In Malaysia, the 2022 Create@ Alibaba Cloud Global Startup Contest was introduced today by Alibaba Cloud, the foundation of the Alibaba Group's digital technology and intelligence. This competition is run in collaboration with HandsProfit, the local manager of the Alibaba Cloud Innovation Centre Kuala Lumpur (ACICKL) in Malaysia, and serves as a platform to promote digital transformation and technological innovation as well as the potential realisation of tech start-ups through a network of investor ecosystems.
Create@Alibaba Cloud Startup Contest (CACSC), one of the biggest entrepreneurial competitions of the Alibaba Group, made its local debut in 2019. CACSC, termed “the Olympics” of technology venture capital globally, spans several nations and just under 100 cities internationally. More than 200 people in Malaysia have benefited from the competition throughout the years in an effort to further their digitalization journeys and gain the necessary industry exposure.
The CACSC this year will concentrate on five key areas: digital technology, food and beverage technology, agro technology, blockchain, and industrial revolution 4.0. The contest gives participants access to ready-funders and investors for their projects, Alibaba's vast range of business ecosystems and resources, as well as the opportunity to gain from the best digital business practises of Alibaba Group, in line with Alibaba Cloud's long-term commitment to building a sustainable ecosystem for start-up businesses.
“Being a global ecosystem builder, we are excited to nurture bright, up-and-coming local talents through this contest and connect them with key business leaders and venture capitalists,” said Kun Huang, General Manager of Alibaba Cloud Intelligence in Malaysia. “With this initiative, we will continue to propel the growth of tech start-ups in Malaysia to the next level.”
The goal and mission of CACSC are in accordance with Malaysia Digital, the national strategic initiative to advance Malaysia's digital economy and empower local start-ups to become world leaders, according to YBrs TS Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation (MDEC).
“Startups have the capacity to influence how the digital economy will look in the future. Building a progressive, long-lasting digital economy environment is what will fuel the expansion and growth of digital start-ups. The CACSC supports MDEC's and, consequently, the Malaysian government's initiatives to promote a healthy digital start-up ecosystem and the development of a progressive, inclusive, and sustainable digital economy, the official continued.
Along with the aforementioned advantages, participants will also have access to the Alibaba Cloud ecosystem, which includes mentorship programmes and workshops with experts from different industries as part of its role in developing a sustainable pool of digital talent. These resources can help participants grow their businesses.
“It is my great honour to participate in Create@Alibaba Cloud Global Startup Contest for the third time, and I strongly believe that digitalization is the way forward for the country,” said Andrew Thu, the organising chairman and founder of My Lives Global Capital. In keeping with our slogan, “Create Infinite Possibilities!,” we hope that the competition will be able to promote the next generation of entrepreneurs while helping entrepreneurs refine their business concepts and achieve vital brand recognition on a global scale.
