Recognising the growth potential of the booming cybersecurity industry, Asia Cybersecurity Exchange (ASIACYBERX), a leading cybersecurity platform, is forging ahead with its plan to cultivate and nurture more local cybersecurity talent through a RM200 million Cybersecurity Accelerator Programme.
A first in Malaysia and Southeast Asia region, the Accelerator Programme is part of ASIACYBERX’s long-term plan to create a broader pool of cybersecurity talent through developing young innovative start-ups into high-growth potential businesses, which in turn, will help boost Malaysia’s overall digital economy.
The Accelerator Programme emphasises active mentorship to help local start-ups and entrepreneurs throughout every step of their growth journey, from commercialisation of solutions and products, to fine tuning business models, to securing funding and networking opportunities within its existing network of more than 20 mentors, entrepreneurs and industry experts.
To date, a total of RM200 million has been allocated under the programme to help shortlisted start-ups scale their business to the next growth level.
Supported by the several key government agencies, including Ministry of Communications and Multimedia, National Cyber Security Agency Malaysia (NACSA), Malaysian Multimedia and Communication Commission, Malaysia Digital Economy Corporation (MDEC) and Bank Negara Malaysia, ASIACYBERX was launched in April 2018 to strengthen the country’s growing cybersecurity ecosystem to support Malaysia’s transformation into a world-class cybersecurity resource hub. It is solely owned by ACE Accelerator Network Sdn Bhd, which was formed following a partnership between LE Global Services Sdn Bhd (LGMS) and the ACE Group, a diversified investment conglomerate. LGMS is currently the largest professional security testing firm in Malaysia.
According to the Ministry of Communication and Multimedia, Malaysia is one of the top three ASEAN countries to contribute 75 percent of the regional cyber security services market share by 2025.
While the Accelerator Programme is anchored on cybersecurity, Fong highlighted that the programme will not limit the selection process to pure cybersecurity players; instead it is open to start-ups in IT security, big data analytics, and cybersecurity-related solutions.
Interested start-ups can find out more information about ASIACYBERX Cybersecurity Accelerator Programme at https://asiacyberx.com or call 03-8601 4869 / email: [email protected]