THE Penang government is allocating a matching fund of up to RM1 million to support tech and engineering innovation and entrepreneurship.
Chief Minister Chow Kon Yeow revealed this today at the launch of the book, Founders’ Grit, which features the success stories of 29 notable engineering companies in the high-tech manufacturing sector as well as exciting digital technology startups that have emerged in Penang.
He said he was pleased to announce the up to RM1 million matching fund that will be led by Digital Penang.
“I am happy to note that the Federation of Malaysian Manufacturers Penang (FMM Penang) has already raised RM20,000 towards this initiative,” Chow said in his speech at the virtual book launch from Komtar.
“I encourage all interested parties to reach out and partner in this venture. To our industry giants that have been profiled in this book, congratulations on your success. Let’s be partners in developing the next generation of entrepreneurs.
“I would also like to congratulate Digital Penang for the publication of Founders’ Grit and its role in championing Penang-based enterprises and startups.
“We want to encourage more of such stories because these are fundamental for Penang’s economic success both in the past and for the future.”
Among the entrepreneurs featured in the book are Chong Soon Kheng or better known as S.K. Chong (Swift Bridge Technologies Sdn Bhd), Chuah Di Ken (PingSpace Sdn Bhd), Leong Shir Mein (DeliverEat Sdn Bhd), Davis Chong (Solarvest Energy Sdn Bhd), Chu Jenn Wei (Vitrox Technologies Corp Berhad), EK Tan Greatech Berhad and Chuah Choon Bin (Pentamaster Berhad).
Digital Penang chief executive officer Tony Yeoh said he hoped the industry players would share the book with their business partners and investors to demonstrate the strength of Penang’s ecosystem.
“Penang has a long tradition of entrepreneurs – from Yeap Chor Ee to Loh Boon Siew and to talents like Dr Wu Lien Teh.
“We hope that you (the industry players) will join Digital Penang as mentors to groom the next generation of entrepreneurs in engineering and technology,” Yeoh said in his speech.
FMM Penang chairman Datuk Jimmy Ong said Penang has come a long way since the state’s industrialisation started in 1972 and has now witnessed the true labour of its success.
“When I read this book, I was overwhelmed by some of my close friends’ life stories. The trials and tribulations they went through were remarkable and an eye opener.
“To me, there is no standard formula for a successful entrepreneur. But I see these entrepreneurs have the following qualities:
“They dare to dream, they dare to fail, they persevere, they have single-mindedness, some say they have fighting spirit.
“Creativity and innovation are also very important. Creativity is the art of conceiving something new while innovation is the art of putting something into practice.
“They also have professionalism and social skills and empathy. Customer is everything. Take care of the needs of the customers and the rest will take care by itself.
“The last is planning. If you fail to plan, you plan to fail. Very true if you want to survive in the very highly competitive environment,” Ong said.
For more information about the book, visit https://digitalpenang.my/founders-grit/ or you can purchase your copy via Penang Monthly Store (available for bulk orders too) via https://penangmonthly.com/collector-item?utm_source=Website&utm_medium=button&utm_campaign=Founders%27+Grit
Story by K.H. Ong
Pix by Adleena Rahayu Ahmad Radzi
Video by Chan Kok Kuan