TLDR:
- Malaysia unveils a blueprint for venture capital growth and economic empowerment through the Malaysia Venture Capital Roadmap (MVCR) for 2024-2030.
- The MVCR focuses on strategic funding allocation, regulatory reform, and capacity building to propel Malaysia’s position in the global innovation landscape.
Malaysia has recently revealed a blueprint aimed at promoting venture capital growth and economic empowerment in the country. The Ministry of Science, Technology & Innovation (MOSTI) and Malaysia Venture Capital Management Berhad (MAVCAP) announced the launch of the Malaysia Venture Capital Roadmap (MVCR) for the period 2024-2030. The roadmap, developed with input from industry experts, is designed to ignite innovation, support entrepreneurship, and drive economic growth in Malaysia.
The MVCR is structured around three key strategic pillars:
- Funding: Emphasizing strategic fund allocation from both government agencies and private investors, focusing on key sectors vital for Malaysia’s economic development.
- Regulatory Reform: Advocating for clear governance structures to create a favorable regulatory environment for venture capital activities.
- Capacity Building: Aiming to establish an inclusive ecosystem that attracts local and foreign talent, fostering diverse perspectives essential for sustainable growth and innovation.
Minister of Science, Technology and Innovation, Chang Lih Kang, expressed pride in the MVCR, emphasizing the government’s commitment to nurturing Malaysia’s innovation-driven economy. The MVCR outlines 11 interventions grouped under strategies to improve ease of doing business, enhance funding accessibility, and elevate Malaysia’s venture capital talent pool.
The MVCR also sets ambitious targets for increasing venture penetration rate, enhancing the regulatory framework, and boosting the number of venture capital professionals in Malaysia by 2030. MAVCAP, Malaysia’s largest venture capital firm focusing on the technology sector, is leading the implementation of the MVCR.
With a phased intervention plan spanning from 2024 to 2030, the MVCR aims to transform Malaysia’s venture capital ecosystem into a dynamic, efficient hub for venture capital activity. MAVCAP, as a government-backed venture capital company, is dedicated to developing local venture capital talent and attracting foreign investments into Malaysia.
In conclusion, the MVCR represents a significant step towards driving innovation-led economic growth in Malaysia and enhancing the country’s competitiveness in the global market.
