Mosti, Cradle Fund To Lead Asean Startup Initiative By Fostering Regional Ecosystems

KUALA LUMPUR, July 25 (Bernama) -- The Ministry of Science, Technology and Innovation (MOSTI) via its local startup agency Cradle Fund Sdn Bhd will be leading the ASEAN Startup Initiative under the science, technology and innovation (STI) sector. 

The ASEAN Startup Initiative was endorsed by the ASEAN Committee on Science, Technology, and Innovation (COSTI) in June 2023 with a recent update at the 85th Meeting of ASEAN COSTI in early June 2024.

MOSTI Minister Chang Lih Kang said the ASEAN Startup Initiative aims to foster startup ecosystems across the region through economic integration and inclusive development.

He said the initiave also corresponds to MOSTI's role as the National Committee on Science, Technology and Innovation Chair of Malaysia.

"We have been shifting our gears for the initiative for 2025.

"I am thrilled to announce that the proposed Priority Economic Deliverable (PED) 2025 under STI sector entitled “ASEAN Technology Startup Ignite” has been endorsed by ASEAN COSTI-85 and the 20th ASEAN Ministerial Meeting on Science, Technology and Innovation (AMMSTI-20) in June 2024 in Siem Reap, Cambodia," he said during his keynote adress at the Tech in Asia Conference 2024 here today.

Chang said the official launching of the ASEAN Startup AI powered portal and capacity programmes such as pitching competitions and startup accelerator programmes will be the key deliverables from the proposed PED 2025.

"The other key deliverables include the startup village such as the ASEAN-India Startup Festival 2025 and the Statement or Declaration on Empowering ASEAN tech startups to garner support from all ASEAN member states to expand the global startup network," he said. 

Meanwhile, Cradle Fund chief executive officer Norman Matthieu Vanhaecke said one of the key highlights under the initiative will be the ASEAN Startup Festival which will be held in Kuala Lumpur next year.

"We will be doing something different from other ASEAN level startup programmes, but we are deep in planning with all the local startup players and regional players just to make sure it will be a very impactful event.

"Next year we will be revealing details and will be getting everyone from local to regional startups to join the event," he told Bernama at the sidelines of Tech in Asia Conference 2024.

-- BERNAMA