S’wak govt engaging international entities to assist local start-ups

Sarawak government has been creating a conducive environment for local start-ups.

KUCHING, Dec 2: There is a huge potential in the growth of start-ups in Sarawak through the collaboration of the Ministry of Trade and Industry, Industry Terminal and Entrepreneur Development, the Sarawak Multimedia Authority (SMA) and the Sarawak Digital Economy Corporation (SDEC).

The Sarawak government said it has been partnering with international corporations including Huawei, General Electric, Keysight Technologies, Honeywell, IBM, Fusionex as well as world-class institutions of higher learning such as the National University of Singapore and University of Malaya.

“The state brings these entities in to infuse the local start-ups and talents with the wealth of technical and business experience of the international corporations and research institutes,” the state government highlighted in its reply to a question raised by startup community developer Malcolm Wu during the “Sunday with CM: Dialogue Session with Young Entrepreneurs in Sarawak” programme held on Sept 28 this year.

Due to the constraints of time which caused many questions to be left unanswered, DayakDaily forwarded the questions after the dialogue to the relevant authorities which came back with the answers recently.

Currently, the state government will let corporations invest in local start-ups and talents based on potential for Return on Investment (RoI) and calculated risks by the corporations.

“Moving forward, some form of incentive could be considered for the corporations to help the start-ups,” it added.

The statement explained that once the starts-ups are scaling and expanding their teams, it would also mean that they would create more job opportunities for locals.

“The start-ups will be measured, including on the extent of their economic value and revenue that they bring to the state and the quality of jobs they create,” it added. — DayakDaily