KUALA LUMPUR, Aug 12 — The government, through the Science, Technology and Innovation Ministry, has implemented various initiatives to support local startups and foster an environment conducive to their growth, said Prime Minister Datuk Seri Anwar Ibrahim.
He said they included financing facilities, advisory services and market access.
As a result, Kuala Lumpur is ranked among the top 30 emerging ecosystems globally in the Global Startup Ecosystem Report (GSER) 2024, he said.
According to the GSER 2024, Kuala Lumpur’s startup ecosystem has generated a value of more than RM220 billion from July 1, 2021, to December 31, 2023.
“According to the Global Innovation Index 2023 Report, Malaysia maintains its ranking at 36th position among 132 economies, with an improved score of 40.9 compared with 38.7 in 2022.
“This makes Malaysia the second most innovative country after China among the 36 upper-middle income countries,” Anwar said when officiating the Malaysian Commercialisation Year Summit here today.
At the Asean level, Anwar said, Malaysia remains in second place through initiatives implemented by the Malaysian Research Accelerator for Technology and Innovation, especially the National Technology and Innovation Sandbox.
He said the sandbox has successfully commercialised 32 products or solutions by generating sales of RM88.4 million, building 13 sandbox sites and establishing 62 Innovation Acceleration Network partners within three years of its introduction.
— Bernama
