The Malaysia Digital Economy Corporation (MDEC) proudly announces its latest global recognition, having been awarded the Startup Ecosystem Stars (SES) 2024 accolade in the “Exceptional Industry Support” category. This distinguished award, presented by USA-based Mind the Bridge (MTB) in collaboration with the International Chamber of Commerce (ICC), underscores MDEC’s pivotal role in driving innovation and strengthening Malaysia’s digital economy on the international stage. The prestigious award ceremony took place in Paris, France, showcasing Malaysia’s success in developing a robust, world-class startup ecosystem.
The SES 2024 Awards are among the most esteemed global accolades, celebrating organisations that play a transformative role in fostering dynamic startup ecosystems. Organised by MTB and ICC, the awards honour contributions to entrepreneurship, innovation, and digital transformation worldwide. MDEC’s victory highlights Malaysia’s growing competitiveness on the global stage, reaffirming its position as a digital economy leader.
The award was accepted on MDEC’s behalf by the Trade Commissioner of MATRADE Paris, reflecting the strong collaborative ties between MDEC and MATRADE. This partnership exemplifies MATRADE’s critical role in supporting Malaysia’s market expansion strategies, which are instrumental in advancing the nation’s digital economy. MATRADE’s involvement underscores the collective effort needed to establish Malaysia as a prominent player in the global digital landscape, while promoting international opportunities for Malaysian tech companies.
“This award from the Startup Ecosystem Stars 2024 is a milestone achievement for MDEC and Malaysia’s digital economy,” said Anuar Fariz Fadzil, CEO of MDEC. “It signifies our unwavering commitment to fostering innovation, entrepreneurship, and the growth of world-class tech companies. Being recognised alongside global leaders in digital transformation motivates us to further strengthen Malaysia’s standing on the international stage.”
The accolade also acknowledges MDEC’s Digital Exports’ GAIN (Gateway, Amplify, Invest, Nurture) programme, which has empowered Malaysian tech companies to expand their reach globally. Launched in 2017, GAIN has facilitated access to over 26 international markets, fostered partnerships with more than 1,000 local and global organisations, and connected Malaysian tech firms with over 100 investors and funding partners. To date, over 500 companies have benefited from GAIN, collectively generating USD 31.9 billion in revenue and USD 11.2 billion in exports.
Additionally, through the Malaysia Digital (MD) initiative, MDEC is transforming the digital landscape by offering strategic support to Malaysian tech companies. Between 2020 and 2023, MDEC’s Funding Facilitation programmes have enabled 262 companies to raise USD 402 million, demonstrating its effectiveness in securing crucial investments for the nation’s tech sector.
This award not only reinforces MDEC’s leadership in Malaysia’s digital economy but also solidifies the nation’s reputation as a leading digital hub in ASEAN. By continuously expanding its initiatives and fostering a thriving digital ecosystem, MDEC ensures Malaysian tech companies are well-equipped to succeed on a global scale.
