PETALING JAYA: The Ministry of Finance (MoF), in collaboration with the Ministry of Science, Technology, and Innovation (Mosti) and Cradle Fund Sdn Bhd), today launched the Bengkel Inovasi GLC (BIG), a transformative programme aimed at driving innovation across all government-linked companies.
With a RM15 million allocation under Budget 2025, this initiative represents a strategic step in advancing Malaysia’s economic reform agenda to “Raise the Ceiling” under the GEAR-uP initiative, in alignment with the Madani Economy framework.
GEAR-uP is a national initiative that unites government-linked entities to drive growth in key economic sectors, supporting Malaysia’s structural reforms under the Madani Economy.
In its first phase, six leading GLICs pledged RM120 billion in domestic direct investments over five years, focusing on high-growth, high-value industries such as energy transition, advanced manufacturing and technology ventures. These investments aim to build new economic ecosystems, enhance nation-building, and uplift both Malaysia’s economic stature and the rakyat’s quality of life.
BIG is designed to empower GLCs by fostering collaboration with startups, accelerating the adoption of cutting-edge technologies, and strengthening Malaysia’s economic competitiveness. By bridging the gap between corporate players and the startup ecosystem, the programme supports the nation’s aspiration to become one of the top 20 global startup ecosystems by 2030 while generating high-value jobs and sustainable growth.
Minister of Finance II Datuk Seri Amir Hamzah Azizan said that BIG is aimed at cultivating an ecosystem where innovation fuels economic transformation.
“This is another strategic growth lever that complements ongoing initiatives to catalyse domestic market growth and raise the ceiling under the Madani Economy framework. By enabling greater synergy between GLCs, investors and startups, we aim to drive industry leadership and unlock new growth opportunities. This effort, aligned with our GEAR-uP initiative, underscores the government’s focus on building a future-ready economy.”
To ensure impactful results, the programme will leverage Mosti’s National Technology and Innovation Sandbox (NTIS) and Cradle’s extensive startup ecosystem networks to identify and support high-potential innovation projects.
Mosti secretary-general Datuk Dr Aminuddin Hassim said BIG reflects their unwavering commitment to integrating advanced technologies, fostering entrepreneurial thinking, and creating opportunities for sustainable growth.
“By bridging the gap between GLCs, startups, and innovation leaders, this programme will unlock transformative solutions to address industry challenges, empower local talent, and drive progress in high-growth, high-value industries. In doing this, we hope to elevate Malaysia’s innovation ecosystem, position the nation as a regional hub for cutting-edge ideas, and contribute meaningfully to the broader Madani Economy vision,” he added.
Cradle Group CEO Norman Matthieu Vanhaecke said BIG is designed to foster meaningful collaboration between corporate Malaysia and the startup ecosystem, driving the adoption of groundbreaking technologies and creating new opportunities for economic growth.
