KUALA LUMPUR, April 22 — The KL20 Summit 2024, commencing today at the Kuala Lumpur Convention Centre, marks a pivotal moment in Malaysia's journey to be among the top 20 global startup hubs by 2030 and solidifies Malaysia's position as a premier destination for startups and venture capitalists.
The two-day summit will unveil the KL20 action paper to be launched by Prime Minister Datuk Seri Anwar Ibrahim today, a roadmap outlining reforms to achieve convergence among key stakeholders to propel Malaysia’s start-up technology sector to new heights.
One of today's highlights includes the signing ceremony for the Malaysia Semiconductor Accelerator and Integrated Circuit (IC) Design Park: Selangor Hub with partners including ARM Ltd, Phison Malaysia, SkyeChip, and the Shenzhen Semiconductor Industry Association.
This is a key initiative by the Selangor state government and the Selangor Information Technology and Digital Economy Corporation (Sidec) to establish Malaysia as a leader in IC design.
Industry pioneers, namely GGV Capital managing partner Jenny Lee, DeepTech and The Hive founder and chief executive officer Geraldine Andrieux Gustin, and China Investment Corp executive vice-president and deputy chief investment officer Qi Bin, will delve into the factors shaping the future of entrepreneurship and innovation.
The summit will highlight Malaysia's potential as a conducive environment for startups, particularly in key sectors such as manufacturing and automation, agritech (agricultural technology), cleantech (clean technology) and Islamic finance.
Kuala Lumpur offers a strategic advantage for startups, with its central location in Asean, robust economic ties, diverse talent pool and competitive cost of living.
Organised by the Malaysian government and spearheaded by the Ministry of Economy, over 3,000 participants comprising international investors and startups are expected to attend the event.
— Bernama
