By Olivia Miwil
KOTA KINABALU: The Sabah Economic Development Corporation (SEDCO) has introduced a comprehensive Bumiputera Entrepreneurship Development Programme aimed at grooming entrepreneurs to grow from start-ups into international-scale businesses.
SEDCO general manager Datuk James Wong Kein Peng said the initiative, developed over the past six months, would not only focus on training but also mentorship, business exposure and scaling-up strategies to help local entrepreneurs compete globally.
"It's not an issue of capability but exposure.
"We went to the same universities and came from the same backgrounds.
"But what we really need is to expose our Bumiputera entrepreneurs and place them in environments where they can compete and flourish," Wong said in an interview with Media Prima at Wisma SEDCO here.
He said the programme is pending funding approval from the Sabah government and the Industrial Development and Entrepreneurship Ministry (MIDE).
Upon approval, it will focus on grooming between 30 and 50 existing Bumiputera start-ups with at least RM100,000 in annual revenue.
An architect by training, Wong was appointed to helm the statutory body by Chief Minister Datuk Seri Hajiji Noor earlier this year.
He added that within the next five years, many senior officers in government-linked companies (GLCs) and statutory bodies are expected to retire, making succession planning and structured leadership training a priority.
SEDCO has also established an Innovation Taskforce to groom young leaders and prepare for a generational transition within the organisation.
"We want to provide exciting business exposure to our young people and encourage fresh ideas for Sabah's economic sectors," he said, noting that SEDCO currently has more than 100 staff members who will have opportunities to contribute to and benefit from the initiative.
Wong also said the group will establish an Agribusiness and Agritech Taskforce to explore technologies such as vertical farming and Internet of Things (IoT) applications to enhance agricultural productivity.
He said that many young locals, despite owning land in their hometowns, prefer to work elsewhere rather than engage in agricultural activities.
"But with IoT technology and some of our technology partners in Singapore and Kuala Lumpur, we can create high-value crops in the most efficient way possible.
"Young entrepreneurs who participate in these ventures will be able to earn higher incomes," he said, adding that the initiative would also help address food security issues as Sabah still imports a significant portion of its food supply.
Wong said the Agribusiness and Agritech Taskforce will build partnerships between technology providers, government agencies and Bumiputera cooperatives to strengthen food security and empower local entrepreneurs.
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