Malaysia has launched the ASEAN Startup Initiative in a bid to support startups, foster a dynamic and interconnected innovation ecosystem across the region, its Science, Technology and Innovation Minister announced on Thursday.

“I am delighted to announce the launch of the ASEAN Startup Initiative, a significant milestone in fostering a dynamic and interconnected innovation ecosystem across the region,” Chang Lih Kang wrote in a Linkedin post.

Spearheaded by Cradle Fund, an agency under Ministry of Science, Technology and Innovation (MOSTI), this initiative demonstrates ASEAN’s collective commitment to empowering startups, driving entrepreneurship, and enabling cross-border collaborations to tackle regional and global challenges, he said.

As Malaysia prepares to assume the ASEAN Chairmanship in 2025, this initiative aligns perfectly with our vision to position ASEAN as a global hub for innovation and entrepreneurship, Chang noted.

“Malaysia is committed to leveraging our strengths in innovation ecosystems and advancing the goals of the ASEAN Startup Initiative through programs like the National Technology and Innovation Sandbox (NTIS), Malaysia Startup Ecosystem Roadmap (SUPER), and the KL20,” he wrote.

“The ASEAN Startup Initiative will serve as a catalyst for regional partnerships, providing startups access to funding, market opportunities, and shared resources. By fostering collaboration and innovation across ASEAN, we aim to position our region as a leader in addressing global challenges and driving economic growth,” he added.

As Chair of ASEAN next year, Malaysia will continue to champion initiatives that empower startups and entrepreneurs, reflecting our commitment to building a sustainable and inclusive innovation ecosystem.

“Together, we can make ASEAN the leading destination for innovation and entrepreneurial excellence,” he added.

Earlier on Tuesday, the ministry said the initiative highlights Malaysia’s commitment to bolstering the regional startup ecosystem, aligning with the nation’s Priority Economic Deliverables (PEDs) 2025 for Science, Technology, and Innovation (STI).

The initiative focuses on fostering startup-friendly policies, enhancing ecosystem readiness across the ASEAN Member States (AMS), and driving impactful collaborations to create meaningful partnerships and synergies within the region.

The first initiative under the ASEAN Technology Startup Ignite is a platform curated by a task force from all ten (10) ASEAN Member States: Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

The ASEAN Startup Initiative (ASI), was endorsed by the 85th Meeting of the ASEAN Committee on Science, Technology and Innovation (COSTI-85) and the 20th ASEAN Ministerial Meeting on Science, Technology and Innovation (AMMSTI-20) in Siem Reap, Cambodia recently.
Led by Malaysia, the ASEAN Startup Initiative addresses three main areas:

– Increase “startup-friendly” policies to create a conducive environment for startups to thrive,
– Enhance ecosystem readiness among ASEAN Member States to ensure a supportive infrastructure for startup growth, and
– Drive collaboration to foster impactful partnerships and synergies within the region.

To foster greater collaboration, innovation, and growth among startups in the region. With Malaysia taking the chairmanship in 2025, Cradle, as the implementation agency under the Ministry of Science, Technology and Innovation (MOSTI), is set to pave the way for a thriving startup ecosystem in ASEAN, information from Startup ASEAN website showed.

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