27/10/2023 (Kuala Lumpur, Malaysia) - Synergy Labs has been inaugurated as the official Internet Computer Protocol (ICP) Hub of Malaysia. With deep roots in technology development, the hub's leadership is committed to fostering a robust blockchain ecosystem in both Malaysia and Thailand.
The ICP, a groundbreaking protocol in the tech world, will serve as a key tool in this transformative phase. Synergy Labs has underscored its dedication to supporting professionals in their growth and ensuring that their members remain at the cutting edge of ICP innovations.
Pic: Danes Jothiprahasam, Head of Domestic Digital Investment (MDEC)
Danes Jothiprahasam, Head of Domestic Digital Investment of MDEC during his session highlighted that it is their mission for Malaysia to be the preferred hub for world class digital business and talent. He further stated "The aim to determine how to get the decentralize market to Malaysia, Malaysia want to became hub in ASEAN to push this, MDEC need to decide if blockchain the area of new growth that we want to focus on".
Primarily, the hub focuses on aiding startups through incubation, acceleration, and educational programs. As the official ICP Hub, Synergy Labs will play a pivotal role in enhancing the growth of Malaysia-based tech startups, particularly in the domains of Blockchain and Artificial Intelligence (AI).
The Synergy Labs team comprises influential technology community leaders like Shas Fung, Roslan Wahab, Iana Pugahova, and several other seasoned technocrats. This elite team is at the helm, driving the adoption of the Internet Computer Blockchain and the development of a vibrant Web3 and AI ecosystem.
Pic: From left Shas Fung (ICP), Danesh (MDEC), Thila (42KL) and Jason Chew (KOPIDAO).
This initiative to establish the ICP Hub in Malaysia is inspired by the ICP Asia Alliance, launched in late September 2023 by a Swiss-based non-profit R&D organization in blockchain. Synergy Labs endeavors to be the nexus for various stakeholders such as governmental entities, investors, tech entrepreneurs, academic institutions, developers, and the community at large. Their overarching goal is to galvanize Web3 and AI technology development.
During the launch, Shas Fung, the Malaysian lead for Synergy Labs, expressed, “ICP Hub of Malaysia, under the Synergy Labs banner, is unwavering in its commitment to the Malaysian blockchain industry's growth. With the USD 20 million grant initiative from the ICP Asia Alliance, Malaysian ecosystem builders can progress more swiftly. Beyond financial aid, we aim to bolster the community via educational boot camps, hackathons, and more.”
Collaboration will be key to this initiative's success, with Synergy Labs joining forces with the Malaysia Digital Economy Council (MDEC), 42KL, and numerous other strategic partners.
The USD 20 million grant fund, initiated in September by the ICP Asia Alliance, is now within Synergy Labs' grasp to capitalize upon. They are set to introduce two grant types - Community and Developer grants, aimed at propelling technological development in Malaysia.
Community grants, tailored for events, hackathons, content, and influencers, offer sums of USD 5,000, USD 15,000, and USD 25,000. On the other hand, the developer grant, geared toward nurturing internet computer development, presents options of USD 5,000, USD 25,000, and a whopping USD 100,000.
Asia has been gaining traction as a global epicenter for web3 and blockchain innovation. Synergy Labs is keen on fortifying the ICP community's growth by promoting education, establishing strategic alliances, and accelerating projects.
They are poised to work in synergy with Alliance affiliates across Asia, crafting ICP solutions tailored for crucial areas, emphasizing inclusivity and backing for diverse projects. Tech and FinTech startups are encouraged to seize this grant opportunity.