iPay88 Holding Sdn Bhd has announced a 3-year Memorandum of Understanding (MOU) with @CAT Penang that aims to help build an ecosystem for potential startups in Penang.
Formerly known as iPay88 Sdn Bhd, this NTT Data company as well as a Malaysia-based provider of online payment service solutions in ASEAN, will offer co-working spaces for aspiring startups in Penang.
"While the number of startups are growing globally, they face many challenges in the road towards achieving their goals.
“We believe that startups are an important catalyst in the growth of Malaysia and hence we are partnering with @CAT to provide co-sharing spaces for aspiring startups," said Head of Marketing of iPay88, Calvin Yeap.
He added that Penang is well-positioned to help tap into these opportunities as innovative technology and solutions hub.
This, he said, is in line with the government’s aim to accelerate the growth of startups in Malaysia as well as @CATs aim which specifically focuses on startups in Penang.
Director of @CAT Penang Howie Chang said: "@CAT aspires to help businesses transcend success toward building a sustainable tech startup ecosystem in Penang.
“Our partnership with iPay88 will provide these startups with a space to do business and interact with like-minded businesses and startups.
“We believe that the gathering and cohesion of entrepreneurial mindsets under one roof is the way to spark inspiration and brilliant ideas."
The community-run programme is supported by the Penang State Government via its Invest Penang programme.
@CAT provides mentorship, incubation, workshops, events, networking and innovation labs to aid startups.
"Any idea could be the next big innovation however, in order for an idea to flourish, it will need all the aid possible and iPay88 together with @CAT, is ready to help these startups achieve their dreams," Yeap concluded.
Apart from startup co-working space, iPay88 has also designed a startup package which will be offered through @CAT to enable more startups access to iPay88's payment gateway services.