GEORGE TOWN – The Penang Youth Development Corporation (PYDC) wants to equip youth with the best technological skills they can acquire so they will remain in the state and help grow the digital economy together.
PYDC general manager Gwee Sai Ling said the corporation will look to partner with any entity that can help the youth pick up the desired level of skills for them to excel in the digital age.
Such soft skills are crucial towards helping Penang prepare for the digital age, she said.
To this end, PYDC together with Vincaps Capital and Big Domain have joined forces to organise an accelerator programme for online start-ups in Penang.
Gwee said that the six-month programme, which is open to all Malaysian youth, commences from April and ends in October this year.
Recruitment for participants starts from now until March 31.
She said there would be physical as well as online sessions for the participants and mentors.
“The objectives of this programme are to strengthen the start-up ecosystem, create more businesses within the Penang sphere, and attract talents and retain them in Penang. This programme will focus on three areas, namely money, mentor and market.
“The six-month course and guidance from mentors are priceless. So, I encourage them to grab this opportunity,” Gwee told reporters after the programme launch.
On the part of the participants, she said the most important requirement is their commitment.
The commitment fee for every project is RM250 for students and RM500 for non-students.
The organisers are limiting it to 20 projects, with one project having a maximum of five participants.
She said that there are four targeted industries for the start-ups namely e-commerce (sites with business from retail or solely e-commerce), Internet of Things (devices of any kind that can improve lives of humans), essential industries and technologies (not limited to tech but any essential businesses that have potential or even have plans to adopt the technology), and gaming and e-sports (e-sports management, e-sports and games merchandise sales companies).
State exco for youth and sports Soon Lip Chee said that this is a follow-up to their Youth Entrepreneurship Challenge that was initiated by the Penang government in 2020.
Soon says the Penang Start-up Accelerator Programme is a golden opportunity for start-ups, especially the youth to learn about the digital economy in Penang.
“Starting start-up companies is not easy. It requires a lot of business knowledge in marketing, finances, networking and much more, and most importantly, a lot of funding.
“With this accelerator programme, the start-ups that participate will be taught all the knowledge they need and given the chance to expand their networking.”
Those who wish to learn more can visit the Penang Startup Accelerator Program website. – The Vibes, February 23, 2022
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