MOSTI launches MyStartup Single Window for a sustainable, inclusive start-up ecosystem  

Powered by AI, the one-stop platform will connects all parties interested in the start-up ecosystem

by NURUL NAJMIN ABU BAKAR / pic MUHD AMIN NAHARUL

THE Science, Technology and Innovation Ministry (MOSTI) and its agency, Cradle Fund Sdn Bhd, have launched the MyStartup platform as a Single Window for Malaysia’s start-up ecosystem.

Its minister Chang Lih Kang (picture) said this is the government’s effort to navigate the start-up landscape in Malaysia and encourage a scalable, inclusive and sustainable ecosystem.

Powered by artificial intelligence (AI), it will function as a one-stop platform that connects all parties interested in the start-up ecosystem in the country. 

MyStartup Single Window is designed to foster collaboration, innovation and global reach, offering organised information to founders, investors and tech talent such as information sources on the development of start-ups. 

“It also provides a comprehensive database of all Malaysian start-ups and venture capital (VC) firms, containing important information about funding, business details and active fundraising status updated regularly,” Chang said during the launching of the platform at the KL20 2024 Summit today.

He added that the ecosystem will continue to grow with nearly 4,000 start-ups that are the heart of innovation with an overall assessment currently exceeding US$5 billion (RM23.9 billion).

“Therefore, the launch of the platform is an important foundation in strategic planning to push Malaysia forward and make this country one of the best startup ecosystems in the world,” he said.

In 2021, MOSTI launched the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030 to promote Malaysia as one of the world’s best start-up ecosystems by 2030, targeting 5,000 competitive start-ups by 2025.

“MyStartup has fostered good growth. Total capital accumulated from 2019 to 2024 is as much as US$1.6 billion, with 438 agreements being made,” Chang said.