M Nazrul Hazeri Nazirmuddin’s Post

A single $ of revenue from government procurement is often worth much much more than a single $ of investment by a VC fund. This is because startup valuation is a multiple of revenue and profit growth and revenue is proof of derisked product market fit, i.e. customers are willing to pay for it. Hence, government procurement can be a much larger lever of value creation for any startup ecosystem if deployed correctly. Unfortunately, this is not reflected in policies and is often missed out in strategy papers by consultants and policy makers. Even in a small country like Malaysia, the government spends billions annually on IT and tech procurement. In many cases, efficient and productive startups are also frequently crowded out by entrenched businesses and interests even if solutions from certain startups could be more nimble, more efficient or more friendly to tax payers. Government agencies should NOT be forced to buy local or from startups necessarily. However, they could be encouraged nonetheless to be supportive where possible. Hence, perhaps some extra + 10% weightage should be given to RFPs whenever local technology is used and negative weightage of -10% be given to straight through importations of foreign products. This partial skew could help spur a more robust local tech ecosystem.

The Ministry of Economy, Trade and Industry (METI) proudly announces the launch of the “J-Startup KANSAI” initiative, a regional adaptation of Japan’s national J-Startup program. Originally introduced in 2018, this initiative aims to accelerate the growth of promising startups in the Kansai region by offering robust support through strategic public-private partnerships. The “J-Startup KANSAI” initiative is designed to nurture innovative startups with the potential to expand both nationwide and globally. Selected startups, recognized as “J-Startup KANSAI Companies,” will receive various forms of assistance, including enhanced corporate public relations, access to specialized startup support projects, and partial integration into the national J-Startup program. Find out more 👇 https://lnkd.in/e89rYN2j #japan #meti #kansai

I am thrilled to share some of the pivotal initiatives announced at the 2024 Tech in Asia Conference in Kuala Lumpur. As we continue to nurture and elevate our startup ecosystem, I'm proud to highlight the ASEAN Startup Initiative led by MOSTI and Cradle. This initiative, endorsed by the ASEAN Committee on Science, Technology, and Innovation (COSTI), aims to foster startup ecosystems across the region through economic integration and inclusive development. Key Highlights: 🔹 Official Launching of ASEAN Startup AI Powered Portal: A comprehensive directory and starting point for venture creation and market access across ASEAN Member States. 🔹 Capacity Programs: Including pitching competitions and startup accelerator programs targeting ASEAN-themed and corporate-based challenges. 🔹 Startup Village: Featuring events like the ASEAN-India Startup Festival 2025 to expand the national startup ecosystem to a global network. 🔹 Statement on Empowering ASEAN Tech Startups: Garnering support from all ASEAN Member states to expand the global startup network and strengthen cross-border ties. Our goal is to create a seamless business environment for startups, supporting founders as they scale their ventures to new heights. This initiative is a testament to our commitment to advancing innovation and technological progress, not just in Malaysia, but across the entire ASEAN region. #MOSTI #Cradle #StartupEcosystem #MalaysiaMadani

As the KL20 Summit 2024 comes to a close, it is already heralding change for Malaysia. With the startup ecosystem slowly but surely growing, the country is due for a radical transformation. Between 2008 and 2016, the startup ecosystem contributed RM3.4 billion to Malaysia’s Gross Domestic Product (GDP), creating 80,600 jobs, and by 2030, it is projected to contribute RM30.8 billion to the GDP. #KL20

Yesterday, our Co-founder, Mohd Iskandar Shafi'i had the incredible opportunity to be featured on BuletinTV3 Detik Niaga. “As the fund grows and evolves, it highlights how the valuation of companies can increase over time, maintaining relevance and consistency. This is the vision Malaysian startups should aspire to – not just being local champions (jaguh kampung), but striving to scale globally and seize opportunities in new markets.” This is an important reminder for startups to broaden their perspective, focus on solving real-world challenges, and develop solutions that can scale beyond Malaysia. Let’s adopt this mindset and drive our startups to new heights globally!✨ #GrowthCharger #StartupMalaysia #DetikNiaga

China Overtakes the U.S. in High Technology As of the interim results for 2024, for the first time in history, China has surpassed the United States in the number of unicorn companies. These are firms that have reached a valuation of $1 billion within ten years of being founded, have not gone public, and retain at least 25% ownership by their founders—in short, promising startups. In 2024, 46 such companies emerged in China, compared to 36 in the U.S. Additionally, in 2024, Uzbekistan saw its first unicorn, the digital ecosystem Uzum. China is definitely going to surpass US in 15-20 years. What's your take on this?

🌐 Transforming Thailand's Economy: The Role of Startups in 13 Key Industries The Thai government’s latest initiative highlights the vital role startups play in transforming the economy. These 13 sectors—from smart electronics to food for the future—are key to achieving Thailand's 4.0 goals. 🌍🚀 #Thailand4.0 #EconomicDevelopment #InnovationDriven #FutureIndustries #AOThailand #AdminOutsourcingTH #AdministrationOutsourcingTH If you'd like to learn more about starting a BOI-promoted company and the benefits it offers, feel free to reach out to us at info@adminoutsourcing.com. Read more: https://buff.ly/4eM6SL6

Exciting news for Malaysia's digital economy! MDEC has inked new strategic MoUs with Singapore's Ascent and Indonesia's Central Capital Ventura (CCV), marking a pivotal step in scaling up Malaysia's digital ecosystem with up to US$45 million in investments. These partnerships are designed to supercharge local startups, particularly those focused on fintech, AI, healthcare, and more, while aligning with the nation’s KL20 initiatives. By connecting Malaysian innovators with Ascent’s early-stage investment in critical sectors and CCV’s extensive Southeast Asian network, MDEC is accelerating the journey toward a digital-first Malaysia. The collaborations pave the way for startups to gain cross-border expertise, industry mentorship, and funding to thrive regionally and beyond. 🚀 Here’s to seeing Malaysian companies rise as leaders in the region’s tech scene! https://loom.ly/_sGdsSE #MDEC #DigitalEconomy #ASEANStartups #Innovation #MalaysiaKL20 #CrossBorderCollaboration #e27News

Azerbaijan Innovation Center opens in Baku, aiming to boost 📈 tech and startups 💼 The Azerbaijan Innovation Center (AIC) was established on the initiative of the Innovation and Digital Development Agency under the Ministry of Digital Development and Transport. AIC will serve as a unified hub, bringing together tech entrepreneurs, startups, and innovators. 💻 The center plans to attract more international partners and companies, expand startup support programs, and facilitate their integration into global markets. 💡 The goal of AIC is to become a strong player in the ecosystem where technology and innovation play a key role in the economy. "This makes the Center attractive not only to local startups but also to international companies, creating an opportunity to view Azerbaijan as a new market," emphasized the Deputy Minister. 🔜 Additionally, there are plans to establish a second, larger innovation center in Baku. As Azerbaijan continues to evolve as a promising market, we can assist businesses in navigating the expansion into this region, whether with or without entity setup. Our expertise ensures a smooth entry into the Azerbaijani market, allowing you to seize opportunities in this dynamic landscape. https://lnkd.in/dUXEGDsf #AzerbaijanInnovation #TechEntrepreneurs #AzerbaijanTech #BakuInnovation #TechGrowth #DigitalTransformation #GlobalMarkets #AzerbaijanBusiness #GlobalPartnerships #EORServices #EORAzerbaijan #EntitySetupAzerbaijan #RecruitmentAzerbaijan

Here is the final chance for you to showcase your solution at ASEAN level and you may get the a grant as research funding! Check this out↓↓↓