kuala lumpurKL’s startup ecosystem has generated more than 220 billion ringgit (US$47 billion) in ecosystem value between July 1, 2021 and Dec 31, 2024, according to Cradle Fund Sdn Bhd (Cradle).
In a statement yesterday, Cradle said Ecosystem Value measures a city’s economic impact through exits and startup valuations.
Cradle is Malaysia’s startup ecosystem agency under the Ministry of Finance and managed by the Ministry of Science, Technology and Innovation (MOSTI).
Kuala Lumpur was also recognised in the latest Global Startup Ecosystem Report (GSER) 2024, ranking among the top 30 emerging ecosystems, reflecting its rapid growth and significant economic impact, the statement said.
Cradle Group CEO Norman Mathieu VanHaecke said these achievements highlight the company’s efforts and strategic initiatives to foster a favourable environment for start-ups.
“Malaysia sees startups as a key force driving local innovation and technological advancement. Cradle aims to bring together the resources and experience of all stakeholders in the ecosystem.”
“Cradle envisions propelling Malaysia to the forefront of the global startup ecosystem with its consistent commitment to fostering a high-performing, inclusive, globalised and sustainable ecosystem,” he said.
According to the GSER 2024 report, the Kuala Lumpur ecosystem has achieved notable rankings in several key areas within Asia, specifically, Top 15 Ecosystems in Asia for Funding, Top 20 Ecosystems in Asia for Performance, and Top 20 Ecosystems in Asia for Talent and Experience.
The statement said the Kuala Lumpur ecosystem was ranked among the top 25 ecosystems in Asia for affordable talent, and among the top 30 ecosystems in Asia for cost-effectiveness and educated talent, citing ease of doing business as a reason why startups should move to the ecosystem.
