US-Funded GIST Initiative Set To Boost Start-Ups In Malaysia

KUALA LUMPUR, Sept 7 (Bernama) -- The United States (US)-funded Global Innovation through Science and Technology (GIST) initiative is set to boost Malaysia’s start-up landscape by empowering scientists, researchers, and early-stage entrepreneurs in the country.

GIST Country Lead for Malaysia, Murali Prasad Y Vandayar expressed his appreciation for the US government’s commitment in nurturing talent across Association of South East Asian Nations (ASEAN) member states, particularly in Malaysia.

“The US government continues to play an important role in empowering scientists, researchers, and early-stage entrepreneurs in Malaysia.

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“Through initiatives like GIST, the US-ASEAN Science, Technology and Innovation Cooperation (STIC) and the US-ASEAN Smart City Partnership (USASCP), we are able to encourage greater wealth distribution and inclusive entrepreneurship,” Murali said in a statement today after returning from the US-ASEAN Second Annual Symposium in Vientiane, Laos.

Murali said the GIST initiative was also in tandem with Prime Minister Datuk Seri Anwar Ibrahim’s recent announcement of equitable economic restructuring under the MADANI Economy initiative.

GIST, with support from the US Embassy in Kuala Lumpur, has been empowered Malaysian scientists, researchers, entrepreneurs and angel investors through regional and global start-up training, incubation, and pitch competitions since 2018.

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Globally, the initiative has mentored over 15,000 start-ups since its inception in 2011. In 2023 alone, it supported 435 founders and innovators, awarding nearly RM4 million in funding worldwide.

GIST recently launched the #LunchNotes programme at Courtyard KL South in collaboration with #AngelsInScience and UM Alumni Angels, aimed at inspiring University of Malaya graduates to build global start-ups from Malaysia.

“We hope #LunchNotes will motivate graduates, particularly those from low and middle-income, non-entrepreneurial family backgrounds, to learn from successful individuals and access the resources and mentorship needed to participate in the world’s largest start-up economy,” Murali said.

The GIST initiative strives to provide free access to resources and mentorship for underrepresented groups in Malaysia, ensuring that individuals from diverse backgrounds, including women, minorities, and low-income families, can participate in the science and technology entrepreneurial ecosystem.

-- BERNAMA