Startup Industry To Stimulate Economic Growth: Rafiza Ghazali

Rafiza Ghazali
Rafiza Ghazali

Rafiza Ghazali, CEO of Cradle Fund, says the fund is currently working to increase the number of startups since this will help to stimulate economic growth. As a result, she is encouraging more businesses to enter the startup sector.

“A startup ecosystem can be robust if there are many startups, instead of a small group of startups, and if we look at the top startup ecosystems it has a lot of volumes, and that’s what we’re currently building.

“Various support is now available (for startups) everywhere.” As an outcome, she says, “we want to build a lot of startups.”

On the other hand, she says there are already a couple of startups that may become unicorns soon when asked whether Malaysia can produce more unicorns.

“I cannot name any particular startups, but I can give you some hint, there are startups in the drones segment that can be a potential.”

“We have two startups in the global top five, we have Aerodyne and Terra Drone, as well as startups that are already operating in Indonesia and Singapore and are looking to expand globally.”

Cradle, a MOSTI agency, has been designated as the focal point for managing the ecosystem’s startup development.

According to Rafiza, the digital platform vision is to create a one-stop shop for aspiring startups in the hope of making the startup industry more efficient.

“Previously, there were a few agencies that provided services to startups, but now we see a lot of state governments and private agencies providing services, so we want to make it easier (for startups) by putting them all in one portal.”

She also provides an example, saying, “Let’s say someone from another state is interested in learning more about Malaysia’s economy and startups.

“They all require data and information about startups from a variety of sources. As a result, we’d like to make it easier for them to conduct business. We want to encourage more diverse services to be available on one platform.”

On the other hand, the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030 and MYStartup Digital Platform was launched by the Ministry of Science, Technology, and Innovation (MOSTI) on November 18, 2021.

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