00:00It is a great pleasure to be with all of you again on the second day of the KL20 Summit.
00:08We just launched our
00:10MyStartup single window portal and this portal is to
00:15ease or mitigate some of the problems that
00:19the ecosystem players have been facing. For instance,
00:24difficult to get information,
00:27funding,
00:29regulatory and also tech talents. So today this portal that we just launched
00:37like 10-15 minutes ago,
00:41it is to mitigate the issue that or address the concern of all these ecosystem
00:49players.
00:51We have been doing this
00:53for the past 20 years, but of course
00:57in piecemeal. But today we are putting everything together under one comprehensive single platform.
01:05So all the personas,
01:08for instance,
01:10either you are startup founders or you are investors like VC, PE or
01:15you are tech talents yourself. You can go straight to our
01:20MyStartup website. You can have everything there and it is AI powered.
01:26You can ask
01:28the AI whatever question related to startup ecosystem.
01:33And the reason of us having or launching this single window platform is to
01:40ease
01:43the process of doing business in Malaysia,
01:46especially startup ecosystem. And also we aim to be top 20 global startup ecosystem in the world by
01:542030. And by 2025, we hope to have 5,000 startups and at the moment we have
02:013,700 over startups
02:03in Malaysia.
02:05And
02:06valuation up to 5 billion dollar
02:11currently. So we are looking at scaling up and become the top 20
02:16startup ecosystem in Malaysia, in the world. So this is
02:24single window startup and this part of the initiative of KL20 Summit
02:28under this KL20 Action Paper.
02:31If you are a startup, you don't know anything about setting up a startup and you don't know where to find funders or
02:37funding, you can go to our website,
02:40register yourself and
02:42inform the platform that what kind of startup you are looking at, you are at what stage and
02:50everything will be there.
02:52The website will direct you to relevant
02:56funding agencies or if you are a tech talent
03:02looking for employment, you can also go into our
03:05single window platform, my startup website to
03:09look for relevant jobs.
03:12So it's a combination of everything
03:16and we are addressing
03:18needs for everyone,
03:20be it you are a founder or investor or talent. So you mentioned that
03:25now we have 3,000 startups with 5 billion dollar valuation. So in 2025,
03:33how much do you target for the valuation for 5 key startups?
03:43In fact, we have no specific target on valuation.
03:47It's just an
03:50information about valuation of the current startup valuation
03:56because it depends very much on the market also, what kind of startup and then what is the
04:02need of the market. So it depends very much on
04:06the market. So there's no specific
04:09numbers or target for valuation.
04:13So our target is on numbers of startups. We are adopting this whole of government approach.
04:19Although it's a cross-ministry thing, but we are working very closely with all other ministries.
04:24KL20 is not just KL20. We have other initiatives.
04:28For instance, this single startup, single window
04:33platform. And before this, we just launched, early this month, we just launched our
04:38Venture Capital Roadmap and also we are launching this KL Innovation Belt.
04:44They are a concerted effort to boost
04:48the ecosystem so they become more vibrant and robust. In fact, looking at the response
04:55responses from the VCs and also startups,
04:58you can see that Malaysia, we still have traction to them.
05:03They are very interested in Malaysian market and they are very optimistic that
05:08their investment
05:10will bear fruits in Malaysia.
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