KUALA LUMPUR , Malaysia, Nov 22 (Bernama-PRNewswire) — Since 2003, Cradle Fund has championed over 900 early stage start-ups through various investment programmes. This year, its first ever Cradle Startup Awards & Media Appreciation Night aims to celebrate 16 years of empowering Malaysian start-ups and to recognise the contributions of start-ups, partners and media in cultivating a vibrant ecosystem and putting Malaysia on the global map.
The role of a vibrant startup ecosystem goes beyond leading the charge in innovation and technology, but is also important in sustaining a developing economy. In an impact study of the Cradle Investment Programme done in 2018, the Malaysian startup ecosystem contributed a total of RM3.4 billion to the nation’s GDP from 2008 to 2016 and is projected to reach RM30.8 billion by 2030, giving it a significant role in the overall nation building process. Within the same period, the ecosystem had also created 80,600 new full time jobs, attracted RM1.3 billion in private and foreign funds and produced permanent recurring income effects on the economy.