Malaysia's Cyberjaya at 'tipping point,’ now eyes global tech hub goal

Cyberjaya marks its 20th anniversary by reinventing itself as a smart city with global tech hub ambitions bolstered by 11 major announcements.

By AvantiKumar
June 5, 2017

"Today's announcements will not only act as growth drivers for the city and its population, but also greatly benefit growth for Cyberjaya in addition to contributing towards national goals - especially for those relating to the innovation and digital economy agenda," he said.

"We look forward to further strengthening Cyberjaya's offerings as a sandbox and playground for people to take innovative technology ideas from concepts and start-ups and grow them into businesses capable of competing in the global scene," added Faris.

What we know so far about the 11 new moves

The launch of the Futurise Centre, a joint-venture project between Cyberview and the Malaysian Global Creativity & Innovation Centre (MaGIC) took centre stage among the multiple announcements. This [Futurise] centre is to act as a hub for corporations, universities and entrepreneurs to develop future innovations.  Research universities such as Multimedia University and Tsinghua University will share the centre with industry players that include Microsoft HoloLens and AI Lab, and United Nations Technology Innovation Lab (UNTIL). UNTIL will bring together UN personnel, academia, governments, start-up companies and major tech companies.

Other significant investments include those by Winhong Information Technology Corporation as well as the Barrington Group and Beijing Fullrich Information Technology. Winhong will invest a projected RM100 million over 5 years in its Asia Big Data centre, which will also provide up to 500 high value jobs. The Barrington Group and Beijing Fullrich's Regional Fintech Hub is expected to invest RM60 million over the next 5 years. In addition to contributing towards China's 'Belt and Road' policy, the Fintech Hub aims to create 300 jobs; supporting up to 3.2 billion transactions (equivalent to nearly RM80 billion in transactional value) in the fifth year.

Another key announcement is the Cyberjaya Innovation Fund for the Future. With a commitment of RM100 million by the Ministry of Finance; to be disbursed by Cyberview  over the next 10 years beginning 2018, the fund will be channelled through a co-investment model for innovation and smart city related projects located in Cyberjaya and driven either by local or foreign partners.

Here is ​​a summary of projects and investments announced:



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