NEM.io Foundation has partnered with the Malaysia Digital Economy Corporation (MDEC), an agency driving the digital economy in the country.

In August, NEM.io Foundation visited the MDEC as part of the 1st NEM.io Foundation Leadership & Strategy Summit. The visit was arranged as the foundation members work towards the upcoming launch of NEM’s Blockchain Center in Kuala Lumpur, Malaysia, which will serve as an incubator, accelerator, and co-working space.

The blockchain center will house the NEM Blockchain Innovation Lab, a headquarter for research and development as well as regional support for organizations interested in using the NEM platform within their IT infrastructures.

During the summit, Hizam Abdul Kadir, Vice President, Growth Ecosystem Development, shared about the Malaysia Digital Hub initiative – a place for growing startups to co-exist with the ecosystem to develop their next big idea in technology. NEM said that it has been working with the MDEC team to support this initiative.

Under the partnership, NEM will support Malaysia Digital Hub’s key objectives which include providing tax exemptions, visa for foreign talent, and support from private and public sector to entrepreneurs, CoinTelegraph reported.

The Malaysia Digital Hub initiative seeks to offer high-speed broadband, access to funding from private sector and government, access to mentors and talent builders, tax exemption, IP protection, Malaysia Tech Entrepreneur Programme that offers a 1-year pass for New Entrepreneur and a 5-year pass for Established Entrepreneur, and a founders network offering the opportunity to connect with founders of more than 20 nationalities, among others.

“There was an exchange during the meeting in how NEM.io Foundation could leverage its network and technology to develop enterprise solutions for the Malaysian economy,” Jason Lee, Global Director for Partnerships & Strategic Alliances, NEM said. “In summary, the meeting ended with further areas of collaboration and opportunity for further engagement between NEM.io Foundation and MDEC.”

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