KUALA LUMPUR, April 22 -- The co-founder of Phison, Malaysia-born K.S Pua has revealed a new venture called Malaysia AI Storage (MaiStorage) that will be based in Selangor. The announcement was one of the major highlights of the first day of the KL20 Summit.

MaiStorage establishment includes technology transfer from Phison

While Pua has repeatedly called MaiStorage as a startup, the new venture has a rather strong backing from the Taiwan-based Phison. For one, the inventor of the USB flash drive said that Phison will be providing its technology know-how worth over RM1 billion to MaiStorage.

Interestingly enough, the technology transfer will be done through a partnership with Mimos. Among areas covered by the technology transfer include...