Cradle steers start-ups through MYStartup platform

by NURUL SUHAIDI / pic by MUHD AMIN NAHARUL

IN BUILDING the Malaysian start-up network ecosystem, Cradle has been mandated as a focal point to manage and support local start-ups through the Malaysian Start-up Ecosystem Roadmap (Super) and the MYstartup Digital Platform.

Super is the Science, Technology and Innovation Ministry’s (Mosti) strategy to create a vibrant national start-up ecosystem, with one of its key objectives is to elevate Malaysia’s start-up environment to the top 20 in the world by 2030.

The MYStartup platform, on the other hand, is a platform for digital information which provides a full set of services to help start-ups expand and improve their competitiveness within the ecosystem network.

Launched by Mosti yesterday, the platform is expected to benefit more than 1,000 start-up ecosystem stakeholders in its first year.

Minister Datuk Seri Dr Adham Baba said the ministry has allocated RM20 million to Cradle Fund Sdn Bhd (Cradle) to steer the programme.

“The initiative will open more doors and expand the start-up network for a robust and swift post-pandemic recovery,” he said.

Dr Adham added that Super acts as the true north of all other national policies and guidelines on start-ups, while the MYStartup platform is one of the 16 interventions identified under Super’s five Ecosystem Drivers.

“MYStartup will enable a unification of various players for an intensified high impact collaboration to support and leverage the start-ups’ opportunity to grow globally,” he said.

Among the various initiatives and programmes that will be shared on the platform are funding, bootcamps, accelerator programmes, hackathon, coaching and training courses.

Meanwhile, Cradle Fund group CEO Rafiza Ghazali said the local start-ups, regardless of industry, will be able to catalyse their operation through the platform as Cradle acts as a one-stop centre for start-ups and stakeholders.

The comprehensive guide covers from the start-up building phase until the growth stage, enabling start-ups to improve their competitiveness.

She added that the platform also offers continuous assistance and guidance to assist start-ups to have world-class investment value through the involvement of various stakeholders.

Citing a report from Deal Street Asia published in October 2021, she said the start-up investments in South-East Asia (SEA) are expected to increase to US$20 billion (RM83.60 billion) for 2021 compared to US$8.5 billion in 2020.

“Through this report, we can see that investors are confident in the start-up economies in the SEA.

“The common challenge when it comes to investing in start-ups is that investors find it hard to get the company data and financial performance which lowers the chances of them investing.

“Realising this, MYStartup will serve both entrepreneurs as well as investors through comprehensive company data access to help them retain the right information which will help them to invest confidently,” Rafiza said at the launch.

Cradle reaffirmed its commitment to amplify and create more value for start-ups in accordance with its mission to promote a holistic start-up ecosystem and encourage more participation of new start-ups in the country.

“We will also be working with various other players and related agencies to improve and build a larger ecosystem.

“Moving forward, we are optimistic that start-ups will continue to evolve and we hope the MYStartup platform will strengthen their network space,” she added.

Start-ups, investors, industry players and ecosystem builders can register on the MYStartup platform at www.mystartup.gov.my for more info.