KL ranks top 30 in global startup ecosystem rankings, says PM Anwar

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Prime minister Anwar Ibrahim reportedly said that Kuala Lumpur’s startup ecosystem has generated an ecosystem value exceeding RM220 billion (SG$296.7 million). The city has also reportedly ranked top 30 in global startup ecosystem rankings.

This is according to the Global Startup Ecosystem Report (GSER) 2024, reported Malay Mail.

Following which, prime minister Anwar Ibrahim said that the government, through the ministry of science, technology and innovation (Mosti), has implemented various initiatives to support local startups.

Don't miss: Malaysia's digital economy soars with RM66.22 billion investment

This includes financing facilities, advisory services, market access and others related to diversifying the attraction besides supporting the nation's development needs.

The minister said this when officiating Malaysia Commercialisation Summit 2024 in Malaysia on Monday (12 August).

During his speech, Anwar reportedly said that Malaysia's progress represents a promising start but notes that there is still room for improvement when compared to other successful countries.

He reportedly said that scientists and researchers should look not only within the national context, but also among neighboring countries too.

Anwar reportedly added that it is essential for Malaysia to consistently monitor and assess their achievements over time to ensure continued progress.

In tandem, he added that Malaysia will be left behind as compared to other countries if it is still busy improving old achievements, and not tapping into the new world of innovative technology involving artificial intelligence and digitalisation.

Earlier in April this year, PM Anwar said that Malaysia aims to be among the top 20 countries in the global startup ecosystem index by 2030. Kuala Lumpur will also be turned into a regional startup and digital hub, he added.

The minister also stressed that the Malaysian government is determined to support startups through clear policies that encompasses the country's visions, strength of resources and investor perspectives.

Photo courtesy Anwar Ibrahim, Facebook.

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