Basis Bay announces "Uplifting Disenfranchised Minority Fund" in collaboration with KLSICCI

The Technopreneurship Initiative aims to assist minorities across the Asia Pacific region
By: Basis Bay
KUALA LUMPUR, Malaysia - Sept. 25, 2019 - PRLog -- The BB-FICCIM & KLSICCI Technopreneurship Initiative was established in partnership between Basis Bay and the Kuala Lumpur and Selangor Indian Chamber of Commerce and Industry (KLSICCI). The partners signed a Memorandum of Understanding (MoU) during the launch of the Federation of Indian Chamber of Commerce and Industry Malaysia (FICCIM) on 7 September 2019. The ceremony was officiated by Dato' Seri Anwar Ibrahim, President of Parti Keadilan Rakyat and leader of the Pakatan Harapan together with Basis Bay's Customer Engagement Director, Farina Farid, and FICCIM/KLSICCI President, Datuk R. Ramanathan.

Basis Bay, a leading provider of Sustainable Cloud and IT Infrastructure services, announced the BB-FICCIM & KLSICCI Technopreneurship Initiative, which is part of Basis Bay's recently established CSR effort, Uplifting Disenfranchised Minority (UDM) Fund. The UDM Fund's primary objective is to assist disenfranchised minority groups across the Asia Pacific region in strengthening technology entrepreneurship knowledge which will then contribute to the enablement of Industry 4.0.

"Entrepreneurship is a key means through which minority groups can empower themselves and contribute to prosperous, inclusive and sustainable development. Therefore, there is an inherent need to support and uplift the disenfranchised minority group of tech entrepreneurs towards the Industry 4.0 revolution in Malaysia and across the Asia Pacific region," expressed Dato' Praba Thiagarajah, Founder and Group Chief Executive Officer of Basis Bay.

Small and medium-sized enterprises (SMEs) comprise 96 percent of firms in ASEAN member states and contribute a growing share of revenue to these countries according to an ASEAN SME Policy Index report. The UDM Fund is poised to build a gateway to empower disenfranchised minority tech entrepreneurs in these countries.
The Fund has been established with USD $150,000 and has the potential for incremental increases based on the programme's success. This infusion of funds will help to encourage regional tech entrepreneurs in the development of innovative ideas for successful business transformation as well as aid the enablement of Industry 4.0 with these disenfranchised minority groups.

"Through this initiative, we hope to empower minority technopreneurs by giving them a competitive edge. Increasing global competition means it is imperative for Malaysia and the Asia Pacific region to cultivate technopreneurs of all backgrounds, gaining the benefits of regional economic integration, to building a prosperous, inclusive and resilient economic community," Dato' Praba added.

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