Brush aside same old and outdated excuses over why it cannot be done and trust Collaborate with other ministers to make the country shine as a digital nation GobidMalaysia’s Minister of Digital, Gobind Singh, spoke at the 5th DisruptInvest Summit on 23 May where he highlighted the government's commitment to support and help grow a strong startup...
By Karamjit Singh June 3, 2024Collaborate with other ministers to make the country shine as a digital nationDisruptInvest Summit on 23 May where he highlighted the government's commitment to support and help grow a strong startup ecosystem through various initiatives, with the launch of the inaugural KL20 summit in April designed to help spotlight Malaysia’s startup ecosystem to international VCs, as the latest signal of this intent.
But two decades later, the question must be taken seriously. Because, today, just as back then, the government aspires for Malaysian tech companies and its startups to be regional if not, global players. But if we still do not show confidence in our homegrown tech founders and their companies today, where some have crossed RM400 million in revenue, then stop aspiring for such bold targets, because actions reveal true intent.
Let’s see if Gobind, whose appointment as minister was well greeted by the tech ecosystem, leads the way.Gobind who also spoke at KL20, described capital as a catalyst to fuel KL20’s ambition, empowering innovators to push boundaries, challenge the status quo. “The world of tomorrow will be built on the investments of today,” he said.
For instance, he noted the 279% jump in digital economy investments the country enjoyed in the first half of 2023, translating to RM28.4 billion. And, without giving the time frame, he shared that almost 70% of Malaysia’s RM225 billion approved investments are in the digital economy. One international collaboration Gobind spoke of is with leading pre-accelerator, Draper University that announced in March that it will set up a base in Kuala Lumpur- its first campus outside of Silicon Valley. “Such a move is vital in supporting and spearheading the pipeline of VCs, and startups looking to enter and expand in Malaysia,” said Gobind.
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