The Selangor Smart City & Digital Economy Convention (SDEC) 2024 has successfully concluded its transformative four-day event, marking a major milestone in Malaysia's digital transformation. Held at the Kuala Lumpur Convention Centre (KLCC) from October 16 to 19, 2024, the convention attracted over 20,000 participants, showcasing Malaysia’s growing enthusiasm for advancements in AI, semiconductor technology, and SME digitalisation. Industry leaders, global experts, government officials, SMEs, and innovators joined forces to drive Malaysia’s digital economy forward, resulting in an impressive RM100 million in potential transaction value generated from strategic partnerships and business engagements.
This year's convention featured a vibrant exhibition area with 214 booths, including 23 international exhibitors, and a total of 121 companies representing sectors like e-commerce, fintech, AI, robotics, telecommunications, and urban management. Major players such as AFFIN, TikTok Shop, PayMate, and the Advanced Semiconductor Academy of Malaysia (ASEM) showcased pioneering products and solutions. The exhibition floor buzzed with activity as thousands of visitors engaged with industry experts, municipal councils, and tech innovators, underscoring Malaysia’s progress toward a digitally-driven economy.
A key highlight of SDEC 2024 was the successful signing of 14 Memorandums of Understanding (MOUs), establishing partnerships to strengthen Malaysia’s capabilities in AI, semiconductors, and e-commerce. These alliances reinforce SDEC's commitment to fostering collaborations that advance Malaysia's digital economy:
1. Sidec and Cyberview Sdn Bhd
A partnership to advance IC Design Park Phase 2 in Cyberjaya, focusing on investment, ecosystem, and industry growth within the semiconductor sector.
2. Sidec and NCT Group
A collaboration to foster industrial development and community building at the NCT Smart Industrial Park, supporting business growth and global expansion.
3. Advanced Semiconductor Academy of Malaysia (ASEM) and Universities
MOUs and LOIs with 19 universities, including Universiti Malaya, Universiti Teknologi Mara (UiTM), Taylor’s University, and Sunway University, to enhance talent development, research exchanges, and joint projects in semiconductor and AI education.
4. Menteri Besar Selangor (Incorporated) and BizApp
This collaboration under the Platform Selangor (PLATS) initiative aims to onboard 50,000 MSMEs by 2025, supporting the digital transformation of local businesses.
5. Sidec & PayMate
Paymate in collaboration with Sidec launched a Business Payments App at SDEC 2024 to help Malaysian SMEs optimise cash flow with interest-free credit on B2B payments.
The convention also hosted three key conferences—Semiconductor Innovation, Generative AI Innovation, and the TikTok Shop SME Digitalisation Summit—featuring 61 speakers from seven (7) countries, including Malaysia, Singapore, France, China, Taiwan, the UK, and Hong Kong. The event underscored its role as a hub for meaningful discussions, impactful networking, and major deals, propelling Malaysia’s digital economy forward.
Meanwhile, the Selangor Accelerator Programme (SAP) 2024 Final Demo Day, concluded the 4-day event with the announcement of its top 10 winning startups. These startups, chosen from 20 high-potential finalists, showcased groundbreaking solutions in artificial intelligence, smart mobility, bio-based innovations, and net-zero initiatives. Winners, including companies like Alphaswift, Baituljannah, Shieldbase, Green Advantex, and Vidanex, received prizes that offer mentoring, investor exposure, and opportunities for international expansion, propelling them forward in their growth journey.
This year’s SDEC not only celebrated innovation but also marked a historic milestone for Selangor, now the first state in Malaysia to surpass RM400 billion in economic activity. With announcements of new initiatives, including a comprehensive AI strategy in the upcoming Selangor Budget 2025, the convention underscored Selangor’s leadership in digital transformation and its commitment to advancing Malaysia’s position as a digital economy powerhouse.
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