Boosting the potential of start-up companies
@CAT had its Penang i4.0 Seed Fund Recognition Day today which was attended by Chief Minister Chow Kon Yeow as the Guest of Honour.
The event marked another milestone in the achievements of the 16 start-up companies while at the same time also signified another chapter in the journey of these companies to maximise their full potential using the seed fund that is awarded to them.
“On 10 March 2018, the Penang state government established the Penang i4.0 Seed Fund with an allocation of US$1 million. We want to create awareness and increase participation in the Industry 4.0 revolution and digital economy that is shaping our world today,” Chow said in his speech.
“The i4.0 Seed Fund provides funding for qualified high potential early stage technology start-ups and we hope that this fund can enhance the growth of Penang’s tech ecosystem,” he added.
The quantum breakdown provided to the companies through the fund is as follows: a total of 9 companies were awarded RM50,000 while another 7 companies were awarded with a quantum of more than RM50,000.
Also present were Pengkalan Kota assemblyman Daniel Gooi, Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar, investPenang chief executive officer Datuk Loo Lee Lian and @CAT Penang programme director Howie Chang.