Malaysia targets 10,000 startups under ASEAN Platform by year-end

The Sun

4 days ago

PUTRAJAYA: Malaysia is targeting to onboard at least 10,000 startups by the end of this year under the newly launched Startup ASEAN platform.
The platform serves as a regional digital gateway to connect and empower startups, investors and talents across Southeast Asia.
Minister of Science, Technology and Innovation (MOSTI), Chang Lih Kang, said the platform currently hosts about 5,000 startups and is showing encouraging progress since becoming fully operational.
'We are targeting at least 10,000 startups by year-end, and we have already reached around half of that.
'This shows promising development, and we hope the platform will help the entire region to grow together. The benefits are not limited to a single country but extend to all ASEAN member states,' he told reporters after officiating the launch of the platform here today.
Malaysia, as the ASEAN chair in 2025, is spearheading the initiative through MOSTI, with implementation by Cradle Fund Sdn Bhd. The platform was developed in collaboration with all 10 ASEAN member states.
In his speech at the launch, Chang said the Startup ASEAN platform reflects Malaysia's commitment to lead with purpose, adding that it represents the first major deliverable under the ASEAN Startup Initiative.
'As chair of ASEAN in 2025, Malaysia has taken on a bold responsibility to shape a future-oriented startup ecosystem. Through this initiative, we are proud to introduce the ASEAN Technology Startup Ignite 2025,' he said.
Chang noted that Southeast Asia is home to more than 680 million people, with over half of the population aged below 35. The region has a combined gross domestic product of more than US$3.9 trillion, while its digital economy is projected to exceed US$1 trillion by 2030 (US$1=RM4.233).
The platform's launch today marks the second phase of a longer regional roadmap. The first phase, completed in 2024, focused on developing the platform and engaging stakeholders.
The third phase, expected in 2026, will see the establishment of the ASEAN Centre of Excellence for early-stage startups to further elevate the region's innovation ecosystem.
Asked how MOSTI will ensure inclusivity for startups in less developed ASEAN member states, Chang said the platform was designed to be borderless and accessible to all.
'This regional platform is one of the ways we can assist startups from less developed countries. As long as you have internet access, you can come on board. Your company can be seen by investors and talent from anywhere in the region. This is how we help increase their visibility and chances of success,' he said.
Tracking Impact and Regional Collaboration
Cradle group chief executive officer Norman Matthieu Vanhaecke said the platform comes with clear performance indicators, including startup participation, investment outcomes, and regional collaboration.
'In 2025, we aim to onboard 10,000 startups, 2,000 investors and 500 strategic partners. We are also planning to run five regional programmes through the platform. These efforts will support an ecosystem valued at around US$131.2 billion,' he said.
Vanhaecke said the platform is not just a database but a regional tool for inclusive impact.
'We will track the number of investments, the emergence of new startups, and collaborations between founders from different countries. Two regional programmes are already in place through our dialogue partners from Korea and China. These are open to all startups across ASEAN,' he said.
Vanhaecke said three more regional programmes will be introduced this year, with more to follow in the future.
'This is just the beginning. With strong participation from ASEAN countries, the platform has the potential to become a key enabler for innovation, growth and cross-border cooperation,' he said.