SHAH ALAM, Malaysia, Jan. 20, 2022 /PRNewswire/ — Despite the importance of digitalising, many businesses and SMEs are still struggling to embrace the digital world due to lack of knowledge, skills and experience in pivoting away from traditional business models.
The Chief Minister of Selangor, Datuk Seri Amirudin Shari has recently witnessed the exchange of memorandum of association between Sidec and CTDK Holdings.
Aiming to lead Selangor’s digital transformation in becoming ASEAN’s digital hub, Selangor Information Technology & Digital Economy Corporation (Sidec), has been actively championing efforts to develop digital-native talents and provide support to businesses in recent years.
With 98.5% of business establishments in Malaysia being SMEs, they represent the backbone of the country’s economy. Out of all the states, Selangor has the highest number of SMEs, constituting 19.8% of the total.
A huge majority of these businesses continue to fall behind the digital race despite the advent of COVID-19. This is partly caused by low levels of awareness and knowledge about financing and technologies related to business digital transformation. A survey by SME Corp and Huawei shows that 60% of the total SMEs do not know about available financing options.
Between 2015 to 2020, Sidec has enlisted 650 companies onboard the Online 100 & Brands 100 programme, achieving RM650 million in gross merchandise value (GMV). Since 2018, the agency has nurtured a total of 120 startups through its Selangor Accelerator Programme.
Through the Selangor E-Bazar Campaign, some merchants were reported to have recorded a spike in sales ranging from RM2,000 to RM3,000 in a month, to RM12,000 to RM30,000, via e-vouchers. With only a total of RM7 million allocated for the initiative, the campaign successfully helped its merchants to hit RM144 million in direct sales.
Since April 2021, the Selangor State government, through Sidec, channelled RM5 million to 1,048 small and medium enterprises (SMEs) via the Selangor SME Digitalisation Matching Grant. By the end of October 2021, 1,048 SMEs have been able to digitalise their businesses, with many of them witnessing improved sales and being able to minimise operational costs.
Sidec continues to improve its programmes, including the Selangor Online 100 and Brands 100, E-Commerce Class and Masterclass as well as Selangor Accelerator Programme (SAP), just to name a few. An accelerator programme focusing on the fashion and gaming industries is also in the pipeline.
The upcoming Selangor Accelerator Programme will focus on financial technology and AI. The agency hopes to discover and cultivate more talents within these fields as Selangor strives to become a leading Smart State in Southeast Asia by 2025.
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