KL ranks 18th in Emerging Startup Ecosystems, historic first for Malaysia
The Ministry of Science, Technology and Innovation (MOSTI), in a statement, said the milestone reflects the tangible results of Malaysia's coordinated national innovation agenda, with strategic startup ecosystem programmes and capital mobilisation efforts now showing measurable impact.
It stated that the GSER, considered the world's most comprehensive analysis of startup ecosystems, evaluates over 300 cities across more than 100 countries, and highlights Kuala Lumpur's progress across performance, funding, talent development and most notably, market reach.
MOSTI said Startup Genome noted that early-stage funding in Kuala Lumpur reached RM1.5 billion (US$368 million) over the past two and a half years, an increase of over 40 per cent from the previous cycle - a clear indicator of rising investor confidence and ecosystem momentum.
The ministry said the country's growing global recognition in innovation is driven by its maturing ecosystem, guided by the long-term Ekonomi MADANI policy. Central to this progress are two key national strategies - the Malaysia Startup Ecosystem Roadmap (SUPER), launched in 2021, and the KL20 Action Plan, introduced in April 2024.
According to Science, Technology and Innovation Minister Chang Lih Kang, the progress reflects years of deliberate policy design and institution-building under SUPER, which laid the foundational infrastructure for growth across capital formation, talent development and regulatory frameworks.
'Kuala Lumpur's entry into the Top 20 Emerging Ecosystems marks a significant leap forward from its previous placement in the 21-30 band between 2022 and 2024, underscoring the momentum achieved through policy coherence and stakeholder alignment.
'A key contributor to this rise was the marked improvement in the city's Market Reach score - jumping from two to 10, which reflects the growing ability of Malaysian startups to access international markets, scale beyond domestic borders and compete globally.
'Under MOSTI's leadership and with Cradle Fund as our focal point agency, we are collaborating closely with public and private sector partners to elevate the nation's startup ecosystem, empower founders, and position Malaysia as a destination of choice for global startups, talent and investors,' he said in the statement.
In this year's report, Startup Genome highlighted ecosystem performance, talent depth, capital availability and market reach as key drivers of Kuala Lumpur's improved standing, including 44 per cent rise in early-stage funding from US$255 million to US$368 million, a 22 per cent increase of total venture capital funding that reached US$3.3 billion and surge of market reach score from two to 10.
With over 4,400 startups supported under the national MYStartup Single Window initiative (www.mystartup.gov.my), Malaysia's innovation ecosystem is rapidly transitioning from promise to performance, with the government now setting its sights on the next milestone: positioning Malaysia among the Top 20 Global Startup Ecosystems by 2030.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
an hour ago
- Borneo Post
King warns Mindef against buying 'flying coffins'
His Majesty Sultan Ibrahim, King of Malaysia, who is also Colonel Commandant of Gerup Gerak Khas speaking at the at 60th Anniversary Parade of Rejimen Gerak Khas (RGK) at Kem Iskandar, here. – Bernama photo MERSING (Aug 16): His Majesty Sultan Ibrahim, King of Malaysia, today issued a stern reminder to the Ministry of Defence not to repeat past mistakes in the procurement of military assets, particularly used aircraft that could endanger the lives of pilots and military personnel. His Majesty said the nation's experience in purchasing second-hand Skyhawk aircraft should serve as a lesson, as the planes could not be fully utilised. 'Do not repeat the past mistake like when we bought second-hand Skyhawks… are we going to put our pilots in 'flying coffins'? Think for yourselves. 'I believe all this happens because the Ministry of Defence is full of agents or ex-generals turned salesmen, and even textile traders trying to sell drones,' said Sultan Ibrahim at the 60th Anniversary Parade of Rejimen Gerak Khas (RGK) at Kem Iskandar, here. Also present were the Regent of Johor Tunku Mahkota Ismail and Tunku Putera Johor Tunku Abu Bakar Sultan Ibrahim. Defence Minister Datuk Seri Mohamed Khaled Nordin, Malaysian Armed Forces Chief General Tan Sri Mohd Nizam Jaffar, and Army Chief General Tan Sri Muhammad Hafizuddeain Jantan were also in attendance. The A-4 Skyhawk, developed by McDonnell-Douglas (now Boeing), was closely associated with the Royal Malaysian Air Force (RMAF), which acquired 80 units from the United States in 1982 at US$1 million each, before retiring the fleet due to a high accident rate. Sultan Ibrahim, who is also Colonel Commandant of Gerup Gerak Khas (GGK), further advised the Defence Minister to cancel the proposed purchase of Black Hawk helicopters that are over 30 years old, out of concern that the same mistake would be repeated. The monarch emphasised that all parties involved in military procurement must ensure evaluations are conducted transparently, based on market prices and the actual needs of the armed forces, and not merely on the recommendations of agents or vested interests. 'Do not waste time buying nonsense that does not fit the needs of the military. If you don't know the price, ask me first. 'Five years ago, I pointed out the purchase of rigid raiding craft for the commandos at RM5 million, when I could have sourced a better boat for under RM2 million. 'Recently, I heard there was a proposal to buy a similar boat but in a larger size, at nearly RM10 million. This makes no sense and must be carefully reviewed,' Sultan Ibrahim said. His Majesty stressed that if all asset purchases are made at inflated 'middleman' prices, then government allocations will never be sufficient. 'Therefore, do not try to fool me. If you do not want to heed my advice, I will not speak up again,' His Majesty said. In addition to highlighting the need for price transparency, Sultan Ibrahim also criticised the delay in the combat diving pool project at RGK Camp, which was supposed to be completed in 2022 but is still not operational. At the same time, His Majesty urged the government to prioritise the acquisition of new equipment to ensure RGK's readiness remains at the highest level, enabling swift response to any threat. The parade was held to commemorate the 60th anniversary of the RGK's establishment and to honour the services and sacrifices of this elite unit's warriors in defending the nation's sovereignty. – Bernama military assets Ministry of Defence Sultan Ibrahim Iskandar
