Kuala Lumpur, August 17, 2024 - On 13 October 2023, Digital Penang, the state government-affiliated organization dedicated to advancing the digital economy, launched its first-ever "Market Access Program." This new initiative aims to propel Penang technology startups, including Haroct Technologies, into regional markets and build collaborative links with Indonesian partners.

The Penang State Government, through the Penang2030 vision, is committed to transforming the state into a leading digital technology hub. Over the past three years, Digital Penang has been instrumental in nurturing and advancing local startups, creating a robust ecosystem that supports diverse technological innovations (Digital Penang, 2023). 

“The Penang2030 vision targets the creation of 500 technology startups by 2030. We have already exceeded 100 startups across various technology sectors including e-commerce, hardtech, deeptech, agritech, and fintech,” said YB Zairil Khir Johari, Penang’s EXCO for Infrastructure, Transport, and Digital.

The "Market Access Program" will feature ten selected Penang-based startups, among them Haroct Technologies, at the Tech in Asia Conference scheduled for October 18 to 19, 2023. This conference serves as a strategic platform for accessing the Indonesian market. Through alliances with Indonesian ecosystem players such as Telkomsel Corporate Accelerator (TINC), Innovation Factory (operator of Block 71 Jakarta), and KUMPUL.ID, the program will facilitate valuable cross-border collaborations and investment opportunities (Buletin Mutiara, 2023; Malaysiakini, 2023).

Haroct Technologies, recognized for its advancements in sustainable agricultural technology, is set to benefit from this initiative. The company will use the conference to demonstrate its innovations, seek investment, and build connections with potential partners and investors in Indonesia.

Ts. Ng Kwang Ming, Chief Executive Officer of Digital Penang, emphasized the program’s impact, stating, “The Tech in Asia Conference provides our startups, including Haroct Technologies, with a crucial platform to expand their market presence, share expertise, and establish partnerships with key stakeholders and investors in Indonesia” (Digital Penang, 2023).

Indonesia’s rapidly evolving tech landscape, which boasts 15 unicorns and 2 decacorns as of 2022, offers a promising environment for startups. Jakarta’s leading position in ecosystem maturity, as ranked by Startup Blink, further enhances the potential benefits for Penang startups engaging in this program (Buletin Mutiara, 2023; Digital Penang, 2023).

This initiative by Digital Penang highlights its commitment to enhancing the global visibility of Penang’s technology sector and driving innovation, with Haroct Technologies playing a pivotal role in this expansion.