KL20: Malaysia Targets RM700 Mln Venture Capital Investments By 2030 -- Akmal Nasrullah

By Nurunnasihah Ahmad Rashid

KUALA LUMPUR, Oct 14 (Bernama) -- Malaysia is targeting RM700 million in venture capital (VC) investments and an estimated 2,000 to 3,500 additional active startup companies by 2030 through the KL20 initiative, said Minister of Economy Akmal Nasrullah Mohd Nasir.

According to the minister, KL20 is an endeavour to strengthen the nation’s startup ecosystem and place Malaysia among the world’s top 20 for that ecosystem.

“These indicators will continue to guide us in enhancing the capability of our startups,” he told Bernama after appearing on Bernama TV’s Ruang Bicara programme “KL20 2026: Building Ecosystems, Opening Global Opportunities” on Tuesday night.

Akmal Nasrullah said developing the ecosystem also requires support and involvement from the capital sector and market players to enable founders to scale up and increase the value of their creations.

KL20@Kuala Lumpur, scheduled to take place on Oct 19 at The Campus Ampang, will focus on scaling startups nationwide by providing access to capital, strategic partners, and global markets.

“The event will follow KL20@Penang, which highlighted automation, silicon chip design and advanced semiconductor supply chains, as well as KL20@Johor, which focused on the Orange Economy, including digital content, animation, and video games.

“Meanwhile, the Kuala Lumpur series will highlight eight focus sectors, namely green energy and technology, the creative economy, agricultural technology, the digital economy, manufacturing and automation, video games, Islamic finance, and the third sector,” he added.

Akmal Nasrullah stated that among KL20’s focuses are helping more startups secure subsequent rounds of funding, develop AI-based startups, and commercialise research outcomes.

“This is the focus of KL20 so that Malaysia not only produces startups but also startups that can compete on the global stage.

“In the bigger picture, KL20 is the engine driving the national startup agenda. It coordinates various plans such as the Malaysia Startup Ecosystem Roadmap 2021-2030 (SUPER) and the Malaysia Venture Capital Roadmap (MVCR) so that ministries and agencies operate in an integrated manner,” he said.

The minister highlighted that the Global Startup Ecosystem Report 2026 reported that the value of Kuala Lumpur’s startup ecosystem nearly doubled in a year, from US$4.8 billion to US$9.0 billion.

He added that Malaysia’s talent score improved, and the country’s startups achieved exits in an average of 8.8 years, faster than regional and global averages.

He said that the Kuala Lumpur events give founders and startups opportunities to meet directly with investors, corporate partners, and agencies, while investors can scout the country’s best startups.

-- BERNAMA