KL20: Will It Put Malaysia On The Map?

05/05/24 • 48 min

Was there too much focus on attracting foreign unicorns, players and VCs at KL20? Was there not enough local support announced? We explore those criticisms as well as key aspects of the KL20 Action Plan with Dr Sivapalan Vivekarajah, Co-Chair of the Soonicorn Collective, and collective member Sharma Lachu, Founder and CEO of Accendo Technologies.

We will get into their topline thoughts and impressions about KL20 and the action plan, some of the feedback and criticisms levelled at it, and what their respective impressions and hopes are for particular initiatives, including the Innovation Belt and Unicorn Golden Pass, as well as the VC Golden Pass, VC Launch Fund, and VC Academy. We’ll also spend some time on the importance of talent initiatives.

KL20 was a summit organised by the Malaysian government held on the 22nd-23rd of April with the aim of helping stimulate Malaysia’s startup scene by addressing some of the challenges faced by startup founders in the country like access to funding, navigating regulatory barriers and attracting top talent.

At the event, Prime Minister Datuk Seri Anwar Ibrahim launched the KL20 Action Paper, which is a roadmap outlining tangible reforms to achieve convergence among key stakeholders – founders, venture capitalists, talent, incubators and accelerators, to propel Malaysia's startup tech sector to new heights.

See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.

Previous Episode

Breaking Down the Cyber Security Bill 2024

The Cyber Security Bill 2024, passed by Malaysia's Dewan Negara in April 2024, aims to bolster the nation's cybersecurity. It requires entities managing critical national infrastructures — such as government, banking, transportation, defence, and healthcare — to adopt rigorous measures, standards, and processes to mitigate cyber threats. The legislation utilises a risk-based approach to protect against current and future technologies, including blockchain, and is crucial for safeguarding Malaysia’s vital sectors and enhancing cyber resilience. For more insights, we speak with Vicks Kanagasingam, a Business Transformation Coach and Startup Architect.

See omnystudio.com/listener for privacy information.

Next Episode

EPF's Flexible Account: Opt-In for the Account 2 One-Off Irreversible Transfer?

Should you opt-in for the one-off irreversible transfer to the new Flexible Account from EPF Account 2 and effectively restructure your current EPF savings? That’s a key question that Enterprise Explores with Rajen Devadason, Licensed Financial Planner with Manulife Investment Management (Malaysia) Berhad. On top of that we also dive into how EPF members should navigate this incoming change and the narrative that we need to build around Akaun Fleksibel and its uses.

It’s no secret that EPF’s recently announced restructuring has been divisive to say the least, but love it or hate it, it’s coming later this week. Starting from Saturday May 11th 2024, EPF contributions will be split into 3 accounts, where 75% goes to Akaun Persaraan, 15% into Akaun Sejahtera, and 10% into Akaun Fleksibel.

More importantly, EPF members will have until August 31st to make a big decision - whether to opt-in to restructure your existing balance and transfer an initial amount into your Flexible Account. This one-off, initial transfer will be irreversible. Effectively, if you’ve never withdrawn funds from EPF, this move should restructure your EPF savings to follow the new 75:15:10 ratio.

See omnystudio.com/listener for privacy information.