The Sun
2 hours ago
- The Sun
Timor-Leste nears permanent ASEAN membership ahead of October summit
SEREMBAN: Timor-Leste's permanent membership in ASEAN is now in the documentation phase before its formal admission at the October summit. Foreign Minister Datuk Seri Mohamad Hasan confirmed the progress during a press briefing today. 'At the upcoming ASEAN Summit in October, there will be a ceremony to welcome Timor-Leste as a permanent member of ASEAN. Right now, it is only at the documentation stage,' he said. He added that Timor-Leste has met most of ASEAN's membership requirements. 'We decided that they should first be admitted as a permanent member, after which ASEAN will assist them in completing the remaining documentation process,' he explained. Mohamad spoke after officiating UMNO Rembau's women, youth, and puteri division meetings. ASEAN reaffirmed its commitment to Timor-Leste's inclusion as the 11th member at the 47th ASEAN Summit in October. The decision aligns with the outcome of the 46th ASEAN Summit. A Joint Communique from the 58th ASEAN Foreign Ministers' Meeting on July 9 highlighted support for Timor-Leste's early accession to key economic agreements. 'We look forward to Timor-Leste fulfilling its roles and obligations as an incoming member state and its commitment to upholding ASEAN's fundamental principles,' the statement read. Timor-Leste, Southeast Asia's youngest nation, applied for ASEAN membership in 2011. The country gained independence on May 20, 2002, after years of struggle. Despite delays, Dili has shown strong commitment to meeting ASEAN's membership criteria. In February, Malaysia contributed US$200,000 to the ASEAN Secretariat's Timor-Leste Unit in Jakarta. The funds aim to accelerate the membership process. Malaysia has also provided technical training through the Malaysian Technical Cooperation Programme (MTCP). To date, 319 Timor-Leste officials have received training in various fields under the programme. - Bernama
The Star
3 hours ago
- The Star
Indonesia's gas subsidy cut could slash industrial output, trigger layoffs: Industry Ministry
JAKARTA: Industry Ministry spokesperson Febri Hendri Antoni Arief said the ministry had received a flood of complaints from private companies reliant on the government's fixed natural gas price (HGBT) programme. According to him, supply disruptions and steep surcharges, such as state gas company PGN's tariff of US$16.77 per mmbtu, are squeezing manufacturers, particularly in energy-intensive sectors like ceramics, glass, steel, fertiliser, petrochemicals and oleochemicals. 'Energy costs make up a significant share of production expenses in these industries. Any increase in prices or cuts in HGBT supply erode margins, lower factory utilisation and, in the long run, deter investment, especially in energy-intensive manufacturing,' Febri said in a statement on Thursday (Aug 14). He added that this appears to be a recurring problem, despite the existence of a presidential decree that fixes the price and ensures supply continuity. 'No party or institution should attempt to override the President's order by raising the price above $6.5 or restricting the supply,' he noted. Indonesia's industrial gas demand is estimated at 2,700 million standard cubic feet per day (mmscfd), but the available HGBT supply is only 1,600 mmscfd, with about half, roughly 900 mmscfd, allocated to state-owned enterprise (SOE) consumers. He noted that SOEs such as PLN and Pupuk Indonesia have been the largest HGBT beneficiaries. 'Private manufacturers, the backbone of the national industrial base, are often treated differently. This imbalance risks undermining the business climate,' he said. 'If the private sector's share continues to shrink, the consequences will be immediate: reduced capacity, lower efficiency and potentially mass layoffs.' According to the ministry, 134,794 industrial workers rely on a stable HGBT supply. If volumes fall to just 48 percent of demand, a significant share of these jobs could be lost. The sectoral breakdown of workers at risk includes: fertiliser (10,420), petrochemicals (23,006), oleochemicals (12,288), steel (31,434), ceramics (43,058), glass (12,928) and rubber gloves (1,660). 'These figures are a serious alarm. Every gas policy must weigh its impact on industrial sustainability and the livelihoods it supports,' Febri said. Ministry data shows several sectors are already facing declining utilisation due to gas constraints. The national ceramics industry, for example, averaged 70 to 71 percent utilisation in the first half of 2025. 'If supply disruptions persist, even critical sectors like fertiliser, which supports President Prabowo's food self-sufficiency programme, could see output decline,' Febri warned. Previously, Indonesian Ceramics Association (Asaki) chairman Edy Suyanto said the ceramic industry in West Java is now limited to 48 percent of its HGBT gas allocation, down from the previous 60 percent set by PGN. In eastern regions, the cap is 40 percent. 'From August 13 to August 31, only 48 percent of the HGBT gas volume can be used, while the remainder will incur a surcharge of US$14.8 per mmbtu due to force majeure,' Suyanto said on Wednesday, as reported by Bisnis. He urged the government to resolve the disruption by ensuring adequate HGBT quotas. The industry is also grappling with a surge in low-priced ceramic imports, which is putting additional pressure on domestic production. - The Jakarta Post/ANN
