Anyone with a working knowledge of business in the Asia Pacific region will be aware of the ways Kuala Lumpur is emerging as a start-up hub, especially if you’re in with the up and coming crowd of entrepreneurs. It was also rated as the top 11 tech cities in Asia
However, it hasn’t always been that way. A while back, many top businesses in Kuala Lumpur were pulling out of the local scene and heading for Singapore, Australia or the United States to seek bigger and better opportunities. This is likely due to the small local market and low use of mobile in the region in the past.
Despite that, start-ups are once again showing strength and potential. A visit to startups-list.com shows plenty of start-ups are based in Kuala Lumpur now, giving hope to others who may have great ideas of their own, or investors looking to break into the local market. The fact that the city’s business scene is once again starting to heat up is likely due to the ways the government agencies, local entrepreneurs and the technology community has worked in unison to improve the landscape from a business perspective.
Kuala Lumpur is also home to a number of events designed for networking and idea sharing between entrepreneurs and start-up employees, leading to innovative ideas that will only encourage the local ecosystem to grow. Additionally, due to the popularity of start-ups once again, Start-up Malaysia has introduced the innovation and expertise of Silicon Valley to Kuala Lumpur through internships, start-up programs, workshops and events.
Start-ups looking to get their feet off the ground may find themselves with more government support than they’d expect. Many start-ups in recent years have received funding and grants through various schemes run by government agencies as well as from angel investors and private venture capitalists.
An example of this is the Cradle Fund – the first development and technology commercialization funding programme in Malaysia. The programme aims to provide aspiring entrepreneurs with the funding and support to turn their ideas into real ventures and attain commercialization. Cradle have been offering this scheme since 2003 and it is still helping new businesses today.
Much help have also been dished out for entrepreneurs and startup companies for leasing offices with several incentives under the MSC scheme, if companies lease space in MSC certified buildings. You can easily locate MSC zones and buildings in KLCC area, KL Sentral , Petaling Jaya and Cyberjaya etc.
If you’ve recently set up a business in Kuala Lumpur, of if you’re hoping to move to the city and follow your business ambitions, renting a serviced or flexible office space should be the first way to establish or expand a company.