Technopreneurship in Malaysia By Nesha Priya

Technopreneurship in Malaysia

By Nesha Priya

Digital Malaysia Masterplan, is a plan mapped out by our government to accelerate the economic growth by inciting innovation. One of the schemes under this plan is to create more technopreneurs from the millennial generation and plenty of funding have been allocated to make it work. Technopreneurs, in case you’re wondering, run businesses (start-ups) by applying technology and innovation as the business’ core operating model. (Think Groupon).

Start-up owners generate their income by offering people better technology than what is already available. The issue faced by Malaysians is that we have plenty of resources but they are paired with poor service and management. For example, taxi dispatch services in Malaysia are inefficient despite having a large number of taxis. To improve things, MyTeksi's founder simply developed an app to create a platform that facilitates booking and dispatch services and ended up making a whole lot of money. Anyone could've thought of that right? The trick is to be ahead of others. 

Why is the government willing spend almost a hundred million ringgit on Gen Yers who are said to lack commitment? (Putting all political agendas aside) In Malaysia, technoenterprises are represented by ICT and multimedia SMEs that employ 56 per cent of the nation’s workforce and generate 32 per cent of the nation’s GDP. This means start-ups do not only accelerate our economic growth but also lower the employability rate. 

 Want to be your own boss and have always wanted to execute a kickass idea? Technopreneurship is the thing for you. Want to work at your own pace and place? Start-up employers emphasize on the quality of the work rather than the amount of time spent on it so it is feasible to have a flexible working schedule. Also, hierarchy is cast aside when it comes to brainstorming in most start-ups so employees can directly discuss their ideas and opinions with the CEOs, which isn’t hard to see why start-ups rev up innovation.

The best time to initiate your business is probably now, when you’re still an undergraduate student. Liabilities increases as you start working. This is the perfect time to experiment, expand your business network (University mates are more often than not supportive of their peers) and fail, terribly. If you succeed, great but if you don’t, it becomes an experience. Not to forget the free consultation you get from the lecturers that will cost a bomb once you leave University.

A financial expert once quoted “With technopreneurship, the world is the market. You just cannot go wrong”. So what are you waiting for?