions ranging from advanced chip architecture to specialised design services.

The event was also joined by VC and PE firms including, Gobi Partners, Granite Asia, Qualgro Partners, Star Capital, Strategic Year and 500 Global; GLICs namely Khazanah and Malaysia Technology Development Corporation as well as global MNCs exploring collaborative opportunities. 11 PSD@5km+ technology collaborators also showcased their latest innovations, underscoring the growing depth of Penang’s semiconductor ecosystem. Alongside, MDEC was also present at the event to share about their funding facilitation support to the startups.

Adding to today’s milestone, a new sub-pillar under the Silicon Research & Incubation @GBS Techspace – the “InnoChamps” with PSD@5KM+ was announced.  This programme will connect IC design startup leaders with successful leaders and technopreneurs to catalyse innovation, unlock new markets, and scale both business and technology capabilities.

The Right Honourable Chief Minister of Penang, Mr. Chow Kon Yeow stated, “It is encouraging to witness our companies scaling right here in Penang—reinforcing that Penang is truly a state to thrive and grow.” He then added, “To realise the vision to produce the first generation of “Made by Malaysia” chip – designed, developed and driven from Penang, the “InnoChamps” with PSD@5KM+ gives startups access to experienced mentors and well-connected industry figures, providing the strategic technology roadmap and networks needed to fast-track their growth and competitiveness.”

Since its launch in December 2024, the PSD@5KM+ initiative has achieved key milestones — from building hybrid engineering and lab campuses at GBS By The Sea and GBS TechSpace, to attracting world-class design houses like AMD and Monolithic Power Systems, Inc. The initiative also rolled out the Penang Silicon Research & Incubation Space housing local startups preparing product IPs, launched the Penang Chip Design Academy which has already trained 30 engineering graduates with over 90% job placements since its inception in June 2025, and forged technology collaborations that strengthen Penang’s role in the global semiconductor supply chain. Together, these efforts reinforce the shared commitment to nurture the next generation of “Made by Malaysia” chips — designed, developed, and driven from Penang.

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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 realise 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) and Penang Silicon Design @5km+ (establishing a unique and interconnected ecosystem for IC design and technology enterprises). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook; LinkedIn; WhatsApp Channel and TikTok.

About “Penang Silicon Design @5km+” Initiative
The “Penang Silicon Design @5km+” initiative was launched by Penang State Government, through its lead agency, InvestPenang. Aligning with National Semiconductor Strategy, this initiative is a transformative collaboration between government, academia and industry, aims to drive innovation, accelerate the AI revolution and position Malaysia as a leading global force to provide a complete and end-to-end solution. The “Penang Silicon Design @5km+” initiative consists of three key components: (1) Penang IC Design & Digital Park @Bayan Lepas; (2) Penang Chip Design Academy @PSDC; and (3) Silicon Research & Incubation Space @GBS TechSpace. For more information, please visit https://investpenang.gov.my/.

For media enquiries, please contact:

InvestPenang
Elaine Cheah / Arief Ferdaus
elaine@investpenang.gov.my / arief@investpenang.gov.my
T: +604-646 8833

“Penang Silicon Design @5km+” Initiative
Tun Qurratul Ain / Ong Mee Choo
ain@investpenang.gov.my / meechoo@investpenang.gov.my
T: +604-646 8833