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 Despite its strategic geographic location in the Asia-Pacific region, offering potential access to vast regional markets, Malaysia has yet to fully realize its startup potential. The talent and positive mindset are there, and government policies and public sector startup institutions are overperforming compared to most of their Asian counterparts. However, easing regulation and reducing bureaucracy remain crucial for Malaysia’s sustained startup ecosystem growth. Still, the emergence of Carsome—Malaysia’s first unicorn, achieving that status in 2021—marks a major milestone and shows that the country is capable of nurturing scalable startups. 
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 Encouraged by this progress, Malaysia’s Digital Economy Blueprint outlines an ambitious plan to foster five more unicorns in key digital industry clusters by 2030. This vision is echoed by the private sector, with ecosystem builders like ScaleUp Malaysia and Proficeo launching initiatives such as the 100 Soonicorns Program to accelerate the next generation of high-growth startups. The government has also launched the MYStartup platform to provide startup stakeholders with resources and opportunities. MYStartup is responsible for implementing the Startup Ecosystem Roadmap (SUPER) 2021–2030, a plan that aims to place Malaysia among the world’s top 20 startup hubs. Another public sector leader, the Malaysia Digital Economy Corporation (MDEC), is actively involved in supporting digital innovation and entrepreneurship. 
 Complementing these efforts, the government has introduced broader national strategies like the Shared Prosperity Vision 2030, which includes a focus on supporting startups. However, recently introduced dividend and capital gains taxes may temper this business-friendly narrative by affecting investor sentiment. 
 Despite this, certain sectors—particularly fintech—continue to thrive, driven by high digital adoption, strong regulatory support, and targeted innovation programs. Malaysia’s fintech strength is supported by initiatives such as Bank Negara’s Regulatory Sandbox, which has helped companies like Boost and MoneyMatch grow. The recent approval of digital banks, including GXBank, further signals Malaysia’s readiness to support fintech innovation at scale. 
 Beyond industry-level development, Malaysian cities are building their own ecosystem identities. Kuala Lumpur remains the country’s primary startup hub, hosting the majority of startups—as expected in a capital city. George Town, however, is also developing a vibrant startup ecosystem. One of the most important local enablers is Digital Penang, a government-linked organization that contributes to ecosystem growth. Its SME Go Digital program supports early-stage tech startups and aims to strengthen the innovation landscape in Penang. 
 Although Malaysia has a sizable consumer market, which could tempt startups to remain locally focused, we hope to see more entrepreneurs take risks and scale into international markets. 

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![city scape at night](https://images.unsplash.com/photo-1564506414752-a73fbe0c6b00?ixlib=rb-4.0.3&ixid=M3wxMjA3fDB8MHxzZWFyY2h8Nnx8bWFsYXlzaWF8ZW58MHx8MHx8fDA%3D&w=1000&q=80)
 Despite its strategic geographic location in the Asia-Pacific region, offering potential access to vast regional markets, Malaysia has yet to fully realize its startup potential. The talent and positive mindset are there, and government policies and public sector startup institutions are overperforming compared to most of their Asian counterparts. However, easing regulation and reducing bureaucracy remain crucial for Malaysia’s sustained startup ecosystem growth. Still, the emergence of Carsome—Malaysia’s first unicorn, achieving that status in 2021—marks a major milestone and shows that the country is capable of nurturing scalable startups. 

==read-more==

 Encouraged by this progress, Malaysia’s Digital Economy Blueprint outlines an ambitious plan to foster five more unicorns in key digital industry clusters by 2030. This vision is echoed by the private sector, with ecosystem builders like ScaleUp Malaysia and Proficeo launching initiatives such as the 100 Soonicorns Program to accelerate the next generation of high-growth startups. The government has also launched the MYStartup platform to provide startup stakeholders with resources and opportunities. MYStartup is responsible for implementing the Startup Ecosystem Roadmap (SUPER) 2021–2030, a plan that aims to place Malaysia among the world’s top 20 startup hubs. Another public sector leader, the Malaysia Digital Economy Corporation (MDEC), is actively involved in supporting digital innovation and entrepreneurship. 

 Complementing these efforts, the government has introduced broader national strategies like the Shared Prosperity Vision 2030, which includes a focus on supporting startups. However, recently introduced dividend and capital gains taxes may temper this business-friendly narrative by affecting investor sentiment. 

 Despite this, certain sectors—particularly fintech—continue to thrive, driven by high digital adoption, strong regulatory support, and targeted innovation programs. Malaysia’s fintech strength is supported by initiatives such as Bank Negara’s Regulatory Sandbox, which has helped companies like Boost and MoneyMatch grow. The recent approval of digital banks, including GXBank, further signals Malaysia’s readiness to support fintech innovation at scale. 

 Beyond industry-level development, Malaysian cities are building their own ecosystem identities. Kuala Lumpur remains the country’s primary startup hub, hosting the majority of startups—as expected in a capital city. George Town, however, is also developing a vibrant startup ecosystem. One of the most important local enablers is Digital Penang, a government-linked organization that contributes to ecosystem growth. Its SME Go Digital program supports early-stage tech startups and aims to strengthen the innovation landscape in Penang. 

 Although Malaysia has a sizable consumer market, which could tempt startups to remain locally focused, we hope to see more entrepreneurs take risks and scale into international markets.

LottieFiles

Digital Nasional Berhad

TNG Digital

iFlix

Twilight Foundry Games

The country has some notable startup success stories including , TNG Digital.

Malaysia has 3 cities in the top 1000
      and is one of South East Asia’s best countries for setting up a startup.

Malaysia’s startup scene remains stable in 2024 on the
      43rd position, having kept 3 cities
      in the global top 1000.

Malaysia’s startup ecosystem ranks 3rd in South East Asia and 43rd globally. Malaysia’s startups raised 5399236 US dollars on average. Find the most promising startups, unicorns, and notable exits in Malaysia.

Startup Ecosystem of Malaysia | Startupblink

Our startup ecosystem map for Malaysia includes a sample of  673 tech companies. We have identified as unicorns 1 startups that have passed the USD 1 billion valuations. Contributing to the vitality of this startup ecosystem are the 1 pantheon member entities.

With a large variety of accelerator programs and initiatives, Malaysia's startup scene stands out from that of other countries in South East Asia. Malaysia offers a number of funding
opportunities for entrepreneurs and startups. Below is a list of some of Malaysia's most prominent support initiatives:

An inspiring ecosystem that is steadily due to its growing use of digital technologies, rapid urbanization and planned investments

WADAAG TECHNOLOGIES

Sostec

FGS Bill Tracker

Zaad

Wadaag Investment

A growing regional and global startup leader 

bitget.com

AscendEX

DeBank

Trip.com

Viki

A vibrant and strong startup hub attracting international recognition and investment

Cámara de Comercio de Bogotá

Founder Institute (FI) Bogota

RockStart Latam 

Calle 127a # 53a-45

Carrera 19 # 100 - 45

WeWork

Toastmasters Bogota

Picap

Autolab

Cubbo

Rappi

Addi

Bold

Carrera 11B # 99 - 25

Calle 81 #11-08

A leading regional startup hub owing its succes to the creative and innovative spirit of its people 