Mosti aims to create over 5,000 homegrown start-ups by 2030 

by NURUL SUHAIDI / pic source: Chang’s Facebook

THE Science, Technology and Innovation Ministry (Mosti) through Cradle Fund Sdn Bhd aims to create over 5,000 start-ups by 2030 and expand its MYStartup NXT roadshow initiative nationwide.

Minister Chang Lih Kang (picture) said this is part of the effort to cultivate innovation and to narrow the gap between the start-ups in Klang Valley and other parts of the country. 

“There is a misconception that start-ups are still centred in the Klang Valley, therefore it is our responsibility to showcase them by working with various state governments,” he said during the launch of MYStartup NXT on May 9. 

To date, Kuala Lumpur is one of the top 25 emerging ecosystems globally. 

Chang emphasised that the government is ready to support homegrown tech start-ups via creating more incubators and accelerators in other states.

“We also need to consolidate the existing agencies and create new ones with clear tasks,” he added. 

Meanwhile, Cradle’s Ecosystem Development senior VP Ahmad Kashfi Alwi said MYStartup NXT series will be extended to other states starting with Sarawak, Penang and will finally conclude in Sabah. 

“This is to enable them to grow the country’s start-up ecosystem equally and ensure that every local start-up community can flourish and scale at a competitive level,” he said. 

MYStartup also introduced MYStartup Dev, a data-centric, community-driven platform exclusively designed to connect tech talents with talent development partners and upskilling programmes. 

The event also saw the launch of MYStartup Annual Report, which highlights the organisation’s achievements and impacts on the country’s start-up ecosystem in its first year. 

Cradle also exchanged a memorandum between corporate partners Maxis Broadband Sdn Bhd, Cyberview Sdn Bhd, AirAsia Academy and Petroliam Nasional Bhd (Petronas) to strengthen their partnership in nurturing start-ups.