The Malaysia Digital Economy Corporation (MDEC) wrapped up its inaugural SME Digital Summit with resounding success. Held between 11-13 August 2020, the event garnered a record-breaking one million digital participations who joined various curated digital panel discussions, conferences, workshops, and training clinics. Most of these talks were organised in collaboration with over 60 event partners, comprising local businesses, multinational companies, digital solution providers, industry leaders, as well as public- and private-sector agencies.
“For MDEC, the next step is to sustain the momentum generated by the SME Digital Summit. The DX platform that we have launched is critical to this effort. In fact, we continue to call on Malaysian small- and medium-sized enterprises (SMEs) to accelerate and scale-up their digital transformation journey by registering with the Digital Xccelerator (DX) platform,” added Surina.
The DX platform is a new free-of-charge initiative that was launched during the Summit. It is designed to help SMEs gain access to available programmes, incentives and technology solutions that best match their specific digitalisation needs. SMEs are urged to register at www.dx.com.my and take the #digitalleap to ensure they can sustain their operations and expand further soon after.
Another highlight of the Summit was the signing of a Memorandum of Understanding (MoU) between MDEC and the Malaysia Productivity Corporation (MPC), which is aimed to further boost the digitalisation movement for Malaysian businesses via initiatives such as the Digital Victory Virtual Business Clinic (DVVBC).
MDEC also conducted an online poll throughout the Summit to find out and better understand
where Malaysia’s SMEs are currently with their digital transformation. The key findings of this
• While 54 percent of the survey respondents already started their digital journey, 18 percent have not
• Nearly 60 percent intend to focus digitalisation on front-end operations, followed by back-end operations and adopting advanced technologies, both of which are rated at 17 percent each
• The top hindrances for digital adoption that SMEs face are the lack of knowledge and skills (32 percent), the investment required for digitalisation (30 percent) and the cash flow required for SMEs to sustain their transformation (17 percent)
• To enable digital transformation, 32 percent of respondents stated they would like to receive eligible funding and incentives –followed by training for upskilling and reskilling (29 percent) and relevant digital transformation programmes (28 percent)
“The poll results show that while more than half of our SMEs have embarked on their digital
journeys, many continue to face challenges. We recognise this and are committed to
supporting them to overcome their challenges so they can gain the means to tap into the
US$100 billion opportunity that ASEAN’s digital economy is set to offer1
More importantly, they will be better prepared for any unforeseen economic disruptions,” shared Muhundhan. The Summit – the first digital conference of its kind in Malaysia – was organised as a virtual platform to help empower Malaysia’s SMEs to take the digital leap by cultivating an innovative and transformative mindset that can help them accelerate their digitalisation journey.
In total, the week-long event featured 12 panel sessions, all of which focused on 10 areas of digitalisation and how they can be applied across 10 key business sectors. Additionally, there were 16 satellite events that MDEC’s event partners put together to run alongside The Summit.