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The Malaysian government is making a firm commitment to enhance the startup ecosystem here with the KL20 Summit 2024, set to take place on the 22nd and 23rd of April 2024 at the Kuala Lumpur Convention Centre.

The Summit was announced at a recently held press conference, which was 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 in ensuring 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 startup 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 startup tech sector to new heights.

In order to achieve that, KL20 looks towards making Malaysia a choice destination for global top talents and high-potential, scalable start-ups by creating an enabling business environment.

From L-R : YB Dato’ Haji Mohammad Yusof Apdal, Deputy Minister of Science, Technology and Innovation, YB Rafizi Ramli, Minister of Economy, YB Chang Lih Kang, Minister of Science, YB Dato Hajjah Hanifah Hajar Taib

An Impressive Lineup of Guests at the KL20 Summit 2024

The KL20 Summit 2024 will gather an impressive lineup of speakers and panellists, including industry pioneers such as Jenny Lee, Managing Partner at GGV; Géraldine Andrieux Gustin, Founder of and CEO at DeepTech and The Hive; and Dr Qi Bin, Executive Vice President and Deputy Chief Investment Officer at China Investment Corporation.

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.

“The KL20 Summit 2024 stands as a beacon of Malaysia’s commitment to fostering a thriving startup ecosystem in the region. In this hub of opportunity, we offer the chance to find your ideal strategic connections—to unlock potential and investments and generate growth for years to come. Kuala Lumpur offers a strategic advantage for startups, with its central location in ASEAN, robust economic ties, diverse talent pool and competitive cost of living,” said Minister of Economy Mohd Rafizi Ramli.

More to Look Forward To

Attendees at the KL20 Summit 2024 can look forward to insights into regulatory opportunities and incentives, along with networking sessions designed to connect startups 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 also highlight Malaysia’s potential as a conducive environment for startups, particularly in key sectors such as manufacturing and automation, agritech, cleantech, and Islamic finance.

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

By fostering innovation, collaboration, and investment, Malaysia aims to not only become a top 20 global startup ecosystem by 2030 but also to 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.

For more information, log on to https://www.kl20.gov.my/.

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