In an effort to assist new businesses and promote a vibrant, linked innovation ecosystem throughout the region, Malaysia’s Minister of Science, Technology, and Innovation announced the formation of the ASEAN Startup Initiative.
“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.
This program, which is led by Cradle Fund, a division of the Ministry of Science, Technology, and Innovation (MOSTI), shows how committed ASEAN is to empowering startups, encouraging entrepreneurship, and facilitating cross-border cooperation to address regional and global issues, he said.
As Malaysia gets ready to take over as ASEAN Chairman in 2025, Chang said, this project is a natural fit with our goal of making ASEAN a global center for innovation and entrepreneurship.
“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.
Malaysia will continue to support programs that empower entrepreneurs and startups as ASEAN Chair next year, demonstrating our dedication to creating an inclusive and sustainable innovation ecosystem.
“Together, we can make ASEAN the leading destination for innovation and entrepreneurial excellence,” he added.
In line with the country’s Priority Economic Deliverables (PEDs) 2025 for Science, Technology, and Innovation (STI), the ministry said earlier on Tuesday that the program demonstrates Malaysia’s dedication to supporting the local startup scene.
The program’s main objectives are to promote startup-friendly legislation, improve ecosystem preparedness across ASEAN Member States (AMS), and stimulate significant partnerships and synergies in the area.
A task force from each of the ten (10) ASEAN Member States—Burnei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam—curated the inaugural initiative under the ASEAN Technology Startup Ignite.
The 20th ASEAN Ministerial Meeting on Science, Technology, and Innovation (AMMSTI-20) and the 85th Meeting of the ASEAN Committee on Science, Technology, and Innovation (COSTI-85) in Siem Reap, Cambodia, recently approved the ASEAN Startup Initiative (ASI).
