Malaysia Takes the Lead with Startup ASEAN Initiative

The Ministry of Science, Technology and Innovation (MOSTI), in collaboration with Cradle Fund Sdn Bhd (Cradle), has launched Startup ASEAN, a new initiative to strengthen the regional startup ecosystem. This platform seeks to elevate ASEAN as a global hub for innovation. 

Startup ASEAN encourages collaboration and growth within the region. MOSTI and Cradle, Malaysia’s leading agency for supporting startups, have partnered to create this platform to catalyze driving innovation and expand ASEAN’s presence on the global stage.

With Malaysia set to take on the ASEAN chairmanship in 2025, the nation has been tasked with spearheading the ASEAN Startup Initiative (ASI) as part of the ASEAN Technology Startup Ignite program. This initiative aligns with Malaysia’s Priority Economic Deliverables (PEDs) in the fields of Science, Technology, and Innovation (STI).

The initiative’s primary goal is to encourage policies that support startups, enhance the readiness of ecosystems across ASEAN Member States (AMS), and promote impactful collaborations to drive regional growth and innovation.

The first project under the ASEAN Technology Startup Ignite is the Startup ASEAN platform, developed by a task force comprising representatives from all ten ASEAN Member States. This platform aims to serve as a central hub for connecting innovators and entrepreneurs within the region, enabling cross-border collaborations. The initiative’s launch emphasizes Malaysia’s role in leading efforts to create a sustainable and thriving startup ecosystem across Southeast Asia.

YB Tuan Chang Lih Kang, Minister of Science, Technology, and Innovation (MOSTI), highlighted the importance of Startup ASEAN in advancing science, technology, and innovation. “This platform is designed to empower entrepreneurs, foster innovation, and drive economic growth across the ASEAN region,” he said. He added that the initiative is a testament to the region’s collective commitment to strengthening collaboration and supporting technological advancements within the startup ecosystem.

Norman Matthieu Vanhaecke, Group CEO of Cradle, emphasized the role of Startup ASEAN as a catalyst for regional cooperation. “Cradle is proud to lead this initiative, which is not just a platform but a catalyst for growth and innovation,” he said. The platform will feature a series of dynamic programs, including regional hackathons targeting deep-tech sectors such as Artificial Intelligence (AI), sustainability, and climate technology. Furthermore, the upcoming Startup ASEAN Summit will showcase regional innovations and open new markets for startups across the region next year.

Startup ASEAN is set to officially launch in Q2 2025 and is currently welcoming startups and ecosystem partners from across ASEAN to join the initiative. Entrepreneurs can register their interest through the official website, www.startup-asean.org, and contribute to the region’s journey toward innovation and growth. The platform is envisioned to be a key driver in advancing the ASEAN startup ecosystem to the next level.

YB Tuan Chang Lih Kang officiated the soft launch of Startup ASEAN during the Malaysia-China Summit 2024, with key stakeholders from the startup community in attendance. H.E. Satvinder Singh, Deputy Secretary General for the ASEAN Economic Community, emphasized the region’s immense potential, noting that ASEAN’s startup ecosystem already includes over 11,000 startups with a combined valuation of US$131.2 billion.