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Digital Ministry to bolster Digital Content Space with incentives to empower Digital Creative Companies

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KUALA LUMPUR, March 5, 2024 – The digital creative industry is a significant driver of growth in Malaysia’s digital economy, recording more than RM1 billion in exports across 120 markets in 2022. This sector is also poised to grow at 8% yearly.

According to Digital Ministry in a statement issued today, more than 300 studios are engaged in animation, games, movies, and other aspects of creative technology, with 20 new studios being established every year.

“Over 180 original Malaysian Intellectual Properties (IP) have been recorded, and with MDEC’s commitment to the MyDigital blueprint and 12th Malaysia Plan to deploy a total of 200 IPs between 2021 and 2025, it is clear that there is great interest in this sector.” said the statement.

To further empower and bolster the digital creative industry, the Malaysia Digital Economy Corporation (MDEC) has introduced two new incentive programmes, as highlighted by Minister of Digital, Gobind Singh Deo at MDEC’s Digital Creative Industry Day Kuala Lumpur this afternoon.

“MDEC’s Digital Creative Industry Day is an annual event that gathers professionals in the digital content and creative technology field. The two programmes — the Brand Metaverse Onboarding Programme and the Immersive IP Experiences Programme — aim to accelerate the integration of Malaysian brands and intellectual properties (IPs) into the metaverse.

Under the Brand Metaverse Onboarding Programme, eligible companies can access incentives of up to RM100,000 to develop immersive and experiential virtual world content tailored for Malaysian brands. The scope of projects spans the creation of diverse digital assets, experiences, and environments within the metaverse.” said the statement.

The Immersive IP Experiences Programme, meanwhile, offers incentives of up to RM200,000 per project, targeting the expansion of top Malaysian IPs to a wider audience through existing Web2/Web3 centralised metaverses. Successful applicants will be tasked with creating a minimum of 10 minutes of immersive content featuring characters and settings based on partner Malaysian IPs.

“An allocation of RM6 million was provided in September last year for this purpose, and that these programmes are part of the Ministry of Digital’s broader vision to empower IPs, services, and non-endemic brands to capitalise on the growing digital adoption.

Today, under the MADANI Government, we are reaffirming our commitment to the industry players. We want to drive and accelerate the nation’s digital initiatives to assist the growth of the related industries. This is important to stimulate the next generation of industries and workforce, and to strengthen and future-proof our digital ecosystem.” said Gobind.

He also added that the Ministry of Digital will also enhance the Digital Content Ecosystem (DICE) policy this year, in order to push the creative industry to greater heights.

The closing date for submissions for both programmes is on 27th March, 2024.

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