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Future Digital Finance West | Dec 4-5 | Phoenix, AZ
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Digital Hub is not a new idea. It’s been percolating for a few years, and its roots can be traced to Dublin, Ireland, where in a cluster of eight buildings, there exists what might be the original hub. In Dublin, it’s made up of 97 companies employing 725 people, and it was given a jumpstart by the government in 2003. Elsewhere, we might be more attuned to the idea of a tech incubator.
Fast-forward to today and half a world away in Kuala Lumpur, where Oracle has employed the hub concept to label its small and medium-sized enterprise incubator — and for good reason. More than two-thirds of the world’s total micro and SME market, equal to 266 businesses, is in the Asia-Pacific region, according to a New Straits Times report.
“The KL digital hub is set to leverage Asia Pacific’s small and medium enterprises’ immense growth through providing our Oracle Cloud solutions to streamline operations, boost innovation and build a platform for growth,” noted Fitri Abdullah, Oracle managing director of Malaysia.
All well and good — and timely too — with Oracle OpenWorld happening next week. Oracle has learned the lesson of its main rivals for supremacy in the cloud: In addition to creating product (supply), it also needs to create demand, which would seem to turn a foundation of economics on its head.
Say’s law states that supply creates its own demand, but the literal meaning of the term might…