Taxes and incentives:

• 0% tax rate for 10 or 15 years for new companies that invest at least MYR 300 million or MYR 500 million in Malaysia’s manufacturing sector.

• For companies conducting in-house R&D projects, the Tax Allowance (ITA) allows for a 50% deduction of qualifying capital expenditure incurred within 10 years.

• MTEP is a special program to attract entrepreneurs and technology professionals to invest or work in Malaysia.

• The SME Market Advisory, Resource, and Training (SMART) center provides advisory services to SMEs in addition to hosting workshops and webinars aimed at improving the competencies of SMEs.

• @CAT Penang is a tech startup and innovation hub launched by the Penang State Government.

Investment Landscape:

• The Penang i4.0 Seed Fund is a government-backed by the Penang government, funding early-stage technology companies.

Events:

• Startup Connect Gathering is a quarterly event introducing MNCs and SMEs to entrepreneurs and ventures relevant to their industry.

• Pitch Island is an event for startups in their early stages of raising funds, creating an environment to meet with angel investors from Penang.