The Malaysia Digital Economy Corporation (MDEC), through its United States affiliate MDeC Americas Inc., and the San Jose Silicon Valley Chamber of Commerce today announced a partnership involving the SJSV Chamber’s regional development program silicon valley IDEA(Initiative to Drive Economic Advancement).
“Silicon Valley has long been the world’s leading digital innovation ecosystem, and therefore one that Malaysia, with its far-reaching strategic objective to become one of the world’s leading digitally-driven economies, must be a part of,” said Yasmin Mahmood, MDEC CEO. “Our relationship with the San Jose Silicon Valley Chamber of Commerce and partnership in silicon valley IDEA builds upon the establishment of the MDeC Americas Silicon Valley presence in 2015 and the many valuable programs and collaborations already underway. Deepening our involvement in this dynamic region will accelerate the success of innovative Malaysian and ASEAN tech companies as well as the achievement of a key national objective.”
MDeC Americas President Dan E. Khoo and SJSV Chamber President and CEO Matthew Mahood signed the agreement today at the MDeC Americas offices in Palo Alto. Dignitaries present at the signing included MDEC Chairman Tan Sidek Hassan and MDEC CEO Yasmin Mahmood, and Santa Clara County Board of Supervisors President David Cortese and SJSV Chamber Vice Chair of Economic Advancement Cosmo Fagundo.
“For our region to remain the center of innovation, we must collaborate with others, across industries, across jurisdictions—both regionally as well as globally,” said Dave Cortese, Santa Clara County Board of Supervisors President. “This partnership with MDec Americas, MDEC and the SJSV Chamber is the type of unified effort that will offer our region a better chance at success.”
The strategic objectives of the partnership are to grow the bi-directional flow of talent, capital, ideas and innovation between the two regions relating to the digital economy, information and communications technology, leveraging silicon valley IDEA as well as the broader development and collaboration platforms afforded by the SJSV Chamber, MDeC Americas and MDEC.
“Silicon Valley’s unique ecosystem brings together the best and brightest entrepreneurs, innovators and technical talent from all around the globe,” said Matthew Mahood, SJSV Chamber President & CEO. “While we occupy a distinct region within Northern California, we truly are a global community tied together by a common yearning to innovate. We welcome MDEC and the Malaysian entrepreneurs and innovators it represents as members of the Silicon Valley community, and look forward to their unique infusion of ideas, collaborations and business opportunities into our regional economy.”
Anticipated outcomes include growing the trade of digital products and services between Silicon Valley and Malaysia, expanding the use of Malaysia as Silicon Valley’s strategic gateway to the multinational ASEAN region, and connecting Malaysian and ASEAN region entrepreneurs and companies to Silicon Valley financial, intellectual and relational capital.
The SJSV Chamber’s regional economic development program — silicon valley IDEA — reflects the innovative thinking of the Silicon Valley region to advance the SJSV Chamber’s economic development goals of sustaining an environment where businesses can thrive, regardless of industry or size, and improving the quality of life for the people that live in its municipalities.
About Malaysia Digital Economy Corporation (MDEC) and MDeC Americas
MDeC Americas, Inc., based in Palo Alto, California, is the entity under the Malaysia Digital Economy Corporation Sdn. Bhd. or MDEC, tasked with spearheading MDEC’s presence in the Americas. An agency under the Ministry of Communications and Multimedia Malaysia, MDEC has been entrusted to develop, coordinate, and promote Malaysia’s digital economy, information and communications technology (ICT) industry, and the adoption of digital technology amongst Malaysians. Incorporated on 5th June 1996, MDEC was officially established to strategically advise the Malaysian Government on legislation, policies and standards for ICT and multimedia operations. Additionally, MDEC is also entrusted to oversee the development and nurture the growth of local tech companies whilst attracting foreign direct investments (FDIs) and domestic direct investments (DDIs) from global multinational companies to invest and develop cutting-edge digital and creative solutions in Malaysia. In 2011, MDEC’s mandate was broadened to drive Malaysia’s transition towards a developed digital economy, built upon a vibrant domestic tech industry, transformative adoption of digital solutions by government, businesses and citizens, as well as a robust enabling ecosystem.