Establishing a strong foundation is crucial for the success of corporate innovation programmes and for fostering sustained engagement with the startup community.
The SC’s efforts in promoting corporate innovation, he added, align with the broader strategy to develop a comprehensive market-based financing spectrum for corporates and SMEs, supporting the objectives of the KL20 Action Plan. He added that while some companies that are already embracing this strategy have made progress in this area, there is a need to build a bridge for the majority that are just starting in the innovation journey, and those that have yet to obtain buy-in from their management and board to execute a CVC programme.
Awang Adek emphasised that by providing clarity on Malaysia’s VC and PE business environment, the SC aims to build a vibrant community of professional investors supporting local entrepreneurs.