SME Corporation Malaysia (SME Corp Malaysia) and the Malaysian branch of a Chinese multinational technology have exchanged a Memorandum of Collaboration (MoC) on the SME Adopt and Innovate (SME AI) programme, aimed to drive SMEs further into digitalisation.
The MoC exchange was witnessed by the Minister of Entrepreneur Development and Cooperatives. The exchange took place during the launch of ‘SMEs Go Global’ and ‘SME Co-Investment Partners’ programmes at SME Corp Malaysia headquarters.
The exchange of the MoC was done by the CEO of SME Corp Malaysia while the tech firm was represented by the CEO of its Malaysia branch.
Through this collaboration, SME Corp Malaysia and the tech firm have jointly developed the SME AI programme, which is aimed to drive SMEs further into digitalisation by leveraging on the firm’s digital expertise for a more sustainable growth.
In turn, the initiative supports SME Corp Malaysia’s agenda to facilitate faster rollout of ICT adoption in Malaysia.
To be truly digitalised, SMEs must re-think and re-design their businesses by ensuring that their strategies, processes, and infrastructure are aligned and fully integrated to support their digital transformation.
The tech firm has been actively supporting the vision of digitalisation, and with SME Corp Malaysia the firm intends to continue collaborating for the benefit of local entrepreneurs and SMEs.
In its role, the firm will provide subject matter expertise, digital solutions and technical support for businesses to incorporate innovative digital solutions using its open platform and AI Cloud technology.
Meanwhile, SME Corp Malaysia is confident that the cloud and AI tech of the firm, coupled with 5G technology will enable SME growth in the digital sphere and towards realising Digital Malaysia.
In this collaboration, both parties will work closely to develop impactful programmes to facilitate SME adoption and innovation in digitalisation initiatives.
Bridging programmes in addition to a ‘Training-of-Trainers’ programme will be implemented to nurture and groom subject matter experts for advisory roles in digital adoption and innovation for SMEs.
The latter programme will enable business advisors of SME Corp Malaysia and agencies under the Ministry of Entrepreneur Development and Cooperatives to use the tech firm’s solutions, particularly cloud and AI, to enable digitalisation among SMEs.
The collaboration will engage with local digital innovation by using the tech firm’s Cloud and AI tech to assist SMEs to create their innovative product. In addition, the programme provides a matching grant together with the firm’s solutions for SMEs to use it in their business under the adoption program.
The tech firm will also help to promote and bundle SME digital solutions from the program to the telco.
Accompanying the Minister at the exchange session were Ministry of Entrepreneur Development and Cooperatives Secretary-General and the Chairman of the SME Corp Malaysia.
Also present at the ceremony were other high-level government officials and leaders of the tech firm.
In 2017, the two parties had signed a Memorandum of Understanding, and both teams have continued their efforts to pave the development journey of Malaysian SMEs.
Since then some of their initiatives include building an incubation laboratory program that promotes innovation, workshops on digitalisation, Talent Program to enhance skills on digital competency amongst others.