Digital Minister inaugurates first Web3 Innovation Lab

Asia Pacific University of Technology & Innovation (APU) and Regov Technologies Sdn. Bhd. have officially launched Malaysia’s first Web3 Innovation Lab (W3IL), marking a significant milestone in the nation’s digital transformation. The state-of-the-art facility, located within APU’s Financial Trading Centre (FTC), aims to cultivate a new generation of Web3 developers and leaders by merging academic excellence with cutting-edge technological expertise.

The initiative was inaugurated on August 15 by Digital Minister Gobind Singh Deo, who emphasized the lab’s role in positioning Malaysia as a global technology powerhouse. “The W3IL is more than a lab; it is a dynamic ecosystem that fosters the development of Web3 talent and innovation. We are developing the next generation of leaders and visionaries to position Malaysia as a global technology powerhouse,” said Gobind during the ribbon-cutting ceremony.

An ecosystem for innovation and education

The W3IL, powered by Regov Technologies’ My Blockchain ID (myBID), a Web3-based Self-Sovereign Identity (SSI) platform, serves as a hub for innovation and education. By offering students access to real-world projects and industry-leading expertise, the lab addresses the critical shortage of Web3 developers, a gap that is widening as the global demand for blockchain solutions surges.

With the blockchain industry skyrocketing at an annual rate of 87.7%, the shortage of Web3 developers has become critical, widening the talent gap. APU’s Chief Executive Officer, Datuk Parmjit Singh, emphasized the lab’s potential to address this issue by equipping students with essential skills in the rapidly evolving Web3 landscape. “Our objective is to equip our students with the skills they need to thrive in the dynamic Web3 landscape. ,” he stated.

The lab’s programs offer APU students, alumni, and programmers immersive Web3 training, blending classroom learning with hands-on projects. Certified candidates will work on real-life projects leveraging the myBID SSI platform, ensuring a comprehensive learning experience under the guidance of Web3 experts.

Driving blockchain literacy

APU’s Blockchain & Cryptocurrency Club (APUBCC) has already emerged as a leading student-led organization in Southeast Asia, with over 1,000 active members. The club’s success, including hosting 56 events in 2023/2024, underscores the growing interest and demand for Web3 and blockchain knowledge. The W3IL is set to further solidify APU’s impact in this field by offering specialized training in blockchain programming languages, including TEAL for Algorand and Solana’s execution environment, among others.

Regov Technologies Co-Founder and Managing Director, Datuk Paul Khoo, expressed the company’s vision to position Malaysia as a regional Web3 hub. “By collaborating with APU and fostering a strong ecosystem, we aim to create an oversupply of Web3 talent capable of driving local innovation and competing globally,” he said.

The launch of the W3IL signifies a strategic leap forward for Malaysia, as it seeks to become a key player in the global digital economy. Through this collaboration, APU and Regov Technologies are not only addressing the immediate talent shortage but are also laying the foundation for Malaysia’s future as a leader in Web3 innovation.