KUALA LUMPUR, Aug 20 — Approximately 41,696 applications have been received under the KL20 Action Plan across its 12 key initiatives, benefiting 40,751 recipients as of June 30, said Science, Technology, and Innovation Minister Chang Lih Kang.
The MyStartup single window portal has so far registered 4,464 active startups, reflecting strong interest and overwhelming response to the initiatives introduced under the plan.
“This year, Kuala Lumpur climbed to 18th position on the Emerging Startups Ecosystems list published by Startup Genome, compared with the 21st to 30th bracket in 2024,” he said during the question-and-answer session in the Dewan Rakyat today.
Chang was responding to Gopeng MP Tan Kar Hing's query on the progress of the KL20 Action Plan and the ministry’s efforts to position Malaysia as a competitive startup hub in Asean.
In reply to Tan's supplementary question on the allegations that the initiative mainly benefits foreign companies and investors, he dismissed the claim.
“KL20 is not merely an initiative to attract foreign startups, talents, or investors into the country, but also aims to strengthen the local startup ecosystem at the global level,” Chang said.
The Science, Technology, and Innovation Ministry and the plan's implementing agency Cradle Fund Sdn Bhd will continue to enhance the local startup ecosystem through various initiatives, even after Malaysia’s chairmanship of Asean ends.
He said these include establishing a Centre of Excellence, enhancing regional platforms, gaining Asean market access with a focus on Malaysia, as well as programme mapping and coordination.
