| Last week, a story titled “Report: Malaysian tech start-ups leave for Singapore, Australia to grow business” was published by a couple of local news outlets. As the headline would suggest, the piece spoke to how successful Malaysian startups such as iFlix & PropertyGuru are looking to Australia’s ASX to raise capital and how the regional unicorn, Grab, once the pride of Malaysia is now known as a Singapore-headquartered startup.
While its perhaps easy to focus on startups who have left - like prodigal sons we hope will return - its also easy to forget that there are, in fact, regional champions who have made the choice to stay in Malaysia. An issue founders in more homogeneous countries probably won’t have to think about until the day they decide to start operations in a new country. Demographic incentives such as a strong middle-class and high Internet penetration make it easy to launch a digital business too.
In short, many founders view Malaysia as a great place for startups to thrive. In many ways, we see Malaysia as the Asean sandbox. Where founders can build great businesses, expand to Asean and beyond.
Yang ni, saya sokong!
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