Penang launches key semiconductor growth initiatives
GEORGE TOWN: Penang is establishing a Strategic Technology Fund with a state commitment of up to RM50 million to help local technology companies commercialise and scale globally.
Penang is launching key semiconductor growth initiatives, with the state committing up to RM50 million to a Strategic Technology Fund. The fund aims to commercialise and scale local technology companies, encouraging participation from venture capital, institutional investors, and the private sector. Additionally, Penang will expand its integrated circuit design ecosystem with PSD@5KM+ Campus II, providing over 70,000 square feet of additional space by early next year.
The state's three-pronged strategy focuses on attracting global technology leaders, strengthening local technology capabilities, and helping Malaysian firms commercialise intellectual property.
Brief written by urgent.news from New Straits Times's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
