Malaysia Steps Up Efforts To Strengthen Startup Ecosystem, Boost Global Reach - Chang

KUALA LUMPUR, Nov 4 (Bernama) -- Malaysia is stepping up efforts to strengthen its startup ecosystem through strategic collaborations, greater access to investment opportunities and expanded business networks across ASEAN to help local startups compete on the global stage.

Science, Technology and Innovation Minister Datuk Chang Lih Kang said initiatives such as the Cradle LIVE! Summit 2026 play an important role in empowering startup founders while opening up opportunities for Malaysian companies to expand their presence in regional and international markets.

He said the government reaffirmed its commitment by allocating RM41 million to Cradle Fund Sdn Bhd (Cradle) under Budget 2027 to drive the Malaysia Startup Ecosystem Roadmap (SUPER) and key grant schemes.

The allocation, he said, underscored the government’s ambition to position Malaysia among the world’s leading startup hubs by 2030, with a focus on investment facilitation, market access and sustainable scaling.

“Our challenge is not simply to build more startups, but to build companies that can scale, compete and create lasting value,” he said in his opening remarks at the Cradle LIVE! Summit 2026 at The Arch Galeries here today.

Highlighting the sector’s momentum, Chang said the 100 technology enterprises featured in the Malaysia Top 100 Startups (2026 Edition) collectively generated RM8.5 billion in revenue for the financial year 2024, charting an average compound annual growth rate of 87 per cent between 2021 and 2024.

He noted that the Startup ASEAN platform had evolved into a Digital Centre of Excellence (DCoE), integrating seven new features and artificial intelligence (AI) capabilities to enhance connectivity and cross-border commercial opportunities.

The upgraded platform served as a smart gateway to the regional innovation ecosystem, linking startups to prospective investors, corporate partners and accelerator programmes across the region’s 11 member states.

“ASEAN offers tremendous opportunities, with a market of close to 700 million people. However, startups expanding across borders often face challenges in finding partners, accessing information and navigating different markets,” he said.

Chang also underscored the importance of stronger corporate-startup collaboration through initiatives such as the Bengkel Inovasi GLC (BIG) programme, which brought together corporate reach and startup agility to fast-track commercialisation.

Since its rollout in June 2025, the Startup ASEAN platform has drawn more than 52,000 active users and 10,400 startups from over 150 countries, supported upwards of 50 regional initiatives, and linked over 250 founders with investors and corporate leaders through ASEAN CrossConnect sessions in Malaysia, Thailand and Vietnam.

-- BERNAMA