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Economy Minister Rafizi Ramli said Kuala Lumpur was now in the top 47 global rankings .

“ The KL20 Summit 2024 stands as a beacon of Malaysia ’ s commitment to fostering a thriving start-up ecosystem in the region ,” Rafizi said .

To help Malaysia ’ s start-up tech sector reach new levels of success , Prime Minister Datuk Seri Anwar Ibrahim will introduce the KL20 action paper . This paper lays out measures that will bring together important stakeholders .

“ We hope the radical initiatives which we are curating will build the start-up pipeline from three perspectives : the funder , the founder , and the talent ,” Rafizi said at the soft launch of KL20 Summit 2024 at the Parliament Banquet Hall .

“ Our simple message to the world is this : that Malaysia is open for business in ( the ) digital and technology ( sector ),” Rafizi said , adding that Anwar will launch the Summit on April 22-23 at the Kuala Lumpur Convention Centre .

The KL20 event is “ not just talk , or

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a series of document papers ” but is action-oriented to generate a buzz in the regional start-up community .

On venture capitalists , Rafizi said several international venture capital firms have set up offices here , and unicorns

have set up research facilities here .

“ We will be seeing the launch of a growth fund , which by Malaysian standards , is ( of a ) significant ( amount ), more than what we have seen before ,” he said .

Rafizi said there has been a slight pivot in terms of strategy . Instead of focussing on homegrown start-ups and chasing unicorns — a policy of the past — Malaysia wants to attract global start-up founders to come here .

“ By attracting these disruptors into our ecosystem , we want to drive Malaysia up the value chain and demonstrate our ability to compete with the very best ,” Rafizi said .

“ Whether you are a founder from Kuala Lumpur , Jakarta , Mumbai or Seoul , if you bring or develop your start-up here , at the end of the day , the beneficiaries are Malaysian talents and the Malaysian economy ,” he said .

Over 1,000 participants comprising international investors and start-ups are expected at the KL20 Summit 2024 .

THE Malaysian government is making a firm commitment to enhance the start-up ecosystem here with the KL20 Summit 2024 on Apr 22-23 at the Kuala Lumpur Convention Centre .

The Summit was announced at a Press conference on Mar 27 and attended by six Ministers from the Ministry of Economy , Ministry of Finance , Ministry of Science , Technology and Innovation , Ministry of Home Affairs , Ministry of Digital and Ministry of Investment , Trade and Industry .

The ministers emphasised their collective commitment to interministerial dialogue to ensure a cohesive approach to achieve the KL20 aspirations .

The KL20 Summit 2024 , spearheaded by the Ministry of Economy , is poised to reignite Malaysia ’ s position as a vibrant hub for start-ups and venture capitalists and lift Kuala Lumpur into the ranks of the top 20 global start-up hubs by 2030 .

The event will also see the launch of the KL20 Action Paper , a comprehensive roadmap outlining tangible reforms to achieve convergence among key stakeholders – founders , venture capitalists ,

talent , incubators and accelerators , to propel Malaysia ’ s start-up tech sector to new heights .

To achieve that , KL20 aims to make Malaysia a destination for global top talents and high-potential , scalable start-ups by creating an enabling business environment .

The event will gather an impressive line-up of speakers and panellists , including industry pioneers such as GGV Managing Director Jenny Lee , Founder and CEO of DeepTech and The Hive Géraldine Andrieux Gustin , and Executive Vice President and Deputy Chief Investment Officer of China Investment Corporation Dr Qi Bin .

They will delve into factors shaping the future of entrepreneurship and innovation . With a keen focus on fostering a dynamic start-up ecosystem , the Summit aims to attract start-ups and investors from across the globe , creating a platform for collaboration , investment and growth .

Attendees at the KL20 Summit 2024 can look forward to insights into regulatory opportunities and incentives and

networking sessions designed to connect start-ups with investors and mentors .

Dedicated activities such as investor speed dating , networking lunches and soirées will facilitate meaningful connections and catalyse potential collaborations .

The Summit will highlight Malaysia ’ s potential as a conducive environment for start-ups , particularly in key sectors such as manufacturing and automation , agritech , cleantech and Islamic finance .

In addition to the short-term objectives of attracting new start-ups and investments , the KL20 Summit 2024 is aligned with Malaysia ’ s longer-term vision of becoming a high-income , highvalue economy by 2030 .

By fostering innovation , collaboration and investment , Malaysia aims to become a top 20 global start-up ecosystem by 2030 and position itself as a leading centre for entrepreneurship and innovation in ASEAN by shifting from a low-cost , commoditised industrial base to an economy based on technology . – @ green