When it comes to startups, Malaysia is a very unique country in this regard. Malaysia has a very healthy startup ecosystem and it has great supports from the country’s government as well as the various private sectors. This has led to the success of quite a few startup business. In fact seven out of ten huge tech IPOs has come out of this country in the last several years. When compared to countries like Singapore, the entrepreneur ecosystem is still in the starting phases in Kuala Lumpur.
Singapore has a more mature ecosystem with well-established individuals and groups to boost this ecosystem. There are enough funding opportunities and government agencies aiding the startups. Malaysia too has built its own Innovative startup ecosystem. If you are in Singapore, you can go from Singapore to Kuala Lumpur, to know more about the startup scene in Malaysia. You can easily find cheap emirates online booking options.
Nonetheless, let us now see how Kuala Lumpur can just be the next Entrepreneur hub.
Kuala Lumpur as the Next Startup Hub
The startup scene in Malaysia is still in its developing phases, but it has improved significantly over the years. Malaysia can very well be the next entrepreneurs’ hub. If you have researched well, you will notice that the number of companies that went into IPO in Malaysia is the largest compared to the other countries in the region.
The startup ecosystem in Malaysia has matured a lot over the years. It is mostly due to the boost from the Malaysian Global Innovation and Creativity Centre or MaGIC and other government agencies, which has helped create an awareness about entrepreneurship and creating startups. The Malaysian government has started many such agencies to bring forth the innovation and creativity in the country, with the focus predominantly set on the Asian market.
In the present day, a large amount of support is coming into the startup ecosystem and it is definitely seeing a lot of momentum as compared to the past few years. Even though the startup system being relatively young, a lot of activity is recently being seen in the startup market and if this momentum continues, Kuala Lumpur in Malaysia can very well be the next big entrepreneur hub.
Kuala Lumpur leading Malaysia in startups
Among the Southeast Asians nations, Singapore has been the most advanced in startup space and many startups in Malaysia, in their later stage of funding, go to Singapore too. Kuala Lumpur in Malaysia is the city where the most of startup action can be seen. In fact ninety to ninety five percent of the startup activities is seen in Kuala Lumpur.
It houses most of the startups in Malaysia and slowly it is gaining the reputation as a viable option to initiate startup businesses and companies. If you research through the past few decades, a lot of startup companies have mushroomed from Kuala Lumpur. Kuala Lumpur is a free trade zone and so it serves as a pretty good set up for beginning a startup company.
Kuala Lumpur is the biggest city in Malaysia and it also has the most developed and advanced technical infrastructure as well as the talent pool, which can support the startup ecosystem.
Keeping in mind all these factors, it can rightly be assumed that Kuala Lumpur is growing to become the upcoming entrepreneur hub in South East Asia.