The Malaysian Ministry of Science, Technology, and Innovation (Mosti) is joining forces with Bursa Malaysia to assist local startups on their path to securing funding, ultimately advancing innovation in the country.
Minister Chang Lih Kang revealed in a Dewan Rakyat session that Mosti will provide Bursa Malaysia with vital market insights about the local startup ecosystem, enabling the early identification of companies with the potential to be listed on the stock exchange.
This collaborative effort is part of Mosti’s broader initiatives aimed at fulfilling the government’s goal of positioning Malaysia within the top 30 countries in the Global Innovation Index (GII) by 2025, as outlined in the 12th Malaysia Plan (12MP).
Although Malaysia maintained its 36th position in the GII rankings among 132 countries between 2022 and 2023, it recorded an improved GII score of 40.9 compared to the previous score of 38.7. In the ASEAN region, Malaysia remains the second-ranked country, following Singapore, which holds the 7th position.
To further boost Malaysia’s ascent in the GII rankings, the Tanjong Malim MP highlighted additional initiatives, including strengthening innovation commercialisation efforts, developing a National Planet Health Action Plan to address health challenges related to the environment, biodiversity, and climate change, encouraging greater private sector participation in research, development, innovation, and commercialisation, as well as proposing the establishment of a special committee for Science, Technology, and Innovation Talent.
This partnership’s primary objectives are to increase awareness among startups about the funding opportunities available in Malaysia, including those offered through the equity market, and to facilitate the early identification of firms with the potential to be listed on Bursa Malaysia.
The collaboration is an integral part of Mosti’s Fund Funnel program, a comprehensive initiative designed to streamline funding options and provide comprehensive support to startups throughout their funding journey, from the initial seed stage to their eventual initial public offering.