Emerging regulatory trends for start-ups and scale-ups post- movement control
MALAYSIA Mohamad Izahar Mohamad Izham Partner Zaid Ibrahim & Co. (a member of ZICO Law) Co-Lead ZICO Labs izahar.izham@zicolaw.com +603 20879953
Overview: Impact of movement control 83.5% 64.1% 62.7% 74.9% were concerned reported that their of start-ups were unaware or about the decline sales or revenue had sought unsure of the various in sales and the had dipped by financial Government support inability to more than half assistance instruments or operate incentives 40% of startups will not survive if the COVID-19 crisis continues after May Source: Malaysian Global Innovation and Creativity Centre (MaGIC) of 239 start-ups and social enterprises over a four-day period from March 19 to 22, 2020. www.zicolaw.com | 3
Overview: The ‘New Norm’ Work From Home (WFH) Technology E-Wallet Start-ups and Scale- ups Online Delivery Business Services www.zicolaw.com | 4
Theme: Work From Home (WFH) 1 OBSERVATION • Buzzword of MCO is ‘WFH’ • Increased trend of co-working space and Source: https://www.theedgemarkets.com/article/cover-story-more- hot desk corporations-and-mncs-moving-coworking-spaces • Not something new for start-ups and scale-ups Recommend.my’s Survey Results on Effect of MCO on SMEs 2 REGULATORY CONSIDERATIONS • Working conditions • Occupational safety 3 REGULATORY TRENDS • Physical office www.zicolaw.com | 5
Theme: Online Business 1 OBSERVATION • Even before movement control, many brick and mortar businesses have been shutting down • Movement control has accelerated growth of online services 2 REGULATORY CONSIDERATIONS • Consumer protection 3 REGULATORY TRENDS • Registration of businesses • Licensing of platforms www.zicolaw.com | 6
Theme: E-wallet 1 OBSERVATION • Health concerns would spur growth of cashless payments 2 Source: https://www.theedgemarkets.com/article/tech-cashless- REGULATORY CONSIDERATIONS payments-become-more-popular-merchant-acquirers-will-thrive • Rapid growth in adoption 3 REGULATORY TRENDS • Digital banking license and framework www.zicolaw.com | 7
Theme: Technology CyberSecurity Malaysia – Reported Incidents Statistics 2019 1 OBSERVATION • Government push for Industrial Revolution 4.0 (IR4.0) • Social distancing means relying on virtual tools for communication 2 Questions on Social Media, E-commerce and Technology REGULATORY CONSIDERATIONS • Security of online meeting tools Source: https://www.mycert.org.my/portal/statistics- content?menu=b75e037d-6ee3-4d11-8169- 66677d694932&id=0d39dd96-835b-44c7-b710-139e560f6ae0 Source: https://www.digitalnewsasia.com/business/malaysias-small- businesses-well-placed-recover-economic-impacts-covid-19 www.zicolaw.com | 8
Theme: Delivery Services 1 OBSERVATION • Delivery services has been one of the core front liners during movement control 2 REGULATORY CONSIDERATIONS • Delivery services has yet to be fully regulated Statista – Projected Growth of Malaysian Food Delivery Services 3 REGULATORY TRENDS • Food safety • Halal food delivery www.zicolaw.com | 9
Key Takeaways The COVID-19 pandemic Moving forward, it is Cannot be left only to the and movement control important to quickly Government, but the affects all businesses understand what the whole ecosystem needs including start-ups and ‘new norm’ means for to play its part scale-ups your organization in order to quickly adapt www.zicolaw.com | 10
MALAYSIA Mohamed Yusnee Rahmat Mohd Yusof Director of ASEAN Centre of Entrepreneurship (ACE) Malaysian Global Innovation and Creativity Centre (MaGIC) yusnee@mymagic.my
INSPI SPIRE RE LEARN EARN GROW INITIAT TIATE
STRATEGIC GOALS POST MCO 1) RECOVERING REVENUE Important to identify the primary source of revenue Win back loyal customers Reskilling the sales force – remote selling Act with urgency – work faster and better 2) REBUILDING OPERATIONS The Future of WORK – Use of more Automation and Technology Complete tasks remotely – Using digital communication and collaboration tools Taking action – Faster turn around time
STRATEGIC GOALS POST MCO 3) RETHINKING THE ORGANISATION Strong sense of identity – Shared sense of purpose, culture between Leaders and employees Shifts in operating models – Clear goals, focused teams Rapid decision making – less bureaucracy 4) ACCELERATE DIGITAL ADOPTION Creating a seamless experience for customer Incorporate new data Create new models to enable real-time decision making
