The Malaysian Government is making a firm commitment to enhance the start-up ecosystem in Kuala Lumpur with the KL20 Summit 2024.
Spearheaded by the Ministry of Economy, the summit 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 start-up hubs by 2030.
The event, set to take place on 22 to 23 April 2024 at the Kuala Lumpur Convention Centre, 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 start-up tech sector to new heights.
In order to achieve this aim, KL20 looks towards making Malaysia a choice destination for global top talents and high-potential, scalable start-ups by creating an enabling business environment.
The Summit was announced at a press conference today (Mar 27), 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 will gather an impressive line-up of speakers and panellists, including industry pioneers such as Jenny Lee, Managing Partner at GGV; Géraldine Andrieux Gustin, Founder and CEO of DeepTech and The Hive; and Dr Qi Bin, Executive Vice President and Deputy Chief Investment Officer of China Investment Corporation; amongst others, who 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.
Minister of Economy Rafizi Ramli said: “The KL20 Summit 2024 stands as a beacon of Malaysia’s commitment to fostering a thriving start-up 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 start-ups, with its central location in ASEAN, robust economic ties, diverse talent pool and competitive cost of living.”
Attendees at the KL20 Summit 2024 can look forward to insights into regulatory opportunities and incentives, along with networking sessions designed to connect start-ups 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 highlight Malaysia’s potential as a conducive environment for start-ups, particularly in key sectors such as manufacturing and automation, agritech, cleantech and Islamic finance.
In addition to the short-term objectives of attracting new start-ups 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.
The KL20 Summit 2024 is supported by CGS International, Bloomberg, K3 Ventures and Founders Forum Group.
