Ministry of Communications and Digital needs to be the startup story teller Need for central coordination to help focus efforts for maximum impact [Ed note: The cover picture has been changed from an earlier version.] Funding: Fuel For The Fire After presenting our nine recommendations across the talent and market access areas, we conclude with our recommendations around funding - where the rubber really meets the road.
Ministry of Communications and Digital needs to be the startup story teller[Ed note: The cover picture has been changed from an earlier version.]After presenting our nine recommendations across the talent and market access areas, we conclude with our recommendations around funding - where the rubber really meets the road.If we want our companies to be competitive with their regional counterparts we can’t handicap them and hope they will find success.
This has created a lot of interest and over the last 5 years many people have invested as Angels and this has been great for startups. Cradle Fund is the entity that registers these Angels to qualify for the incentive and also facilitates the claims for the incentive. Credit must be given to MaGIC for a great job they did telling the Malaysian story abroad. Many entrepreneurs and investors we have met abroad know about the Malaysian story through MaGIC. We need to revive this storytelling as this will help Malaysian companies to export our services and solutions to global buyers. MDEC, to their credit, has of late been redoubling their efforts in this regard.
So when we are faced with the harsh reality that Malaysia is lagging behind, it is both perplexing and frustrating. Year after year we hear of how Singapore is the Silicon Valley of ASEAN, Indonesia is the region’s unicorn factory and Vietnam is a phoenix rising. We need to end the days when multiple ministries and agencies are competing for an ever shrinking pie of startups. More often than not acting independently and with similar programs. For founders, investors and ecosystem players this is confusing and counter productive. All this does is dilute the impact of the efforts of the government.There needs to be a central coordinating force to help focus our efforts to gain maximal impact.
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