BREAKING into overseas markets is considered a big achievement for local companies, including those from the information and communications technology (ICT) industry. It reflects global recognition for the company’s brand and operational methods.

So far, there are only a handful of local ICT players that have found success on foreign shores, either by establishing a presence in the foreign market or selling products and services while remaining stateside. Either way, the challenges are plenty.

Apart from having a good brand to sell, hurdles that need to be cleared include stiff competition, especially from globally renowned brands; adapting to different regulations and work culture; and finding reliable partners in the particular market.

Nevertheless, local players should not feel discouraged. The handful of local outfits that have made it shows that nothing is impossible if one is committed and focused.

Critical success factors include having a strong brand, identifying potential growth markets, and having a good team. For these, one has to invest in product development, market research and top talent.

The good news is, entities such as Multimedia Development Corporation, Mimos, Cradle Investment Programme, the Association of the Computer and Multimedia Industry Malaysia and Malaysia Venture Capital Management are committed to nurture local ICT companies into global players. This entails providing assistance in terms of product development, funding, identifying potential markets and commercialisation.

So, it is up to local players to decide whether they are content with being a mere player on home soil, or to look abroad where growth potential is high. Besides, the success of more local players on foreign soil will prove that Malaysians can excel in whatever they have put their minds to, in true Malaysia Boleh spirit.