MYStartup launched its 2024 program, MYStartup NXT, in Johor, aiming to support the state’s growing startup ecosystem through knowledge sharing, networking, and addressing key challenges faced by startups.
5 March 2024 – MYStartup, a Malaysian organization dedicated to fostering startup development, officially launched its 2024 program, MYStartup NXT, in Johor. This strategic move signifies their commitment to supporting the state’s burgeoning startup ecosystem.
The event witnessed the participation of prominent figures like Datuk Mohammad Yusof Apdal, Deputy Minister of Science, Technology and Innovation. He highlighted the program’s significance in:
- Empowering entrepreneurs: Providing a platform for aspiring and established entrepreneurs to connect, share knowledge, and network with crucial players in the entrepreneurial landscape.
- Addressing key challenges: Tackling persistent issues hindering startups, such as limited access to capital, talent acquisition difficulties, and infrastructure constraints.
- Fueling economic prosperity: Contributing to the development of a thriving startup ecosystem in Johor, ultimately fostering economic growth for the state and the nation.
Norman Matthieu Vanhaecke, CEO of Cradle Fund Sdn Bhd (Cradle), a key partner of the event, emphasized the importance of collaborative efforts in building a robust and sustainable startup landscape. He lauded MYStartup NXT as a prime example of such collaboration and highlighted Cradle’s unwavering support for startups through its focus on three key pillars: founders, investors, and technology developers.
Datuk Idzham Mohd Hashim, President and CEO of Iskandar Investment Bhd (IIB), expressed his company’s enthusiasm in partnering with MYStartup NXT, acknowledging the pivotal role startups play in driving economic development. He highlighted the potential of Medini, a flagship development by IIB, as a prime location for startups due to its strategic positioning, robust infrastructure, and established reputation as Johor’s digital hub.
The selection of Johor as the inaugural location for MYStartup NXT is strategically motivated, driven by several key factors:
- National goal: Contributing to the national goal of fostering over 5,000 high-quality startups by 2025.
- Thriving ecosystem: Johor’s startup ecosystem is experiencing significant growth, fueled by its strategic positioning, proactive government initiatives, and access to a talented workforce.
- Strategic location: Johor’s proximity to Singapore, a vibrant tech hub in Southeast Asia, offers valuable opportunities for networking, collaboration, and talent acquisition.
Further emphasizing Johor Bahru’s potential as a thriving startup hub is its impressive rise in global rankings, as reported by StartupBlink’s Global Startup Ecosystem Index Report:
- Global ranking: Johor Bahru secured a spot among the top 600 cities worldwide in 2023, marking a significant jump of 404 places compared to the previous year.
- Southeast Asia ranking: Johor Bahru climbed nine positions, solidifying its place as the 13th most vibrant ecosystem in the region and maintaining its position as the 3rd most vibrant ecosystem in Malaysia.
The launch of MYStartup NXT in Johor signifies a significant step forward in empowering local startups and fostering economic growth for both the state and the nation. – ref: TMR
