KUALA LUMPUR: Malaysia's start up scene has demonstrated its resilience with sustained investor confidence, which was highlighted in the inaugural Tech in Asia Conference recently.
The conference, held on July 24-25, signified a momentous first for the country and was attended by 1,600 people across Southeast Asia.
The conference theme "Malaysia on the Rise" captured the country's burgeoning presence and exciting future in the regional tech scene.
Tech in Asia chief operating officer Maria Li said Malaysia's startup scene is experiencing a surge of momentum.
"With the recent launch of the KL20 Action Plan, the Malaysian government has sent a clear message - they're all in on fostering a thriving startup ecosystem.
"This strong support, coupled with the country's vibrant talent pool and strategic location, creates a fertile ground for innovative startups to flourish in Southeast Asia.
"We at Tech in Asia are thrilled to be a part of this exciting journey. By bringing our signature conference to Malaysia for the first time, we aim to contribute to the momentum and connect the brightest minds in the region."
Li added that this year's conference reflects the genuine belief in the country's potential to become a major force in Southeast Asian tech,l.
"We look forward to witnessing the incredible innovations and collaborations that will undoubtedly emerge from this event."
There were a total of 10 partner booths and 50 startup factory booths set up throughout the event, fostering exchange of ideas as participating exhibitors showcased their solutions.
Tech luminaries from various sectors convened to discuss, connect and explore ways to unlock and harness the immense potential that Malaysia possesses.
While global funding trends had shifted in 2023, Malaysian startups still managed to secure over US$86 million in investments, Tech in Asia said.
The figure, although lower than the record-breaking US$975 million raised in 2022, marked the first year of positive funding since the pandemic began.
The inaugural Tech in Asia Conference kicked off with an engaging opening session.
It featured a lineup of renowned speakers such as Khailee Ng, managing partner of Global 500, and Stephanie Sitt, founder and chaurwoman of Pixlr.
The event continued with a focus on Malaysia's burgeoning startup scene.
Science, Technology and Innovation minister Chang Lih Kang spoke about Malaysia's plans to become a startup powerhouse, driving growth not just at home, but in Asean and beyond.
"With all our local efforts in uplifting the Malaysian startup ecosystem, it is now time to scale beyond Malaysia.
"As we prepare for our role as Asean Chair in 2025, I'm honoured to share that MOSTI, through Cradle, will be spearheading the Asean Startup Initiative."
Endorsed by the Asean Committee on Science, Technology, and Innovation (COSTI) in June 2023 with a recent update at Asean COSTI-85 in early June 2024, the initiative aims to foster startup ecosystems across the region through economic integration and inclusive development, added Chang.