RM100 million boost for start-ups in Selangor

SHAH ALAM: The Selangor government has set aside RM100 million as venture capital for potential start-ups operating in the state.

It is also allocating RM76 million to help residents who have lost their jobs because of movement restrictions imposed by the federal government to control the spread of Covid-19.

Menteri Besar Amirudin Shari, in tabling the 2021 state budget today, said the RM100 million initiative under the Selangor Innovation Fund would identify start-ups that would be able to bring investment through new technologies.

“This is in line with our aim to be a smart state by 2025. There is a big potential for start-ups to develop and currently they only represent 0.25% of total businesses in the country,” he added.

He said RM3 million would be allocated to implement a 5G pilot project through Selangor-linked company Smartsel Sdn Bhd and the state secretariat office’s information management unit.

“The state government wants Selangor to have wide 5G coverage and we hope to start the 5G pilot project in the Selangor state secretariat for the benefit of our civil servants and visitors who come into the premises,” Amirudin said.

He also said that the Selangor government would allocate RM76 million through state-linked companies to assist residents in the state who have lost their jobs.

Amirudin added that programmes such as “Selangor Kerjaya”, “Selangor Automotif TVET”, “Rakan Digital Selangor” and “Selangor Freelancers” aimed to create job opportunities for this group.

“We realise about 26% of the country’s labour force are freelancers and the number keeps increasing because the people are opting for jobs that are flexible.

“The freelancers’ initiative is to build awareness and incentives for people to use their skills and make money,” he said, pointing out the state was targeting fresh graduates, unemployed persons and housewives.

Amirudin told the assembly that response to the state’s e-sports competition was very encouraging during the movement control order period.

“We will be setting aside RM3 million for the e-sports initiative by organising amateur tournaments, and providing training for youngsters to join e-sports,” he added.

The Selangor government today tabled a RM2.32 billion state budget for 2021, with a RM123 million deficit.

The state assembly will resume sitting on Nov 2 when assemblymen will debate on the budget.