KUALA LUMPUR: Investments in startups since the launch of KL20 in 2024 have generated total sales proceeds of RM202.64 billion, said Economy Minister Akmal Nasrullah Mohd Nasir.
He said investments channelled into the startup ecosystem amounted to about RM50 billion since 2024.
Akmal Nasrullah said Malaysia aimed to attract about RM700 million in venture capital investments and add between 2,000 and 3,500 active startups by 2030 through the KL20 initiative.
"This is why we are seeing positive developments in efforts to develop the startup ecosystem," he told reporters after a fireside chat titled "From Action Plan to Activation" at KL20 2026 here today.
On the government's target of producing five unicorn companies by 2030, Akmal Nasrullah said the government was still working to strengthen the startup ecosystem.
Relevant agencies are assisting in identifying and developing promising companies at all stages of growth, said the minister, adding that this was an ongoing process requiring cooperation among agencies to support startups from their early stages until they were capable of achieving unicorn status.
"We are not merely setting a target of producing unicorn companies, but also seeking to transform the economic structure, particularly by creating high-value jobs and increasing their contribution to the national economy.
"At the same time, the aspiration to produce local companies with global recognition will remain a priority," said Akmal Nasrullah.
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