KUALA LUMPUR: Cradle Fund Sdn Bhd and Microsoft Malaysia will collaborate in empowering startups in Malaysia to scale innovative results at a global level.
The collaboration through the signing of a memorandum of understanding (MoU) between Cradle, an agency under the Ministry of Science, Technology and Innovation (MOSTI), and Microsoft will provide access to upskilling opportunities and technical guidance for startups to improve capabilities.
Besides that, the MoU will also provide startups with access to the Microsoft Mentor Network along with free access to GitHub Enterprise and productivity boosts with Microsoft 365 and Azure cloud credits of up to US$150,000 (US$1=RM4.45) to build their products.
Minister of Science, Technology and Innovation Datuk Seri Dr Adham Baba, who witnessed the signing, said the collaboration would be a catalyst for more active growth and development for startups in Malaysia.
"The collaboration between Cradle and Microsoft is not only to provide access to digital technology for entrepreneurs but also to ensure economic resilience, digital skills and knowledge can be mastered and further provide a trusted and secure digital environment for businesses to thrive," he said at the MoU signing ceremony here today.
He said MOSTI is committed to provide support to more than 5,000 start-up companies with the target of five of them achieving "unicorn" status by 2025 and at the same time, increasing the number of "coders" to 10,000 people by 2030.
Besides that, he said the MoU between Cradle and Microsoft involved physical and digital branding from both parties, data sharing in developing appropriate programmes for startups and access to appropriate tools or software for the technology development of a startup.
"Startups should also take advantage of the expertise and knowledge available at large companies such as Microsoft to explore international markets," he said.
He said this is in line with the government's desire to empower the technology ecosystem in Malaysia, in addition to being a leading startup ecosystem by 2030 and further achieving inclusive, responsible and sustainable socio-economic development.
Meanwhile, Microsoft Malaysia managing director K Raman said the company would highlight the Microsoft platform for the Startup Founder Hub in Malaysia as part of the collaboration between Cradle and MOSTI.