Startup Genome is an organization that helps governments accelerate its startup ecosystem. Recently the organization released a report called The Global Startup Ecosystem Report 2020 (GSER 2020).
The report assesses startup ecosystems across 100 countries and puts them into a top 30 list.
Malaysia has an organization called the Malaysia Digital Economy Corporation (MDEC) which focuses on pushing the country’s digital economy forward. That means it supports startups and small tech businesses make a name of itself.
Curious about the state of the digital ecosystem, MDEC contacted Startup Genome at the start of 2020 to benchmark the country’s capital – Kuala Lumpur – against 250 other ecosystems around the world.
As it turned out, Startup Genome ranked Malaysia’s capital Top 10 in emerging ecosystems in performance and Top 20 in emerging ecosystem talents.
The report also revealed that Kuala Lumpur is an ideal location for startups due to its low cost, fast-tracked visas, robust government support, high quality of living, and talent.
MDEC’s CEO Surina Shukri was very satisfied with the results. She believed that the reason for the ranking was related to the entrepreneurial vigour of local startup founders and the astuteness of ecosystem players.
Shukri said, “We will not rest on our laurels and will remain steadfast in propelling Malaysia’s startup ecosystem to attain global recognition in the economic epicentres of every continent.”
Aside from ranking ecosystems, the report also offered guidance to both public and private business owners on how they can foster a thriving startup ecosystem. It also provided a guide to governments on how they can leverage tech ecosystems to start recovering from the coronavirus lockdown.
Founder and CEO of Startup Genome JF Gauthier said, “This is the time for policymakers, community leaders, and foundations to double their support on local startups — the #1 engine of job creation and economic growth.
“The Global Startup Ecosystem Report is the foundation of global knowledge where we, as a network, come together to identify what policies produce economic impact and in what context.”
Source: https://sea.mashable.com/tech/11339/malaysia-ranks-among-the-10-best-places-in-the-world-for-startups-to-thrive