KUALA LUMPUR, April 29 – Economy Minister Rafizi Ramli emphasized the necessity of fostering a culture that embraces risk-taking and innovation to propel Malaysian start-ups forward during the KL20 Summit 2024. Addressing challenges encountered by start-ups, Rafizi highlighted the importance of societal attitudes and structural issues within the business ecosystem, particularly in accessing capital in the early stages. Rafizi stressed the significance of government policies prioritizing ecosystem development to support sustainable growth, facilitating the attraction of venture capital investment and the discovery of promising start-ups.
He emphasized the shift in government focus from obsessing over unicorn start-ups to nurturing the ecosystem, aiming to attract global talent and foster collaboration among founders to enhance capabilities among Malaysian entrepreneurs. In advocating for risk-seeking behavior, Rafizi asserted its crucial role in securing a prosperous future for the country. He emphasized the need for a collective effort from various stakeholders in the ecosystem to drive Malaysia towards a future characterized by innovation and risk-taking, ultimately contributing to the nation’s economic advancement.
