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KL ranks among top 30 in global startup ecosystem rankings, generating value of over RM220b, says PM Anwar
KUALA LUMPUR, Aug 12 — Prime Minister Datuk Seri Anwar Ibrahim today said the government through the Ministry of Science, Technology, and Innovation (Mosti) has implemented various initiatives to support local startups which include financing facilities, advisory services, market access, and other related support.
He said as a result, Kuala Lumpur has been ranked among the top 30 emerging ecosystems in the Global Startup Ecosystem Report (GSER) 2024.
“According to the GSER 2024, from July 1, 2021, to December 31, 2023, Kuala Lumpur’s startup ecosystem generated an ecosystem value exceeding RM220 billion (US$47 billion),” he said during his speech when officiating Malaysia Commercialisation Summit 2024 here today.
He then went on to say that according to the global startup ecosystem report, Malaysia’s progress represents a promising start.
However, he noted that a comparison with the initiatives and successes of other countries reveals there is still considerable room for improvement.
“According to the global startup ecosystem report, this is a good start. However, when we examine what other countries are doing and their initiatives for achieving success, it becomes clear that there is still much room for improvement in Malaysia.
“This issue is also related to how we reach our goals,” he added.
He also said scientists and researchers should look not only within the national context but also among neighbouring countries.
Anwar said it is essential for Malaysia to consistently monitor and assess their achievements over time to ensure continued progress.
