- Malaysia’s first state-led fund to accelerate growth of national semicon industry
- Lai Yit Loong, ex NVIDIA, Dr. Chiang Shang-Yi, Director, Foxconn & Nurul Izzah made advisors
The Selangor Information Technology and Digital Economy Corporation (Sidec) commemorated its 10th anniversary with a grand celebration, marking a decade of driving digital transformation and entrepreneurial growth in Selangor and, reinforcing its determination to be a leading regional semicon player, announced a US$23.7 million (RM100 million) Selangor Semiconductor Fund (SSF) with Artem Ventures and Permodalan Negeri Selangor Berhad (PNSB). This is Malaysia’s first state-led venture capital initiative dedicated to accelerating the growth of the national semiconductor industry and aims to support high-potential startups and scaleups in IC design, AI chips, and advanced semiconductor solutions.Yong Kai Ping, CEO of SIDEC stated the size of the fund during his speech.
The milestone event was officiated by Amirudin Shari, Chief Minister Selangor who reaffirmed the State Government’s commitment to advancing digital economy initiatives and strengthening Selangor’s role as a regional technology hub.
A video on Sidec’s decade-long journey, highlighted its role in supporting over 70,000 techpreneurs, SMEs and startups; helping to generate over US$174.3 million (RM736.12 million) in GMV; initiating over 80 programmes, including the Malaysia Semiconductor IC Design Park and leading Selangor based companies on global accelerator missions.
Sidec also announced the appointment of three distinguished figures as advisors to bolster its direction in innovation, talent development, and regional leadership in the digital economy:
- Lai Yit Loong, Former VP of NVIDIA Corp and Foxconn, has been appointed as Advisor to both the Malaysia Semiconductor IC Design Park and the Advanced Semiconductor Academy of Malaysia (ASEM), focusing on talent cultivation and cross-border collaboration in semiconductor technology and manufacturing.
- Nurul Izzah Anwar, Executive Chairman of Polity, has been appointed as Advisor to Sidec, bringing valuable insights in public policy, socio-economic development, and digital empowerment.
- Dr. Chiang Shang-Yi, Director at Foxconn and former Co-COO of TSMC, joins as Advisor to the Malaysia Semiconductor IC Design Park and ASEM, offering deep expertise in global semiconductor innovation and industry advancement.
Sidec said the appointments mark a significant milestone in strengthening Selangor’s positioning as a regional innovation hub and accelerating Malaysia’s semiconductor ecosystem.
Sidec also played host to Dr. Chiang Shang-Yi, a legendary figure and veteran in the global semiconductor industry, during his visit to Malaysia. In a special sharing session, Chiang offered invaluable insights on Malaysia’s role within the global semiconductor landscape, highlighting the critical importance of cross-border collaboration, strategic talent development, and strong public-private partnerships in driving the nation’s future in high-tech innovation.
The first cohort of graduates from the Global Semiconductor Exchange Program (GSEP), a two-month international training initiative under ASEM was celebrated. Held in Shenzhen, China, the programme equipped 30 participants — chosen from 343 applicants — with practical skills in Digital IC Design, including EDA toolchains, Verilog HDL, and system-level verification.
Participants also gained industry exposure through visits to leading tech organisations including HONOR, Reexen Technology, the National IC Innovation Center, and the 9th World Drone Conference. The GSEP initiative reflects Selangor’s long-term commitment to building a globally competitive semiconductor talent pipeline.
These various milestones not only celebrate Sidec’s journey over the past decade but also signal the beginning of a new chapter, it promises — one focused on global collaboration, deep tech innovation, and building a resilient digital economy.