Malaysia is positioning itself at the forefront of Southeast Asia’s exciting start-up ecosystem. The country’s vision is to become a regional hub for high-performing start-ups.
A report published in 2021 by Startup Genome and the Global Entrepreneurship Network ranked Kuala Lumpur ninth globally in Ecosystem Value with an estimated value of US$16.1 billion. Fintech has been a leading sector in the country’s growing ensemble of start-ups, and it does not look to be slowing down any time soon.
Key to Malaysia’s leading role in the region include:
- Malaysia’s young population - almost 40% of the country’s population is under 25, with more than 330,000 students enrolled for tertiary education - spurring a thriving environment for talent acquisition.
- The country’s emphasis and focus on the digital economy. The Malaysia Digital Economy Corporation (MDEC) is the government agency leading the digital transformation of the Malaysian economy and aims to attract US$12 billion in investment to Malaysia’s digital economy by 2025.
- Healthy assistance and support for new players and start-ups, helping businesses gain access to markets, know-how and funding, as well as fast-tracking applications for tech companies to base themselves in Malaysia.