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KUALA LUMPUR: The Ministry of Science, Technology and Innovation (Mosti) is developing a Startup Development Roadmap with the target of creating 5,000 companies including five unicorn startups by 2025, Dewan Negara was told today.

‘Unicorn’ is a term to refer to a privately held startup company valued at over US$1 billion (RM4.18 billion)

Minister Datuk Seri Dr Adham Baba (pix) said Mosti will also set up a comprehensive platform known as MyStartup by the end of the year to boost the development of startups in Malaysia.

“This can be achieved through an ecosystem that connects various agencies and relevant ministries in aspects such as funding, training and guidance,“ he said during the winding-up session of the Yang di-Pertuan Agong’s royal addressy.

Dr Adham said home-grown unicorn company Carsome Malaysia, which received RM14 million in funding from Mosti through Mavcap Bhd, has also received funding from various venture capital agencies such as 500 Startups and Gobi Partners that allows it to penetrate and expand its network into regional markets in Indonesia, Thailand and Singapore.

“Malaysia also has a thriving local company providing drone services, namely AeroDyne Group Malaysia,“ he said.

Dr Adham said Mosti has invested RM25 million in the company through its financing agencies.

“With Mosti’s investment, Aerodyne has grown from fifthin the world to become the number one drone remote-sensing service provider as reported by the Drone Service Provider Ranking 2021 Report,“ he said.

On the recognition of Covid-19 vaccination certificates between Malaysia and Singapore, he said Mosti, together with the Ministry of Health, the Ministry of Foreign Affairs and the National Cyber Security Agency, held discussions with Singapore to recognise each other’s vaccination certificates.

He said both countries agreed on July 6 to recognise each other’s vaccination certificates and the relevant policies and technologies are being refined. – Bernama

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