The Selangor government recently announced that as part of its plans to accelerate the transformation of Selangor into a knowledge-based economy, a number of technopreneur campuses would be set up throughout the state with i-City being the first and flagship campus.

“Plug and PlayTech Centre Silicon Valley will also consider investing in the technopreneur companies under this incubator programme as well as be a bridge for them to the US market and US venture capital funds,” I-Bhd said in a statement.

It added that there were also opportunities for Malaysians to form joint ventures with the tech companies in the Plug and PlayTech Centre Silicon Valley campus to localise the products and services for the regional market.

The programme aims to nurture and grow local entrepreneurs in Information and Communication Technology.

Under the initial phase of the i-City PnP incubator programme, the Selangor state through its agencies would be investing RM50mil in a number of technopreneur companies.

i-City PnP incubator would also be working with Multimedia Development Corp (MDec) and a number of Malaysian technopreneur associations to ensure that the incubation programme meets the local technopreneur needs.

i-City PnP Incubator would initially occupy a 2,000 sq ft floor space in the i-City Cybercentre Suite 1 complex and would later be relocated to a dedicated building within the next two years. According to i-Bhd, a mentor panel comprising experienced business leaders to coach and guide these technoprenuers were also in place.

i-Bhd said 10 to 15 companies would be identified in the first half of this year, to be nurtured and grow.

“The initial selection focuses on companies in the development of solutions for digital cities, mobile contents or products and services for the property and construction related sectors,” it said.

There will be an opportunity to incubate 20 to 30 potential individuals aspiring to be technoprenuers in the second half.

It is expected to take two to three years for each technopreneurs company to move from the initial concept stage to the growth stage and hence by the end-2011, i-City PnP Incubator would be hosting about 50 incubatees every year.