KUALA LUMPUR: Science, Technology and Innovation Minister Chang Lih Kang revealed that 41,696 applications have been received under the KL20 Action Plan across its 12 key initiatives.
The initiatives have benefited 40,751 recipients as of June 30 this year.
Minister Chang reported that the MyStartup single window portal has registered 4,464 active startups.
This reflects strong interest and overwhelming response to the initiatives introduced under the plan.
He announced that Kuala Lumpur climbed to 18th position on the Emerging Startups Ecosystems list published by Startup Genome this year.
This represents significant improvement from the 21st to 30th bracket position in 2024.
Chang made these statements during the question-and-answer session in the Dewan Rakyat today.
He was responding to Tan Kar Hing from PH-Gopeng, who inquired about the KL20 Action Plan’s progress.
The question also addressed the ministry’s efforts to position Malaysia as a competitive startup hub in ASEAN.
In reply to a supplementary question about allegations that the initiative mainly benefits foreign companies, Chang dismissed the claim.
“KL20 is not merely an initiative to attract foreign startups, talents or investors into the country,“ he clarified.
The minister emphasized that the plan also aims to strengthen the local startup ecosystem at the global level.
Chang confirmed that the Science, Technology and Innovation Ministry and Cradle Fund Sdn Bhd will continue enhancing the local startup ecosystem.
These efforts will continue even after Malaysia’s chairmanship of ASEAN ends.
The ongoing initiatives include the establishment of a Centre of Excellence.
Enhancement of regional platforms is also part of the plan.
ASEAN market access focused on Malaysia represents another key component.
Programme mapping and coordination complete the comprehensive approach to strengthening Malaysia’s startup ecosystem. - Bernama
