KUALA LUMPUR: George Kent (M) Bhd has signed a memorandum of understanding (MoU) with the Malaysia Digital Economy Corp (MDEC) to promote the growth of the tech ecosystem.
“Under the terms of the MoU, both parties will jointly promote initiatives that will benefit and drive growth of the tech ecosystem in the country.
“This collaboration between George Kent and MDEC is a mutually beneficial public-private partnership that enables the government to accelerate the growth of the country’s tech ecosystem while at the same time assisting private sector businesses like George Kent to access new growth opportunities,” the engineering company said in a statement yesterday.
George Kent will set up an investment arm to provide the necessary funding and resources including financial, expertise, mentorship and market access opportunities for local and regional tech companies.
MDEC will source deals for George Kent including facilitating the introduction of venture capital and investors to the latter for co-investment opportunities. It will also provide assistance in the form of valuation, mentoring and market access opportunities to the investee companies.
George Kent chairman Tan Sri Tan Kay Hock said MDEC and George Kent share common goals to promote and facilitate digital transformation, talent nurturing and the development of the digital technology industry.