The Bumi ICT Demand Aggregation (BIDA) programme, which commenced in 2013, is designed to assist Bumi ICT companies to improve their business growth and performance. This programme is developed to provide access to the local market through business matching from government agencies, corporations, government-linked companies (GLCs) and international organizations. The programme adopts a two-pronged approach i.e. aggregating demand and institutionalising supply with the objective to bridge demand requirements with capable Bumi ICT companies.
Since its inception, close to 300 Bumi ICT companies have been up-skilled of which about 70% have increased their revenues by 10%. The programme has also catalysed spin-off business opportunities amounting up to RM 81 Million and 77 companies have expanded their businesses in manpower growth, new branches/offices and business partnerships.
Various intervention programmes have been developed to address the gaps faced by the companies such as enterprise development initiatives, networking sessions, business coaching and clinics, competencies development programmes, and the like. BIDA also leverages on and works closely with other partners in the entrepreneurship ecosystem including other internal MDEC initiatives.
BIDA also plays an intense role to aggregate demand from local and global entities in the form of market access for these capable Bumi ICT companies, to accelerate their growth in terms of capacity and capabilities. Todate, circa RM500M worth of business opportunities have been qualified within a span of 12 months in 2015 and expected to multiply by 3 folds to RM1.5B within the next 24 months as Malaysia is currently driving impressive mega projects in various industries such as public transportation, smart cities, aeropolis, digital government services which offer countless opportunities for growth.
The true aspiration of BIDA is to build a strong community which involves the various players in the ecosystem i.e. the demand entities, institutional players, supply of companies, academia, international partners, mentors and so forth. From a simple fulfilment of demand and supply, BIDA is evolving to become a more holistic and sustainable ecosystem that will ensure the long term sustainability of this initiative.
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