MOSTI and Cradle Fund to Champion ASEAN Startup Ecosystem Development
In a pivotal move aimed at propelling the ASEAN region forward, the Ministry of Science, Technology and Innovation (MOSTI) of Malaysia, collaborating with Cradle Fund Sdn Bhd, is set to spearhead the ASEAN Startup Initiative. This initiative underscores a regional commitment towards nurturing and enhancing startup ecosystems, demonstrating an unwavering dedication to economic integration and inclusive development across Southeast Asia.
The ASEAN Startup Initiative has received the endorsement of the ASEAN Committee on Science, Technology, and Innovation (COSTI), marking a significant step in regional cooperation and development. The launching ground for this initiative was laid in June 2023, with a critical update following during the 85th Meeting of COSTI early in June 2024. These concerted efforts aim to synchronize strategies and resources across the ASEAN countries, broadening the horizon for startups and innovators throughout the region.
In an announcement, MOSTI Minister Chang Lih Kang highlighted the initiative’s core objective to build robust startup ecosystems across the ASEAN member states. Through this strategic venture, the initiative seeks to promote not just economic growth but also ensure that development is inclusive, providing equal opportunities for all sectors of society to participate in and benefit from the burgeoning startup scene.
The implementation of the ASEAN Startup Initiative represents a milestone in regional collaboration. By fostering a vibrant and sustainable startup ecosystem, ASEAN countries can unlock new economic frontiers, creating jobs, driving innovation, and enhancing their competitiveness on the global stage. This initiative not only aligns with the broader goals of ASEAN economic integration but also with the vision of creating a more equitable and prosperous region for future generations.
As the ASEan Startup Initiative unfolds, it embodies the collective aspirations of the ASEAN nations to embrace the future through innovation, cooperation, and shared prosperity. By leveraging the strengths and capabilities of each member state, the initiative is poised to catalyze a new era of startup success, making ASEAN a beacon of entrepreneurial spirit and technological advancement.
In concluding, the partnership between MOSTI and Cradle Fund in driving the ASEAN Startup Initiative forward puts forth an ambitious blueprint for regional economic transformation. It serves as a testament to the power of collaborative effort in achieving common goals, setting a precedent for future initiatives aimed at nurturing the entrepreneurial ecosystem within ASEAN and beyond.
