In its latest efforts to get more businesses to move onto the digital realm, Malaysia Digital Economy Corporation (MDEC) has signed a Memorandum of Understanding (MoU) with the Entrepreneurs’ Organization Malaysia Chapter (EO Malaysia Chapter).
This is an extension of other collaborations and partnerships that the innovation regulator has put together with like-minded parties.
The MoU signified both parties’ commitment in reaching out to as many businesses as possible, and encourage them to make the jump to digital. This is the primary manner in which companies can future-proof themselves.
“Right now, disruptive market forces have allowed competitors that are faster, more nimble, and can deliver better customer experiences to rock the boat. This requires businesses to respond quickly. Thankfully, organisations at the front-end of the curve are now assessing their business models and data differently as they look to collaborate across functional lines to increase efficiencies, cut costs, and improve the end-to-end customer experience. While this is on-going, more must be done to implement these solutions. This is one of the main reasons MDEC is in the midst of its big push for digital adoption,” said Dato’ Ng Wan Peng, Chief Operating Officer, MDEC.
When companies take that next step to go digital, they will naturally consider taking up the best-of-breed for services and platforms for deployment. In doing so, the ability to unlock value from the digital economy will ramp up.
“This ideal scenario is far from being fully exploited. If anything, this is the best time for businesses of all sizes and types to sprint to top as they push for true innovation and look at getting onboard with Industry 4.0,” Dato’ Ng Wan Peng added.
In the case of EO Malaysia Chapter, the collaboration is also one of its latest efforts to expand a community of digitally enabled and tech savvy business leaders. By partnering with MDEC, this corporate business group will gain access to the necessary support it needs to enhance its support capabilities to its members. This includes empowering digital adoption initiatives such as the Digital Discovery program, awareness events, Innovation Pulse and Executive Summit, Corporate Immersion programmes, and even improving market and trend research work.
“Undoubtedly, there are multiple layers of synergies between EO Malaysia Chapter and MDEC that can be harnessed to help Malaysian companies enhance their competitiveness. What we are signing today also reflects the EO mission charter and further reinforces our goal to engage leading entrepreneurs and enable them to learn and grow,” said Mark Chua, President of EO Malaysia Chapter.
With this partnership, Mark Chua is looking to boost the digital capabilities of, at least, 30 member organisations in two years. Given that MDEC has various innovation and enhancement programmes that can be applied across industries, matched with what EO Malaysia Chapter is offering, the target is doable though both are hopeful to exceed estimations.
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