InvestPenang is a non-profit entity established by the Penang State Government on November 5, 2004, with the primary goal of promoting investments in Penang[1][3][4]. It serves as the principal investment promotion agency for the state, focusing on developing and sustaining Penang's economy through foreign and local investments[1][3]. ### Key Objectives and Initiatives: - Promotion of Investments: InvestPenang aims to enhance Penang's business-friendly environment, strengthen its competitive edge, and promote it as a preferred location for technology and industry globally[3]. - Support for SMEs and Startups: InvestPenang operates initiatives like the SMART Centre to assist SMEs and the Penang CAT Centre to support talents. Additionally, it manages the i4.0 seed fund to elevate the start-up ecosystem[1][2]. - Economic Growth: The organization seeks to sustain and rejuvenate business activities by exploring new growth areas and facilitating the growth of domestic industries[3]. ### Notable Programs: - Penang i4.0 Seed Fund: This fund, with an allocation of US$1 million, is designed to encourage innovation and participation in the Industry 4.0 revolution[2]. ### Leadership: - CEO: Lee Loo is the CEO of InvestPenang[1]. ### Location and Structure: - Headquarters: Located at 1 Jalan Sultan Azlan Shah, Bayan Lepas, Penang 11900, Malaysia[1]. - Employees: InvestPenang has a team of approximately 24 employees[1]. ### Vision and Mission: - Vision: To be the driver of technology and industry for sustainable economic growth and prosperity in Penang and Malaysia[3]. - Mission: To promote Penang as the location of choice for technology, industry, and business globally[3].