Petaling Jaya: Malaysian startups are banking on the potential for enhanced funding and talent acquisition through the country’s Unicorn Golden Pass.
ZUS Coffee COO Venon Tian said he thinks the new incentive package to attract the world’s leading startups and venture capital firms to the country is a great move.
“It’s always good to work with other great startups and peers. It has the potential to take Malaysian startups to the next level,” he said. sunbiz.
But while it is common to focus solely on the presence of unicorns (highly successful start-ups) and the involvement of international venture capitalists, he said there are other important factors to consider.
“How does the entire ecosystem support these unicorns and other startups? It’s never just about unicorns or international VCs, it’s more about infrastructure, policies, budgets and country positioning. ” he said.
Meanwhile, Kyaw Chee Ho, CEO and co-founder of agritech startup Carbotech, said he had been waiting for such an initiative from the government.
“This initiative will encourage more venture capitalists to focus on Malaysian startups, allowing more capital to flow into Malaysia to support local startups and their growth,” he said. added.
Mr Cho said the Unicorn Golden Pass is a great initiative to attract unicorns from around the world to Malaysia and create a colorful startup scene.
“We look forward to the details of this Unicorn Golden Path to confirm the potential synergy elements between these global unicorns and homegrown startups,” he said.
Agumo Holdings CEO Tan Aik Keong said the initiative effectively addresses four key challenges typically faced when setting up a company: funding, work visas, office space and tax rates. .
“This initiative will make it easier for startups to launch, grow and succeed in the Malaysian business ecosystem,” he added.
Vivek Sashendran, managing director of financial advisory firm VAD Capital Group, said the initiative is timely in attracting both venture capital and talent to the country.
“Imagine the media attention that will come with this recognition. The introduction of Golden Pass will further increase the visibility of these startups. Malaysia will be in the news in many countries,” he said.
Meanwhile, Guany Lim, an assistant professor at the National Graduate Institute for Policy Studies, acknowledged that the Unicorn Golden Path initiative would bring some benefits to Japan.
However, he expressed skepticism about Malaysia’s ability to surpass Singapore in this regard, but suggested the initiative would help Malaysia remain competitive with other larger Southeast Asian economies. .
“It’s a somewhat crowded field with peers engaged in similar activities,” he commented.
