Malaysia Eyes Creation of 900 Startups by 2026 via AI Sandbox Program
The Ministry of Science, Technology and Innovation (MOSTI) of Malaysia said in a statement that it has launched the AI sandbox pilot program, demonstrating its dedication to enhancing AI through the cultivation of AI talent in collaboration with other government bodies and industry stakeholders.
The initiative is a strategic collaboration between the National Technology Innovation Sandbox (NTIS) and NVIDIA, and is set to propel Malaysia into a knowledge-based economy, with AI driving innovation, productivity and competitiveness.
"The program envisions facilitating the establishment of up to 900 AI startups by 2026, nurturing the development of over 13,000 new AI talents and potentially stimulating up to 10 percent economic growth through the creation of new industries and job opportunities. We are setting a new benchmark for Malaysia's presence on the global stage," said Chang Lih Kang, minister of Science, Technology and Innovation.
He said this is a testament to Malaysia's commitment to driving innovation and competitiveness in the international arena, perfectly aligned with the national goal of incubating 100 AI companies to generate 1 billion ringgit (209 million U.S. dollars) in revenue by 2030.
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