Yesterday, in the Dewan Negara, Economy Minister Rafizi Ramli announced that the government is gearing up to organise a startup convention in the near future, with the primary aim of cultivating more local technopreneurs.
Rafizi stressed that the development of startup companies plays a crucial role in expediting the country’s economic transition towards technology and digital-based industries, according to Bernama.
Additionally, he highlighted the government’s commitment to strengthening the venture capital ecosystem to facilitate the emergence of technology-based startups, including initiatives to secure funding from government-linked companies (GLCs).
In his address while presenting the motion on the 12th Malaysia Plan Mid-Term Review at Dewan Negara, Rafizi emphasised the importance of empowering local talents as technology creators and developers, particularly by offering support to investors and early-stage startups.
The government is pursuing the vision of making Kuala Lumpur a regional hub for startup companies and the digital industry, aiming to attract investments and digital talents, with the ambitious goal of positioning Malaysia among the top 20 countries in the global startup ecosystem by 2030.
Further elaborating on the government’s commitment, Rafizi disclosed that substantial grants amounting to RM266 million have been allocated this year to support local startup companies, with RM63.9 million already disbursed to date.
These measures are intended to foster the growth of unicorn-level companies within Malaysia.
