George Kent is collaborating with MDEC to support and promote the growth of the tech ecosystem with the setting up of an investment arm as it also seeks new growth opportunities in the digital space.
Upon signing the MOU, both parties will jointly promote initiatives that will benefit and drive the growth of the tech ecosystem in the country. This collaboration is set to be a mutually beneficial public-private partnership that enables will accelerate the growth of the country’s tech ecosystem while at the same time assisting private sector businesses like George Kent to access new growth opportunities.
To start, George Kent will set up an investment arm providing the necessary funding and resources including financial, expertise, mentorship, and market access opportunities for local and regional tech companies. This is aimed to facilitate tech start-ups and smaller companies with financial support and the necessary leadership and market access to commercialize their businesses and upsize.
MDEC meanwhile will support in the sourcing of deal flows for George Kent including facilitating the introduction of venture capital and investors to George Kent for co-investment opportunities. The agency will also provide assistance in the form of valuation, mentoring, and market access opportunities to the investee companies in the collaboration.
Additionally, the investment arm will serve as an innovative platform for the Group to gain access to new and emerging technologies as part of its investment objective to seek strategic benefits for the Group in addition to long-term financial returns.
