According to the Global Startup Ecosystem Report 2020 (GSER2020) by Startup Genome, Kuala Lumpur ranked top 10 emerging ecosystem in performance and top 20 emerging ecosystem in talent.
The report are based on data from 1 million companies across 150+ cities worldwide. Earlier this year, the Malaysia Digital Economy Corporation (MDEC) partnered Startup Genome to benchmark Kuala Lumpur’s performance against more than 250 ecosystems globally.
The report positioned KL as an ideal locale for startups
The Global Startup Ecosystem Report 2020 also positioned Kuala Lumpur as an ideal locale for startups, citing low costs, high quality of living and talent, fast-tracked visas and robust government support as prime reasons for entrepreneurs to either start or move their businesses to Malaysia.
Surina Shukri, CEO of MDEC, attributed the positive rankings of Kuala Lumpur to the entrepreneurial vigour of local startup founders and the astuteness of the ecosystem players, which are aptly positioning Malaysia as the Heart of Digital ASEAN.
“We will not rest on our laurels and will remain steadfast in propelling Malaysia’s startup ecosystem to attain global recognition in the economic epicentres of every continent,” added Surina.
The GSER 2020 assesses startup ecosystems across 100 countries and puts them into a top 30 list. It also provides guidance to public and private leaders on how to foster thriving startup ecosystems, particularly on how governments worldwide can support and leverage tech ecosystems to restart stalling economies recovering from the Covid-19 lockdowns.
To find out how the entrepreneurial ecosystems across the world stack up, view the full report here.