Kuala Lumpur, Malaysia, 9 November, 2021 The hybrid (online + offline) closing ceremony of MaGIC Global Market-Fit Programme (GMP) was held in one of the TusStar hubs (around 300+ hubs across the world) in Shanghai, China and was live broadcasted in the world’s largest import-themed exhibition, China International Import Exhibition (CIIE) in the National Exhibition and Convention Centre in Shanghai. GMP (China) was launched back in August 2021 by Malaysian Global Innovation & Creativity Centre (MaGIC), in collaboration with TusStar, China's largest technology incubator to eliminate barriers to expand their business to China.
It was attended by 60 guests including the representatives from Malaysian Investment Development Authority (MIDA), Malaysia External Trade Development Corporation (MATRADE), Shanghai Science and Innovation Centre (China), China Pudong District Government, Tropicana Crop, TusHoldings, Shanghai Co Effort Law Firm, MaGIC and NeOOne.
Naim Abdul Rahman, Director of E&E, ICT and M&E Section of MATRADE asserted that China is a significant and strong partner of Malaysia and has been the Malaysia's largest trade partner since 2019, Their support to Malaysia has never been weakened, “I hope that Malaysian startups can take this opportunity to learn and exchange ideas for easing the process of expanding their business to China,” he added.
Huang Lihong, Deputy Director of Shanghai Science and Technology Innovation Center, also made a video appearance at the GMP closing ceremony and stated, "The long-term cooperation in the field of finance and trade between China and Malaysia has brought more confidence to the enterprises coming to China. TusStar has made full use of its global network resources to help cross-border enterprises and innovation start-ups to go global from overseas".
As one of the organizers, Amiruddin Shukor, the Acting CEO of MaGIC expressed his gratitude to TusStar for their guidance and assistance in making GMP run smoothly. He also mentioned that China has always been a popular country for start-ups and on top of that, China has been the fastest growing and technology adoption country in a global comparison.
Worthy to note, GMP has successfully arranged around 20+ business matching sessions and 50+ China companies involved after 200+ rounds of evaluation. GMP has also brought together five collaborations for participating companies to launch partnerships with China companies by signing Memorandum of Understanding. It is a step forward to their expansion of business and also one of the biggest achievements in GMP to validate the effectiveness and efficiency of market access programmes on helping startups to get their China market entry.
The participating companies of the GMP (China) were MyWave, Accordia Global, AOne Schools, TixCarte, Vencubator, Athletes for Athletes Solution, Urban Mobility Moovby, KelC Creative and NeuXP.
A roundtable discussion has been hosted during the closing ceremony titled “Opportunities and Challenges for Cross-border Development of Asian Technology Companies” featured by Steven Cheng from Investment Consul, Trade and Investment Division, Consulate General of Malaysia in Shanghai, Syed Mohamad Fairus Shaik Ismail Malaysian Foreign Trade Development Authority (MATRADE) Commercial Consul MATRADE, Sibo Qing Senior Partner Of Shanghai Xieli Law Firm, Deputy Director of Tus International Technology Transfer and Mian Wei Director of TusStar Industry Empowerment Center and Yafei Xue Director of TusStar International Cooperation, General Manager of TusStar (Canada) .
Syed Muhammad mentioned that "Malaysia has now signed a lot of free trade agreements with several countries and regions to provide more convenience and incentives for businesses that want to set up their business in Malaysia, one of the incentives is you get to enjoy low duties rate or even duty free".
GMP is a 3-months programme aimed to assist Malaysian startups in navigating the common obstacle when expanding into China, by collaborating with partners to establish bilateral launch pads to expedite the global expansion of Malaysian startups. GMP provides one-to-one business matching, pitching opportunities to China investors， intensive week of workshops to help startups to explore their China market opputunities and gain the business resources in China.
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