PETALING JAYA: The Malaysia Digital Economy Corporation (MDEC) today announced WORQ as a new Malaysia Digital Hub, one of MDEC’s initiatives to grow the nation's digital economy and produce successful startups.
This means that local startups based in the newly established WORQ Coworking Space – located in Glo Damansara Shopping Mall – will be able to enjoy access to funding, coaching and mentorship, corporate tax exemptions and high speed broadband.
The Malaysia Digital Hub status is given by MDEC to coworking spaces that have fulfilled certain criteria, such as organising talent development programmes and providing high speed broadband and fibre optic connectivity.
Besides WORQ, there are currently three other coworking spaces under the programme, namely APW, The Co., and Common Ground, all in the Klang Valley.
According to WORQ co-founder and CEO Stephanie Ping, around 70 startups are currently housed under its roof including payment gateway provider Billplz, crowdfunding platform pitchIN and business analytics startup Infoscape.
Cloud startup contest
WORQ also played host to the Create @ Alibaba Cloud Startup Contest 2017, a regional competition held for the first time in Malaysia.
A total of 15 startups from across Asia took part in the idea pitching contest which required each startup to display the best solution through the use of cloud technology.
“This is our third Create @ Alibaba Cloud Startup Contest. It is now a platform for tech startups to showcase their ideas and receive support to turn their ideas into reality,” said Raymond Ma, general manager of Alibaba Cloud for ANZ and Asean.
Alibaba Cloud has also signed on as the partner for WORQ, where it will offer training and professional certification for its suite of cloud services. Malaysian data analytics startup CXS Analytics won the top prize, taking home US$50,000 (RM214,480).
OCEO Water from Singapore, which lowers the cost of ownership and access to clean water, took home the second prize while another Malaysian data analytics startup SelfDrvn came in third.
Both won US$10,000 (RM42,900) each. CXS Analytics and OCEO Water will be representing their respective countries in the upcoming Create@Alibaba Cloud Startup Contest World Championship in Shanghai.
Both winners will compete with startups from 12 other markets and regions in the global final which will be held in October this year.