KOTA KINABALU – MyStartup, the portal developed by MyCradle Fund to connect various industries to build a high-impact industrial cooperation, only registered 24 start-up companies from Sabah since it was launched on November 18 last year.
Science, Technology, and Innovation Minister Datuk Seri Adham Baba said the number is very low compared to the 2,227 companies nationwide which had registered under MyStartup over the same period of time.
“Although the number of start-up companies registered at the MyStartup portal has been good, the number of start-ups from Sabah is still low,” said Adham during the launching of the MyStartup East Malaysia regional roadshow for Sabah here today.
Adham said he was informed by MyCradle Fund that start-ups in Sabah faced challenges, from lack of technical guidance from the start to the implementation stage.
“This is why we will be promoting aggressively in Sabah. We are targeting to reach 50 start-ups this year from Sabah,” he said.
Government-linked MyCradle Fund provides early-stage funding to aspiring entrepreneurs to obtain recognition and respect for excellence in service and product offerings.
The MyStartup programme organised by MyCradle Fund and launched in February this year is focussed on ensuring start-ups are thoroughly guided from the ideation stage to training and funding support, and are provided the opportunity to highlight their company profiles in the MyStartup platform to attract foreign investors.
It is implemented under the supervision of the Science, Technology, and Innovation Ministry, and its agencies.
It aims to guide start-ups to better meet challenges from new markets, apart from providing matching funding based on the different start-ups’ needs and backgrounds, while further enhancing their competitiveness and marketability. – The Vibes, August 24, 2022
