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Innovation Twin Cities
Innovation Twin Cities
A program that promotes strong collaboration and integration within Malaysia and other major economies' startup and technology ecosystems via a twin city approach. These partnerships enable each market to serve as a gateway to its respective region, expanding opportunities for all ecosystem players: (i) Facilitating seamless cross-market operations for startups to expand their Total Addressable Market (TAM). (ii) Simplifying sourcing and investment avenues for investors across the region. (iii) Enhancing talent mobility across regions, leveraging a wider array of opportunities. Areas of collaboration include: (i) First wave collaborations (1-2 year timeframe), which cover dual business registration, dual visas, express immigration, and increased connectivity (ii) Additional collaborations (multi-year timeframe), which cover joint startup data repositories, free movement of goods and services, free movement of data across borders, and stock exchange connection Requirements: Ideal partners are countries with strong political and cultural ties to Malaysia, and possess either large domestic economies or access to large regional economies. Example regions to explore include: (i) GCC: Islamic region with ambitious innovation plans and cultural ties with Malaysia (ii) East Asia: Large, developed domestic markets with strong geopolitical ties to Malaysia (iii) Southeast Asia: Geographically close countries with a strong history of cooperation #All #Mid-late stage
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KL Innovation Belt
KL Innovation Belt
A program establishing vibrant innovation hubs that unite startups, investors, academia, and corporates around a central startup hub and key sectors: (i) Energy & Greentech, focusing on clean, renewable, and alternative energy technology innovation and commercialization, located in Bangsar South. (ii) Manufacturing & Automation, centered on automation and Fourth Industrial Revolution (IR4.0) technologies, situated in MRANTI Park to leverage its IR4.0-ready infrastructure. (iii) Agriculture, targeting technologies benefiting the agriculture industry, ideally positioned in land-rich areas like Bangi near Universiti Kebangsaan Malaysia (UKM), outside the KL city center. (iv) Islamic Financial Services, catering to FinTech startups with a focus on Islamic finance, strategically located in KL’s Jalan Dato’ Onn area near BNM, MIFC, and the Islamic Financial Services Board (IFSB). Requirements: Requirements apply solely to the physical space, tailored to the unique needs of each hub and co-created with pioneer participants. At minimum, the space must fulfill the following criteria: (i) Adequate office space for a minimum of 20 companies (scalable to 100 companies). (ii) Sufficient public space for food and beverage (F&B) outlets, events, etc. (iii) High-speed Internet connections of at least 100 Mbps, with additional specifications such as 5G for IR4.0 applications. (iv) High accessibility from the Klang Valley, with close proximity to public transport stations or major highway access points. #All #AllStages
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Innovation Passport
Innovation Passport
A programme establishing a comprehensive visa scheme, providing incentives for founders, tech talent, and VC professionals to relocate to Malaysia and enrich its startup ecosystem. (i) Founders aiming to establish or expand businesses in Malaysia, requiring time, expertise, and resources to lead startup initiatives. This builds on the existing Malaysia Tech Entrepreneur Programme (MTEP) and is capped at 100 founders annually for high-potential startup and tech founders. (ii) Senior Management, including C-suite executives or individuals at Head of Department level, offering a special version of the Residence Pass Talent (RP-T) visa for 200 candidates annually with deep startup and technology experience, crucial for scaling startups and VCs. (iii) Highly-Skilled Talent, comprising experienced professionals with sought-after expertise, such as in AI or specialised programming. This builds on Malaysia’s Employment Pass Category 1 visa and is capped at 1,600 expats annually with in-demand skillsets. The updated visa provides a longer grace period to recipients who will contribute specialised skills like AI engineering, bioscience, and investment analysis to startups and VC funds. (iv) General Talent, including individuals with offers from Malaysian digital companies and those working in VC firms, offering a special version of Malaysia’s Employment Pass Category 2. Capped at 2,400 expats annually working in general tech and VC companies. The new version of the visa allows recipients a longer grace period of 90 days in the event of job loss, responsible for the day-to-day operations of startups. Requirements: 1. Founders Visa (in addition to MTEP requirements): (i) Clear business plan and execution timeline ready for startup OR (ii) Secured at least US$100K41 in funding from a recognised VC OR (iii) Invitation from a local incubator, accelerator, or MRANTI 2. Senior Management Visa (in addition to RP-T requirements): (i) Minimum 7 years of work experience in management or leadership roles in •established tech companies or VCs, OR •startups with valuation of at least USD500M or raised at east USD30 M, OR •managed/developed an application with at least 100K users 3. Highly-Skilled Talent Visa (in addition to Employment Pass Category 1 requirements): (i) Visa application submitted by a Malaysia Digital-status company (ii) Minimum 3 years work experience in roles that fall under the Malaysia Critical Occupations List 4. General Talent Visa (i) Visa application submitted by a Malaysia Digital-status company (ii) Minimum total annual compensation of RM60k (including bonus, ESOP etc.) #All #AllStages
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