MYStartup NXT empowers Malaysia’s startup ecosystem through inclusivity at Penang micro-conference

GEORGE TOWN, 14 September 2023 — MYStartup NXT continues its journey, landing in Penang as the third stop in its mission to cultivate a culture of innovation, inclusivity, and sustainability within Malaysia’s startup landscape.

This micro-conference series, hosted by MYStartup, is dedicated to ensuring that all Malaysians, regardless of their background, have equitable access to the resources and opportunities essential for success in their entrepreneurial endeavors.

This vision closely aligns with the Malaysia Startup Ecosystem Roadmap 2021 – 2030, championed by the Ministry of Science, Technology, and Innovation (MOSTI), which emphasizes the pivotal role of a welcoming startup environment in driving economic growth and a brighter future for all Malaysians.

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MYStartup NXT takes on the challenges faced by Malaysian startups, particularly limited access to resources. It aims to raise awareness of accessible resources and ensure equal access for startups across Malaysia.

Through this innovative approach, MYStartup is striving to provide startups in both urban hubs and remote areas with equitable support to thrive. By creating a shared platform that connects the entire startup community, regardless of location, MYStartup aims to break down barriers and eliminate geographical restrictions within the region.

Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development at Cradle, expressed his enthusiasm for this initiative: “The response and engagement we witnessed at the last MYStartup NXT event in Sarawak were truly inspiring. It underscored the tremendous potential across various regions in Malaysia. As we embark on this journey with a series of hyper-localized conferences spanning the nation, we are committed to addressing the needs of the three foundational pillars of a thriving startup ecosystem: founders, investors, and developers.”

Alwi also emphasized the unique dynamics of Penang’s entrepreneurial landscape and the importance of catering to its specific needs: “Penang currently stands as a strong force within the northern region and has a rapidly growing entrepreneurial landscape with its own unique dynamics. Together with our valued partners and stakeholders, we have curated this event to cater to the specific needs of Penang’s entrepreneurial dynamics shaped by collaboration and specialization. MYStartup NXT is about leveling the playing field and equally providing startups in every region with the same set of tools, knowledge, and connections that they need to thrive. Our collective aim is to position Malaysia as a vibrant regional hub for innovation and entrepreneurship, and every state, in its own uniqueness, is a vital part of that vision.”

The two-day NXT Penang event featured insightful sessions, panel discussions, networking opportunities, and valuable resources designed to equip startups with the knowledge and connections they need to succeed.

Attendees had the opportunity to gain insights from accomplished entrepreneurs, investors, and industry experts. The event covered a diverse range of topics, including funding strategies, product development, marketing, and scaling strategies.

Day one kicked off with a panel session on ‘Unveiling New Possibilities: Navigating the Realm of Fintech in an AI-Centric Universe,’ where attendees learned about optimizing the use of AI for their startups.

The event continued with presentations, dialogues, and spotlight sessions featuring seasoned figures from various industries. Topics included alternative funding, the next generation of tech talent, cloud adoption, leveraging mobile gaming, and aligning deep tech with global markets.

All discussions aimed to inspire the startup community to strengthen their businesses. A fireside chat emphasized bridging the digital divide and exploring the intersection between regional policies and the startup ecosystem, offering attendees unique insights.

Recognizing the increasing interest in funding, MYStartup organized a special session for the Penang crowd, bringing together funding partners such as Cradle, Vertex Ventures, Mavcap, Khazanah, Artem, Malaysian Business Angel Network (MBAN) Penang, and more.

Ng Kwang Ming, CEO of Digital Penang, welcomed MYStartup NXT to Penang, highlighting the alignment of the event with the region’s mission to foster a vibrant entrepreneurial landscape. Ming stated, “The collaboration between MYStartup and the State of Penang underscores our commitment to fostering a vibrant entrepreneurial landscape. Together, we aim to create a more inclusive and innovative ecosystem that empowers startups and entrepreneurs across Penang, ensuring that they have the tools and opportunities they need to succeed.”

Building on the successes of previous MYStartup NXT events in Cyberjaya and Sarawak, this groundbreaking series of micro-conferences will continue its mission to empower aspiring entrepreneurs and startups, state by state, across Malaysia.

This ongoing initiative plays a vital role in strengthening Malaysia’s thriving startup ecosystem and unlocking the full potential of startups. Together, MYStartup hopes to build a brighter future for innovation and entrepreneurship in Malaysia.

For more information about MYStartup, please visit www.mystartup.gov.my .

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