41,696 Applications Received Under KL20 Action Plan - Chang

KUALA LUMPUR, Aug 20 (Bernama) -- A total of 41,696 applications have been received under the KL20 Action Plan across its 12 key initiatives, benefiting 40,751 recipients as of June 30, said Science, Technology and Innovation Minister Chang Lih Kang.

He said the MyStartup single window portal has so far registered 4,464 active startups, reflecting strong interest and overwhelming response to the initiatives introduced under the plan.

“This year, Kuala Lumpur climbed to 18th position on the Emerging Startups Ecosystems list published by Startup Genome, compared with the 21st to 30th bracket in 2024,” he said during the question-and-answer session in the Dewan Rakyat today.

He was responding to Tan Kar Hing (PH-Gopeng), who asked about the progress of the KL20 Action Plan and the ministry’s efforts to position Malaysia as a competitive startup hub in ASEAN.

In reply to a supplementary question from Tan on allegations that the initiative mainly benefits foreign companies and investors, Chang dismissed the claim.

“KL20 is not merely an initiative to attract foreign startups, talents or investors into the country, but also aims to strengthen the local startup ecosystem at the global level,” he said.

Chang said the Science, Technology and Innovation Ministry and Cradle Fund Sdn Bhd, as the implementing agency, would continue to enhance the local startup ecosystem through various initiatives even after Malaysia’s chairmanship of ASEAN ends.

He said these include the establishment of a Centre of Excellence, enhancement of regional platforms, ASEAN market access focused on Malaysia, as well as programme mapping and coordination.

-- BERNAMA