CONNECTING ASEAN STARTUP ECOSYSTEMS “Through ACE collaborations with the ASEAN counterparts. ACE will facilitate the Malaysian startups to connect with ACE’s partners in ASEAN” ● Through this programme, the selected startups will be hosted and assigned with mentors in the respective ASEAN country ● Startups get the opportunity to understand the market landscape, build connection and explore potential business opportunities for their expansion ● Currently the program have ‘ Go beyond’ ASEAN leveraging on ACE network
ASEAN SNAPSHORT + 7th largest economy worldwide, combined GDP of USD2.5 trillion and poised to become the 4th largest by 2030. 6 major economies Population of Thailand, Vietnam, Malaysia, Singapore, Indonesia and 630mil Philippines all expected to cross the USD3,000/capital barrier + 70% of the population is younger than the age of 40 years Aged 15-34 60% + 4th largest and the fastest growing internet market in the world, with more than 3.8 million going online every month. Top economies - 150 million population of 25+ years are unbanked. 100 million+ in >5.3% growth Indonesia, Philippines and Vietnam alone. - Internet speed are slower than global average for all countries 260mil expect Singapore Internet users 700mil Mobile connections Source: https://s3-ap-southeast-1.amazonaws.com/mymagic-misc/ASEAN+Startup+Landscape.pdf
ace@mymagic.my
MALAYSIA Mahadhir Aziz Chief Executive Officer Futurise Sdn Bhd mahadhir@futurise.com.my
SHAPING MALAYSIA’S FUTURE THROUGH NATIONAL REGULATORY SANDBOX (NRS) Futurise Sdn Bhd 6 May 2020
Introduction National Regulatory Sandbox (NRS) Strategic collaboration between Government, Academia, Industries and Entrepreneurs aims to expedite progressive & anticipatory regulatory intervention to enable commercialization of innovation & technology solutions while shaping Malaysia's future . An initiative by : Futurise as Public Policy Advisor for industry and government in the aspect of Future Economy to increase Malaysia’s overall competitiveness National Regulatory Former Prime Minister, Announcement of NRS, Sandbox Kick off Meeting through innovation-driven and adaptive policy- GEC Summit 2017 by MOF on 14 Feb 2018 making . 1 st 92 2020 NRS Submission as at 15 March 2018 18 BATCH FOCUS Mandated by Majlis Pembangunan Negara. Sectoral Industry Interest ”Meeting no 6/2019” 2 nd 2 Sectoral Industry Sports Tech Mobility Focus Futurise to lead the NATIONAL REGULATORY SANDBOX BATCH 9 21
Future Economy The development of “Future Economy Corridor” as a refresh to the Multimedia Super Corridor announced more than 20 years ago. 22
Futurise’s Positioning Thought Strategic Consultancy Facilitation Leadership Partner 1. Regulation interventions Strategic 2. Innovation deployments Outcome 3. Creation of innovation ecosystem 23
The Programmes Ideas Nucleus Labs Ventures Strategic Engagement FUTURITY Platform National Regulatory Commercialisation • • • • Networking Platform Accelerator & Industry Sandbox Market Access • • • Tech Talk & Event Development Co-Design Lab Funding • • • Showcase Training & Certification Rapid Prototyping Marketplace • • • • Foresight Regulation Intervention • • Pilot & Testing • One-stop center in development of futuristic innovation ecosystems 24
National Regulatory Sandbox Initiative 2019 Achievements NRS - UNMANNED AIRCRAFT SYSTEMS (UAS) Innovation Collaboration between MOT, CAAM, JUPEM, MAVCOM, Deployment MDEC & UAS industry by establishing a progressive and inclusive UAS regulatory framework with Cyberjaya Chaired by NRS Council recognized as first Drone Testing Zone (DTZ). KSN/ Prime Minister NRS tabling twice a year Regulatory Intervention NRS – AUTONOMOUS VEHICLES @ CYBERJAYA Regulatory Collaboration between MOT & relevant agencies to Sandbox Chaired by KSP support the development of urban mobility KSUs, Regulators, KP, while improving road safety and better productivity. NRS Task Force Private Sector, Industry Associations Developed guideline for AV trialling on public roads in Quarterly meeting Innovation Cyberjaya – endorsed by MOT and MP Sepang Screening NRS Advisory Panel Validation of Companies & OPEN INNOVATION PLATFORM @ FUTURITY Entrepreneurs A platform developed aimed to match innovation and NRS Secretariat solution between stakeholders while accelerating the ideation to commercialisation growth. NRS NRS PROCESS GOVERNANCE 25
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