Asia Cybersecurity Exchange Aims To Grow Malaysia As Leading Cybersecurity Hub In the Region
Recognising the growth potential of the booming cybersecurity industry, Asia Cybersecurity Exchange (ASIACYBERX), a leading cybersecurity platform, is forging ahead with its plan to cultivate and nurture more local cybersecurity talent through a RM200 million Cybersecurity Accelerator Programme.
A first in Malaysia and the Southeast Asia region, the Accelerator Programme is part of ASIACYBERX’s long-term plan to create a broader pool of cybersecurity talent through developing young innovative start-ups into high-growth potential businesses, which in turn, will help boost Malaysia’s overall digital economy.
The Accelerator Programme emphasises active mentorship to help local start-ups and entrepreneurs throughout every step of their growth journey, from commercialisation of solutions and products, to fine tuning business models, to securing funding and networking opportunities within its existing network.
To date, a total of RM200 million has been allocated under the programme to help shortlisted start-ups scale their business to the next level.
Supported by several key government agencies, including Ministry of Communications and Multimedia, National Cyber Security Agency Malaysia (NACSA), Malaysian Multimedia and Communication Commission, Malaysia Digital Economy Corporation (MDEC) and Bank Negara Malaysia, ASIACYBERX was launched in April 2018 to strengthen the country’s growing cybersecurity ecosystem.
“This is an exciting time for the cybersecurity industry. In today’s digitised world, cybersecurity is no longer a technology need, but rather a key business enabler. Businesses are increasingly investing in security solutions and services to counter attacks and ensuring their data is secure. Through this programme, ASIACYBERX is happy to play an active role in expanding the local cybersecurity ecosystem by nurturing home-grown talent and competencies. Our mission is really to help them grow and reinvent the industry.”
LGMS Chief Executive Officer, Fong Choong Fook
According to the Ministry of Communication and Multimedia, Malaysia is one of the top three ASEAN countries to contribute 75% of the regional cyber security services market share by 2025.
While the Accelerator Programme is anchored on cybersecurity, Fong highlighted that the programme will not limit the selection process to pure cybersecurity players; instead it is open to start-ups in IT security, big data analytics, and cybersecurity-related solutions.
Commenting on the Accelerator Programme, ACE Group Chairman, Tan Sri Dato’ Ahmad Fuzi Haji Abdul Razak, said, “The cybersecurity industry offers phenomenal growth opportunities. But, for the local cybersecurity industry to continue to thrive, we need to build a competitive ecosystem. ACE Group is supporting promising start-ups to grow their ideas and scale their business to take up global cybersecurity challenges, from right here in Malaysia.”
Interested start-ups can find out more information about the Programme on their website or call 03-8601 4869.