KL is ranked 11th emerging startup ecosystem in the world with a value of USD15b

MDEC CEO Surina Shukri

According to the Global Startup Ecosystem Report 2020 (GSER2020) by Startup Genome,  Kuala Lumpur ranked top 10 emerging ecosystem in performance and top 20 emerging ecosystem in talent.

The research findings are based on data from 1 million companies across 150+ cities worldwide. Earlier this year, the Malaysia Digital Economy Corporation (MDEC) partnered Startup Genome to benchmark Kuala Lumpur’s performance against more than 250 ecosystems globally.

Furthermore, the report also positioned Kuala Lumpur as an ideal locale for startups, citing low costs, high quality of living and talent, fast-tracked visas and robust government support as prime reasons for entrepreneurs to either start or move their businesses to Malaysia.

Surina Shukri, chief executive officer of MDEC, attributed the positive rankings of Kuala Lumpur to the entrepreneurial vigour of local startup founders and the astuteness of the ecosystem players, which are aptly positioning Malaysia as the Heart of Digital ASEAN.

“We will not rest on our laurels and will remain steadfast in propelling Malaysia’s startup ecosystem to attain global recognition in the economic epicentres of every continent,” Surina said.

The GSER 2020 also provides guidance to public and private leaders on how to foster thriving startup ecosystems, particularly on how governments worldwide can support and leverage tech ecosystems to restart stalling economies recovering from the Covid-19 lockdowns.

“This is the time for policymakers, community leaders and foundations to double their support on local startups — the #1 engine of job creation and economic growth,” said JF Gauthier, founder and chief executive officer of Startup Genome.

The Global Startup Ecosystem Report is the foundation of global knowledge where we, as a network, come together to identify what policies actually produce economic impact and in what context.”

To find out how the entrepreneurial ecosystems across the world stack up, view the full report here: https://startupgenome.com/report/gser2020

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