Economic minister Rafizi Ramli delivers his speech during the KL Summit 20 at Kuala Lumpur Convention Centre on 22 April 2024. — Picture by Shafwan ZaidonKUALA LUMPUR, April 22 — A culture that is willing to embrace risk-taking and innovation must be cultivated if Malaysian start-ups are to go far and last, Economy Minister Rafizi Ramli said today at the KL20 Summit 2024.
“Whereas if you had gone through it yourself as a startup founder, you know that any ecosystem that can sustainably produce unicorns must have a very strong foundation from seed and early stage,” he said in a panel discussion session titled “From Malaysia to the World: Open for Tech Business” during the summit.
That was also the reason for the government’s shift in focus from obsessing over unicorn startups to prioritising ecosystem development, he said.
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