KUALA LUMPUR, March 21: US based Draper University in collaboration with Malaysia Digital Economy Corporation (MDEC), an agency under the Ministry of Digital, will be setting up a campus in Kuala Lumpur, Malaysia, its first outside of the Silicon Valley.
This follows an agreement signed by the two parties towards supporting the, growth of 140 startups in Malaysia over the next two years, a statement issued by the ministry here today said.
“Draper University will support and spearhead the growth of 140 startups in Malaysia over the next two years with a focus on companies that operate in the AI, Cybersecurity, Blockchain, Web3, and Advanced 5G space.
“This strategic collaboration between MDEC and Draper University will drive investment in Malaysian startups like never before, by developing the digital ecosystem and providing mutually beneficial market access for emerging Malaysian companies to propel the country’s tech sector to even greater heights,” said Asra Nadeem, Chief Executive Officer of Draper University.
Commending the move, Minister of Digital, Gobind Singh Deo said such a development will accelerate innovation and value creation in the country’s startup ecosystem. “This underscores Malaysia’s commitment to develop a global mindset in this sector and position us as the preferred digital hub of ASEAN.”
Malaysia is currently looking to build that competitive edge capable of empowering startups, including supporting initiatives which innovate and simplify business processes.
Draper University has accelerated over 750 companies to date, with over USD1.05B raised from top global investors and produced several unicorns including “1047 Games” (video game developer) and “Highstreet” (a commerce-centred metaverse that integrates shopping with gaming).
Draper University is part of Draper Venture Network, an alliance of independent venture capital firms including Draper Associates, Boost VC, Draper Dragon, and Draper StartupHouse, a global chain of affordable hotels for entrepreneurs.
Draper University was founded by renowned venture capitalist Tim Draper.
–WE