Alibaba Cloud Intelligence Malaysia general manager Kun Huang said the contest would serve as a platform to advocate digital transformation and technology innovation.
"The contest provides participants with access to ready-funders and investors for their projects, Alibaba's wide range of business ecosystems and resources, as well as benefit from the best digital business practices of Alibaba Group.
"Tech start-ups can unleash their potential via a network of investor ecosystems. Being a global ecosystem builder, we are excited to nurture bright, up-and-coming local talents through this contest," he said during the ceremony held at Asia Pacific University of Technology and Innovation.
Malaysia Digital Economy Corporation (MDEC) chief executive officer Mahadhir Aziz said CACSC was aligned with the efforts made by the government and MDEC to foster a thriving digital start-up ecosystem.
"Start-ups have the potential of shaping the future landscape of the digital economy. Driving the growth and development of digital start-ups is to cultivate a digital economy ecosystem that is progressive and sustainable.
"This year's CACSC focuses on five core pillars namely digital tech, food and beverage tech, agro tech, blockchain and industrial revolution 4.0," he said.
Mahadhir said participants would gain access to mentorship programmes and workshops with experts from various industries.
CACSC is a global entrepreneur contest organised by Alibaba Cloud and is the largest start-up event Alibaba Group has hosted to date.
The organiser partners with HandsProfit, the local operator of Alibaba Cloud Innovation Centre Kuala Lumpur.
As one of the largest entrepreneurship contests of Alibaba Group, CACSC made its local debut back in 2019. Globally, dubbed the "Olympics" of technology venture capital, CACSC covers dozens of countries and just under 100 cities worldwide.