The Minister of Science, Technology and Innovation, YB Dato’ Sri Dr. Adham Baba has launched the fourth edition of the ‘MYStartup Roadshow’ series in Kuching, Sarawak.
Organised by the Ministry of Science, Technology and Innovation (MOSTI) through its agency, Cradle Fund Sdn. Bhd. (Cradle), the ‘MYStartup Roadshow’ tour series continues its momentum and efforts in creating an inclusive and conducive start-up ecosystem.
Kuching is the first stop outside Peninsular Malaysia and the fourth in the MYStartup Roadshow series after Kuala Lumpur, Johor and Penang.
The roadshow is part of the effort to ensure that the startup community in Sarawak is also included and benefit from startup empowerment programms through the MYStartup Programme.
Speaking at the event, YB Dato’ Sri Dr. Adham Baba said, “MOSTI together with Cradle are proud to work and receive support from community and technical partners. Among them are TEGAS Digital Village, Sarawak Digital Economy Corporation (SDEC), iCube Innovation and Sarawak Media Group (SMG), as well as others who have joined hands in advancing efforts and the development of the startup community in the state.”
Launched in February 2022, the MYStartup Programme consists of several programmes aimed at empowering the startup ecosystem and community in Malaysia through content that focuses on the progress and sustainable development of startups as well as capacity building and human capital.
Among the activities held during the tour were briefing sessions on MOSTI initiatives as well as the direction of Malaysian startups and one-to-one consultations between local funding agencies and strategic partners, as well as those from outside Sarawak.
The cooperation between MOSTI, Cradle and other stakeholders in the Malaysian Startup Ecosystem in this roadshow shows MOSTI’s drive in manifesting the Government’s efforts and commitment to ensure that Keluarga Malaysia benefits from the country’s startup empowerment and development efforts.
Through this effort, the dream of making Malaysia the main choice for founders and foreign companies to establish and start their operations in the country can be realised, thus boosting the country’s economy.
At the event, YB Dato’ Sri Dr. Adham Baba announced an initiative from Cradle and Malaysia Debt Ventures Berhad (MDV) that provides financing from the pre-seed to the next stage – Program Pembiayaan Start-ups Agensi MOSTI. Through this initiative, all existing financing options from Cradle and MDV will be adapted into a funding funnel for startups.
As such, a Memorandum of Understanding (MoU) between Cradle and MDV was signed as an initial step to reduce the failure gap or valley of death faced by most startups in Malaysia. The event also witnessed an MoU exchange between MOSTI, through Cradle, and GK Aqua Sdn. Bhd. (GK Aqua) for the provision of training to participants under the ‘Upskilling For Deeptech And Futureskills’ programme organised by Cradle.
Through this joint venture, GK Aqua will be the official training provider to train and enhance a skilled workforce in the field of bioscience commencing July 2022.
In ensuring continuity and sustainability of the start programme organised in Sarawak, Cradle also inked an MoU with Tabung Ekonomi Gagasan Anak Sarawak (TEGAS) that will see TEGAS executing programmes and activities under the MYStartup Programme umbrella in the state. In return, Cradle will also support startup ecosystem development programmes organised by TEGAS in Sarawak.