PETALING JAYA, Nov 17 — The India Asean Start-up Summit (IASS) 2023 would catalyse economic and innovative ties between India and Malaysia, said Youth and Sports Deputy Minister Adam Adli Abdul Halim.
By establishing a framework for start-ups in both countries, a solid foundation can be developed to allow entrepreneurs to leverage Malaysia’s potential as a springboard to expand into the Asean region and beyond.
He said Malaysia’s strategic location in Southeast Asia, coupled with its vibrant ecosystem, makes it an attractive destination for start-ups looking to tap into the vast Asean market.
“Our country offers a conducive business environment, robust infrastructure, and a supportive regulatory framework encouraging entrepreneurship and innovation.
“We identify the critical role played by our young entrepreneurs and their ability to shape the future of our nation. We are constantly working towards creating an ecosystem that provides access to funding, mentorship, incubation, and market integration, thereby enabling our start-ups to compete on a global scale,” he said in his speech during the soft launch of the IASS 2023 today.
Over 600 local and international startups are expected to converge in the inaugural IASS 2023, which will run from December 12 to December 13 at the Sunway Pyramid Convention Centre.
Adam said through initiatives like the summit, both countries can foster collaboration between start-ups and investors, facilitating knowledge exchange and learning, as well as pushing the boundaries of innovation, driving economic growth, and addressing the challenges of the 21st century.
“I would like to take this opportunity to encourage all participants to actively engage with one another, network, and explore potential collaborations.
“Let us leverage the power of innovation and the entrepreneurial spirit to create sustainable solutions that will benefit both nations and positively impact the lives of our people,” he said.
Meanwhile, India’s High Commissioner to Malaysia, B.N. Reddy, said IASS 2023 could be a cornerstone for fostering economic and innovative ties between the two nations.
Two-way investments between Malaysia and India have shown significant growth, with over US$20 billion (RM93.6 billion) of trade in the past two years.
“Indian startup companies such as Oyo, Perfios, Pine Labs, and Razorpay are now well-established in Malaysia and are exploring opportunities in the Southeast Asia region,” he said.
— Bernama
