Attracting Investors from Both Countries to Expand Opportunities in ICT Industry
Jakarta, June 6, 2016 – Kejora, Indonesia’s leading company-building venture capital firm, announces its strategic partnership with Malaysia Digital Economy Corporation (MDEC), the Malaysian government agency responsible for developing the national information and communications technology (ICT) industry. The collaboration was formally signed to facilitate business expansion opportunities for a mutually beneficial and synergistic relationship between companies under the portfolio of each party.
“MDEC is committed to developing, coordinating, and promoting Malaysia’s digital economy and ICT industry, as well as the extensive use of ICT in Malaysia. This partnership enables us to share our knowledge while at the same time deriving Indonesia’s own and unique insights – connecting MDEC’s expertise in digital policy and investment reach, with KEJORA’s market leadership,” said MDEC CEO Dato’ Yasmin Mahmood.
She explained that MDEC will provide KEJORA and its affiliated companies access to potential Malaysian clients and venture capital network; a soft landing platform in Malaysia; and support over insights on financial resources, strategic partners, and business models refinement. In return, KEJORA will provide similar support for MDEC in Indonesia.
Founding partner of KEJORA Andy Zain said: “This is an opportunity for both parties to learn from each other. We are delighted with the partnership, as it allows us to continue building and investing in technology start-ups – creating a tech eco-system of venture builders, investors, incubators, event space, and co-working space. We look forward to further contributing in the national’s digital roadmap.”
Capital Needs for Start-Ups
Indonesia’s e-commerce sector has seen remarkable growth over the years, yet the protracted capital problems are still identical. According to the Investment Coordinating Board (BKPM), investment realization in the e-commerce industry has dropped significantly for the past two years. The Indonesian government swiftly responded by issuing Presidential Decree No. 44/2016 on the Negative Investment List to attract more Foreign Direct Investments (FDI) in the sector.
Both Kejora and MDEC hope this agreement will expedite the development of start-ups in Indonesia.
Kejora invests in entrepreneurs and help them launch technology companies in large and high growth market verticals. Through growth capital, shared infrastructure and resources, access to the right network of strategic partners and investors, Kejora enables young startups to grow in rapid pace to win leading market positions in each tech vertical in the region.
We are stage agnostic and we focus in opportunities in Southeast Asia.
Kejora maximizes value-creation for investors by leveraging high-growth economies and demographic bonus. We work with highly skilled entrepreneurs to build winning technology companies with high and sustainable growth.
For more information, please visit: www.kejorahq.com
About Malaysia Digital Economy Corporation (MDEC)
The Malaysia Digital Economy Corporation, formerly known as Multimedia Development Corporation (MDEC) was incorporated in 1996 to strategically advise the Malaysian Government on legislation, policies and standards for ICT and multimedia operations as well as to oversee the development of the Malaysian Multimedia Super Corridor (now MSC Malaysia), the platform to nurture the growth of Malaysian Small and Medium Enterprises (SMEs) in the IT industry whilst attracting participation from global ICT companies to invest in and develop cutting edge digital and creative solutions in Malaysia.In 2011, MDEC’s mandate was broadened by the Prime Minister to include driving Malaysia’s transition towards a developed digital economy through Digital Malaysia. In 2012, Digital Malaysia was official unveiled as the nation’s transformational program to achieve this aim. Digital Malaysia is a vision of a fully developed sustainable digital economy built upon a vibrant domestic ICT industry, transformative use of digital solutions by government, businesses and citizens, as well as a robust enabling ecosystem.
Today, both MSC Malaysia and Digital Malaysia run concurrently to spur Malaysia’s ICT industry development and digital transformation, under the purview of MDEC.
For more information, please visit: www.mdec.my