{
  "id": 2753457,
  "title": "Got 20,000 tech engineers, but where are the investors? Jerejak may have the answer, says Bayan Baru MP",
  "url": "https://urgent.news/2026/08/23/got-20-000-tech-engineers-but-where-are-the-investors-jerejak-may-2753457",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-23T08:37:04.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/malaysia/2026/08/23/got-20000-tech-engineers-but-where-are-the-investors-jerejak-may-have-the-answer-says-bayan-baru-mp/232418"
  },
  "original_language": "en",
  "account": "Penang's ambitious plan to transform part of Pulau Jerejak into a financial and lifestyle hub has sparked hopes for the state's technology start-ups by offering them access to investors. Penang's MP for Bayan Baru, Sim Tze Tzin, believes this 32-hectare development could bridge the gap between venture capitalists, private equity firms, bankers, and technology investors and the engineers powering Penang's semiconductor industry. He emphasized the need for these key players to converge in one location, facilitating interaction and potential funding for new ventures. With approximately 20,000 integrated circuit design engineers currently working as salaried employees, clustering investors and technology companies in one place could transform engineering talent into thriving businesses, much like Silicon Valley in the US. The proposed ecosystem, modeled after Silicon Valley, aims to generate new ideas and accelerate Penang's technology sector growth. The developer, Tropical Island Resort, plans to incorporate a financial centre, resort, serviced apartments, and hotels into the ecosystem, fostering investment in Penang's technology and semiconductor industries. Sim, who previously resided in Silicon Valley for six years, emphasized the importance of regular interaction between engineers, entrepreneurs, and investors to stimulate innovation and spur sector growth. The proposed development, subject to restrictions on building height and density, will occupy 32 hectares of Pulau Jerejak's 360-hectare area, with 85% of the island remaining forest reserve. The state government also mandated the restoration of several heritage sites on the island, which has a rich history as a quarantine and medical site before becoming a detention centre. Work on a 1km elevated bridge linking Pulau Jerejak to Peninsular Malaysia is slated to commence with road-widening works in the coming month and conclude by March 2029. The RM500 million bridge will feature two lanes in each direction, along with pedestrian and cycling lanes, connecting the area near Jambatan Harapan and Queensbay Mall to the island. Sim confirmed the developer's agreement to his proposal for the bridge to become an iconic landmark, with international architects and a local architect to design it. The bridge is anticipated to provide direct road access to Pulau Jerejak, currently reliant on boat services, while enhancing its accessibility to tourists.",
  "summary": "GEORGE TOWN, Aug 23 — Penang’s plan to turn part of Pulau Jerejak into a financial and lifestyle hub is bein...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Malay Mail",
        "title": "Got 20,000 tech engineers, but where are the investors? Jerejak may have the answer, says Bayan Baru MP",
        "url": "https://urgent.news/2026/08/23/got-20-000-tech-engineers-but-where-are-the-investors-jerejak-may",
        "published": "2026-08-23T08:37:04.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}