KUALA LUMPUR: The Government believes that highlighting more successes in the creative content industry will help narrow the funding gap.
Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir said there are many Malaysian luminaries in creative content but the gap continues to exist.
He said it exists because financial institutions still don’t understand much about the creative content industry.
“It’s important for them to hear the success stories and see for themselves so they will understand how lucrative the industry is,” he said.
He was speaking at a press conference after launching the Creative Business Cup Malaysia (CBCM) 2012 contest, hosted by StartupMalaysia.org.
Mukhriz said that based on a study of the creative industry by the Multimedia Development Corp in 2008, the industry grows at a rate of 11.4% per annum. This means the lucrative industry will be worth RM16bil by next year.
Also, in the first half of last year, MSC Malaysia-status creative content companies recorded RM2.3bil in revenue. These were involved in animation, visual-effects, post-production work, and videogame creation.
“The success of our digital content industry is proof that Malaysians are creative and the country can participate in this lucrative global industry,” Mukhriz said.
CBCM 2012 is a national competition to identify a Malaysian creative content company that can best represent the country in the international final that will be held in the Danish capital Copenhagen in November.
It is also a platform for Malaysian companies to boost their confidence and to be more competitive.
StartupMalaysia.org founder, Dash Dhakshinamoorthy, said that by participating in the competition, local companies stand to gain more than just a prize. “They will have the opportunity to build networks with their peers, both locally and internationally, and to form smart partnerships to grow their businesses,” he explained.
Interested companies need to prepare a three-minute video pitch explaining their creative business venture and submit it via e-mail to email@example.com before Aug 30.
Finalists will be shortlisted for a live pitch in front of industry experts to win the opportunity to represent the country in Copenhagen.
More details on the competition can be found at www.facebook.com/creativebusinesscupmalaysia.