Spearheaded by the Economy Ministry along with the Ministries of Science, Technology and Innovation and Digital, KL20 Summit 2024 will not only announce new policies to this end but also provide a fertile ground for investors and founders to meet — and hopefully sign a deal by the end of the summit.
Instead, Malaysia now aims to attract startups from all across the globe to set up shop here, which at the same time will kindle the fire for more high-quality startups — and eventually, more venture capitalists and sovereign wealth funds to invest in the scene.
“I’m excited to announce that KL20 will also feature a series of blockbuster deals ... These include the launching of a growth fund, the arrival of several international venture capital firms setting offices in Malaysia, as well as unicorns establishing research and development facilities, engineering units, and their regional headquarters here.Economy Minister Rafizi Ramli delivers his speech during the KL20 Summit 2024 soft launch at the Parliament in Kuala Lumpur March 27, 2024.
Instead of just launching a blueprint, it vowed that the policies to attract startups would be applicable as soon as the summit concludes. All three passes are expected to offer visa privileges for easier access, and initiatives to grease the wheels of the startups setting physical presence in Kuala Lumpur.