KUALA LUMPUR, Oct 30 — Budget 2022 has been “pretty compelling” for the startup ecosystem as it addresses nascent stage innovation, deep technology development, and startup creation, according to ScaleUp Malaysia Accelerator.
Its co-founder and general partner Aaron Sarma said the next year’s budget not only provides more opportunities for startups but also builds on the good work being done by the Ministry of Science, Technology & Innovation (Mosti) to develop new startups and focus on new 4IR industries.
“The key over the next few months is to focus on the execution of this plan. While it’s encouraging to announce these initiatives, what’s important is that they quickly materialise and reach the recipients,” he said in a statement today.
He also said Malaysia still has a long way to get to the 5,000 new startups target set by the Malaysian Digital Economy Blueprint, hence he hopes that the government could play a larger role in making early bets that could become the next Grab, Aerodyne, or Carsome.
“I hope that the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030 will address this,” said Aaron who is also co-founder of Remote Ventures.
On research and development (R&D), Aaron said the allocation of RM43 million under Mosti and the Ministry of Higher Education to intensify R&D activities will help the nation discover and uncover new innovations.
“Ideally, I hope to see collaborations with private universities and colleges as well. As a nation we should be dedicated to finding the most innovative ideas and applications, no matter where we find them,” he added. — Bernama
