By Chan Wei Chao (REN 39846), Team Leader, Bricksmen Team · IQI Realty Sdn. Bhd. · Updated 9 November 2026
Penang’s Budget 2027 sets aside RM4.5 million for Digital Penang to support tech startups, help SMEs go digital and expand the use of artificial intelligence (AI) across the state economy. Chief Minister Chow Kon Yeow announced the figure on 7 November 2026 at the closing of the AI Future Makers Bootcamp 2026 at SEGi College Penang.
The allocation at a glance
| Item | Details |
|---|---|
| Amount | RM4.5 million in the state’s Budget 2027 |
| Agency | Digital Penang |
| Purpose | Support tech startups, SME digitalisation and wider AI adoption |
| Breakdown | Not disclosed |
Penang’s startup scene
- Chow said the startup community supported by the state has produced 310 companies and about 1,720 jobs.
- State digital committee chairman Zairil Khir Johari has put Penang’s startup scene at about 354 companies, the second largest in Malaysia, with a target of 500 by 2030. The sector is estimated to generate RM340 million in revenue and 2,600 high-income jobs.
- 675 graduates and working professionals have completed chip design training at the Penang Chip Design Academy, and 85% found work.
- The state’s STEM plan will take AI learning to rural schools through mobile programmes.
Chow also urged employers to look beyond conventional qualifications and give young job seekers interviews, mentoring or industry exposure, as AI changes how people apply for jobs and how companies screen them.
What it means for Penang property
RM4.5 million is a modest sum, but it adds to Penang’s push for higher-value tech jobs alongside the proposed technology financial centre and the state’s strong export performance. Young tech professionals tend to look for compact, well-connected homes near George Town, Gelugor and Bayan Lepas, either to buy or to rent.
| Project | Area | Indicative price | Completion |
|---|---|---|---|
| Scott @ Logan | George Town | RM496,800–RM1,664,800 | 2028 |
| G’Vinton | George Town | RM560,500–RM1,931,000 | 2028 |
| Maldives Residence | Bayan Lepas | RM498,000–RM550,000 | 2027 |
| D’Hazelton | Farlim | RM450,000–RM500,000 | 2029 |
Frequently asked questions
How much is Penang giving Digital Penang in 2027?
RM4.5 million in the state’s Budget 2027.
What will the money be used for?
Supporting tech startups, helping SMEs go digital and expanding AI use. The breakdown has not been announced.
How many startups does Penang have?
About 354, according to the state’s digital committee chairman, with a target of 500 by 2030. The Chief Minister separately cited 310 companies from the state-supported startup community.
Looking for a home near Penang’s tech hubs?
I can send the latest price lists for projects in George Town, Gelugor and Bayan Lepas. WhatsApp or call +60 10-313 9113.
Sources
- Penang Today: Penang allocates RM4.5m to widen AI use and support tech startups
- Malay Mail: Penang sets aside RM4.5m to grow startups, AI adoption and digital economy
This article is general information based on published reports as of 9 November 2026. It is not investment advice; project prices are indicative and depend on availability.