The Malaysia Digital Economy Corporation (MDEC) has announced a series of incentive programmes aimed at advancing industry development and enhancing the industry’s international competitiveness.
MDEC Chief Executive Officer Anuar Fariz Fadzil described the digital creative industry as a ‘strategic economic industry with strong potential that continues to create high-value jobs, nurture local intellectual property while driving export revenue’.
“Through these financial incentive programmes, we aim to strengthen the entire value chain — from talent development to market access — while positioning Malaysia as a globally competitive hub for digital content creation,” he said.
Malaysia’s digital content market has grown substantially over the years, posting RM87.25 billion in revenue and RM11.18 billion in export sales, while creating gainful employment for some 11,154 Malaysians within this industry since 2011.
He said this when MDEC officially launched new funding initiatives aimed at empowering local studios and digital content creators across key segments such as games, animation and the metaverse. They include:
• The Digital Games Testbed Programme (DGTP) aimed at strengthening Malaysia’s games industry by providing RM3.5 million in funding to at least five Malaysian game development companies, each eligible for up to RM700,000. Open to Malaysian-owned games studios with a proven track record and a clear IP expansion strategy.
• The Animation Shorts Challenge programme, a competition-based initiative designed to strengthen Malaysia’s animation industry. Through structured competition and industry mentorship, this programme supports local creators in developing impactful animated short films (shorts) with strong Intellectual Property (IP) potential. A total project fund of RM1.2 million will be allocated to support 12 trained participants and the development of 12 new animation short IPs.
• Lastly, the Business in Metaverse Programme is designed to help Malaysian businesses leverage metaverse technologies for brand engagement and immersive commerce. With a total funding of RM1 million, this programme will support 200 businesses, each eligible to receive up to RM5,000 to implement metaverse-based marketing strategies.
Anuar reaffirmed MDEC’s commitment to advancing all facets of the digital economy, including nurturing local innovation, supporting local industry players and building a resilient digital ecosystem while enabling jobs and opportunities.
Traction in Asia?
In South Korea, the Seoul Metropolitan Government focuses on fostering cultural and creative industries by supporting XR (extended reality), film, media, webtoons, and games. It aims to build infrastructure and activate business ecosystems for these sectors by 2028.
The market size of the creative industries in South Korea surpassed USD 113 billion in 2022. The share of South Korea in global CCS (cultural and creative sectors) market, which was 2.6% of the total market in 2018, ranked as the 7th in the world. The other leading countries in this sector are the U.S, China, Japan, Germany, the U.K. and France.
Closer to Malaysia, the Infocomm Media Development Authority (IMDA) of Singapore offers grants such as the Media Talent Progression Programme and Long-Form Content Grants.
These programs support local media professionals in producing international-quality content, enhance skills, and encourage co-productions with Southeast Asian partners.
IMDA also supports short-form content creation and international collaborations through funding schemes.
(Adapted from press release).
