Mosti launches Malaysian Startup Ecosystem roadmap

The Ministry of Science, Technology and Innovation (Mosti) is targetting to build a conducive startup ecosystem with the launch of the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030 and the MYStartup platform.

In a statement, Mosti said SUPER is a plan to develop a dynamic national startup ecosystem and in line with Vision 2030.

MYStartup is a digital information resource portal that provides comprehensive facilitation services for startup ecosystem networks, it said.

Most said SUPER is designed to increase the nation’s gross domestic product (GDP) and is expected to contribute to high-value job creation as well as expanding deep technology investments by 2030.

The development of SUPER has taken into account feedback from over 300 startup ecosystem stakeholders, it said.

Mosti said SUPER is for all including government, investors as well as innovators to achieve the ultimate goal of placing Malaysia as one of the Top 20 global startup ecosystems.

Meanwhile, the MYStartup platform is a national digital portal of information resources aimed at helping ecosystem players navigate the startup ecosystem and drive local innovation, Mosti said.

It will also assist and guide developing startups that have world class investment value.

Mosti minister Adham Baba, said, “We are opening more doors and expanding the network for a robust and swift recovery for our country’s economy post Covid-19.

“SUPER acts as the true north of all other national policies and guidelines on startup. This roadmap is aligned with others National Policy on Science, Technology and Innovation (DSTIN), National Entrepreneurship Policy 2030 and National 4IR policy.”

He said that at the ecosystem level, MYStartup unifies various players and creates collaborations so that we do not work in silos.

Through this national platform, high-impact collaboration will be intensified together with the ongoing support and guidance services to develop startups that can grow, he added.

MYStartup is one of the 16 interventions identified under five Ecosystem Drivers in SUPER. According to the Budget 2022 announcement last month, US$4.7 million (RM20million) was allocated to Cradle Fund Sdn Bhd (Cradle).

“Cradle, an agency under MOSTI, has been mandated as a focal point in managing the development of startups in the ecosystem. SUPER will drive the startup industry by creating 5,000 startups and setting a target of achieving five unicorn status companies by 2025," said Adham.

The MYStartup portal is expected to benefit more than 1,000 startup ecosystem stakeholders in its first year through the initiatives and programmes that will be shared on the platform such as funding, bootcamp programmes, accelerator programmes, hackathon, coaching and training courses.

Startups, investors, industry players and ecosystem builders are encouraged to register on the MYStartup platform at here to gain access to insights and resources on the Malaysian startup ecosystem. The roadmap can be downloaded here.