Our local startup ecosystem can expect RM500mil investments via India-M’sia startup bridge

Happening on December 12 and 13 is the India-ASEAN Startup Summit (IASS), marking the launch of the “India-Malaysia Startup Bridge”.

This bridge is expected to pave the way for a potential RM500 million investment into Malaysia’s startup ecosystem, with the goal to bolster bilateral economic cooperation between the two nations.

Datin Malliga Subramaniam, Chair of the IASS, said that the investment is poised to come through a variety of channels, including direct funding opportunities and strategic partnerships, aligning with the goals of the India-Malaysia Startup Bridge. 

According to a press release, IASS is seeing participation from over 600 startups and over 50 investors. Held at the Sunway Pyramid Convention Centre, the event features expert-led workshops, networking with industry leaders, interactive panel discussions, and showcases of latest innovations.

The summit also serves as a platform for exchange of ideas and strategies between Malaysian and Indian startups.

From 2022 to 2023, there has been US$20 billion bilateral trade between Malaysia and India, said Abhay Karandikar, India’s Secretary of the Department of Science and Technology.

The Indian startup landscape is a diverse and dynamic ecosystem, home to 111 unicorns as of October this year.

According to the press release, the startup network in India has propelled India to become the world’s third largest startup ecosystem.

Bridging the world

Interestingly, India has also established numerous international “startup bridges” with other countries.

According to a #startupindia page, which is by the government of India’s ministry of commerce and industry, there’s an India-Saudi Startup Bridge, India-Taiwan Startup Bridge, India-Italy Startup Bridge, India-Canada Startup Bridge, India-Singapore Startup Bridge, and many more.

Essentially, these bridges aim to enable startups, investors, incubators, and aspiring entrepreneurs of both countries to connect with one another and provide them with resources to expand.

As a part of these bridges, #startupindia has pages that lists out go-to-market information for the country in question.

For example, for the India-Singapore Startup Bridge site, there are direct links to Singapore’s tax systems, deeptech opportunities, visa processes, company incorporation processes, and more.

To serve Malaysian entrepreneurs as well, the page also has links to information on India’s business landscape and startup ecosystem.

At the time to writing, there isn’t an India-Malaysian Startup Bridge webpage as of yet.

Featured Image Credit: Datin Malliga Subramaniam, Chair of IASS; Dato’ Sri Dr. S K Devamany, Senior Advisor of IASS 2023; H.E. Mr. P. Kumaran, Vice Minister of External Affairs, Government of India; YB Datuk Arthur Kurup, Deputy Minister of Science & Technology and Innovation, Government of Malaysia; H.E. B N Reddy, India High Commissioner to Malaysia