City University of Hong Kong (CityU) exchanged a Memorandum of Understanding (MoU) with Malaysia Digital Economy Corporation (MDEC) on 21 August 2023 to establish further collaboration on fostering closer ties between the innovation and entrepreneurship ecosystems in Hong Kong and Malaysia, and co-nurturing start-ups to shine on the global stage.

The MoU was signed by Professor Freddy Boey Yin Chiang, CityU President, and Mr Mahadhir Aziz, CEO of MDEC.

The MoU signifies closer ties and cross-border collaboration between CityU and MDEC, a leading agency in driving the digital economy under Malaysia’s Ministry of Communications and Digital. This is the first MoU of this nature that MDEC has signed with a higher institution in Hong Kong. In particular, the collaboration will help start-ups and tech companies incubated by HK Tech 300, CityU’s large-scale innovation and entrepreneurship programme, and MDEC gain access to overseas markets and accelerate their presence.

The aim of the collaboration is to help promising Malaysian start-ups to expand business into Hong Kong and mainland China and pave the way for HK Tech 300 start-ups to enter the Malaysian market and beyond, leveraging the unique advantages and resources of both CityU and MDEC in Hong Kong and Malaysia.

President Boey said, “As an innovative hub for world-class research and teaching, and a globally connected university, CityU is well-positioned to contribute to this collaboration with MDEC by using its unique advantages and resources to help start-ups on both sides grow and shine. This partnership will further extend our innovation and technology capabilities in the region.”

Mr Mahadhir Aziz, Chief Executive Officer of MDEC, said, "This landmark collaboration with CityU marks a significant milestone in our goal of firmly establishing Malaysia as the digital hub of ASEAN. The Malaysia Digital national strategic initiative and suite of dynamic PEMANGKIN programmes aim to transform our nation's digital capabilities, foster the growth of tech companies, and attract digital investments to boost the digital economy. Our steadfast commitment lies in co-nurturing and empowering promising start-ups and tech firms in the region, empowering them to shine on the global stage, while accessing overseas markets to amplify their presence and contributions in the ever-evolving digital landscape."

To promote growth opportunities for young people and transform CityU research achievements and intellectual property into applications, CityU launched HK Tech 300 in March 2021 with a total allocation of HK$600 million. Riding on the positive impact of the programme, CityU inaugurated its first HK Tech 300 Southeast Asia Start-up Competition in Kuala Lumpur in May with partners from universities and incubators in the region, including MDEC.