Tech in Asia, Southeast Asia’s leading online media platforms, hosted its inaugural Tech in Asia Conference at the Hilton Hotel in Kuala Lumpur from July 24 to 25, 2024. This landmark event signifies a momentous first for the country, bringing the best of the company’s signature events to Malaysian soil. The conference, held in partnership with MyStartup by Cradle and Amazon Web Services (AWS), successfully attracted a diverse crowd of over 1,600 attendees from across Southeast Asia.
The conference theme, “Malaysia on the Rise,” perfectly captured the country’s burgeoning presence and exciting future in the Southeast Asian tech scene. Often overlooked in previous discussions, Malaysia boasts a dynamic and resilient ecosystem with a strong foundation for significant growth.
There were a total of 10 partner booths and 50 Startup Factory booths set up throughout the event, fostering a vibrant exchange of ideas as participating exhibitors showcased their solutions. Tech luminaries from various sectors convened to discuss, connect, and explore ways to unlock and harness the immense potential that Malaysia possesses.
Maria Li, Chief Operating Officer of Tech in Asia said, “Malaysia’s startup scene is experiencing a surge of momentum. With the recent launch of the KL20 Action Plan, the Malaysian government has sent a clear message: they’re all in on fostering a thriving startup ecosystem. This strong support, coupled with the country’s vibrant talent pool and strategic location, creates a fertile ground for innovative startups to flourish in Southeast Asia.”
“We at Tech in Asia are thrilled to be a part of this exciting journey. By bringing our signature conference to Malaysia for the first time, we aim to contribute to the momentum and connect the brightest minds in the region. This year’s conference reflects our genuine belief in the country’s potential to become a major force in Southeast Asian tech, and we look forward to witnessing the incredible innovations and collaborations that will undoubtedly emerge from this event,” Li added.
Malaysia’s startup scene continues to demonstrate its resilience. While global funding trends have shifted in 2023, Malaysian startups still managed to secure over US$86 million in investments. This figure, though lower than the record-breaking US$975 million raised in 2022, marks the first year of positive funding since the pandemic began. This highlights the sustained confidence investors hold in the long-term potential of Malaysia’s dynamic tech ecosystem.
The inaugural Tech in Asia Conference in Malaysia kicked off with an engaging opening session, and the day continued on to feature a stellar lineup of renowned speakers. Notable figures such as Khailee Ng, Managing Partner of Global 500, offered a compelling perspective on Malaysia’s growing prominence in the Southeast Asian tech scene. Stephanie Sitt, Founder and Chairwoman of Pixlr, provided valuable insights for entrepreneurs with her unique take on “Building a Successful Bootstrapped Startup.”
Attendees also had the privilege to hear from industry leaders such as Dione Song, CEO of Love, Bonito and Moses Lo, CEO of Xendit, who shared their respective experiences with expanding into new markets. Dr. Sivapalan Vivekarajah, Co-Chairman of Proficeo – Soonicorn Collective, and Carmen Yuen, General Partner of Vertex Ventures Southeast Asia & India offered valuable insights into “Spotting Soonicorns: What makes the next big startup.”
The event continued with a focus on Malaysia’s burgeoning startup scene. Minister of Science, Technology and Innovation YB Tuan Chang Lih Kang spoke about Malaysia’s plans to become a startup powerhouse, driving growth not just at home, but in ASEAN and beyond.
“With all our local efforts in uplifting the Malaysian startup ecosystem, it is now time to scale beyond Malaysia,” said YB Tuan Chang Lih Kang. “As we prepare for our role as ASEAN Chair in 2025, I’m honoured to share that MOSTI, through Cradle, will be spearheading the ASEAN Startup Initiative. Endorsed by the ASEAN Committee on Science, Technology, and Innovation (COSTI) in June 2023 with a recent update at ASEAN COSTI-85 in early June 2024, this initiative aims to foster startup ecosystems across the region through economic integration and inclusive development.”
Eric Cheng, co-founder and CEO of Carsome, Malaysia’s first unicorn, offered a glimpse into the company’s journey so far, the opportunities he sees for the future, and how Carsome stays ahead of the game. Adding to this local perspective, Kamarulazaman Muhamed, founder and group CEO of Aerodyne, a company on track to unicorn status, shared his insights on navigating change and seizing new opportunities in the drone tech sector, which has the potential to revolutionise various industries.
This focus on Malaysia’s potential resonates with Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle, the title sponsor for the event. He said, “Malaysia occupies a truly unique space in the Asian tech landscape. It’s both a magnet for established players and a springboard for ambitious startups looking to expand regionally or even globally.”
“At the same time, its diverse population and geography make it an ideal testing ground for innovative ideas and products. We are incredibly excited to be the title partner for Tech in Asia Conference 2024 as it allows us to be at the forefront of fostering this dynamic ecosystem and supporting the incredible talent that Malaysia has to offer,” Vanhaecke added.
The conference also brought back its popular flagship programs this year – Investor Hour, Startup Factory, and Startup Arena Pitch Battle. Investor Hour and Startup Factory provides a dynamic environment for deal flow and industry connections. Founders gained valuable insights and potential funding through bespoke investor meetings in Investor Hour, while the Startup Factory will showcase 50 of Southeast Asia’s most innovative startups, attracting potential customers, investors, and partners.
For the first time ever, Startup Arena Pitch Battle introduces a Star Mentors lineup to – Joel Neoh from First Move, Carmen Yuen from Vertex Ventures, Kevin Sutantyo from Sovereign’s Capital, Chrissy Hu from 500 Global, and Samuel Simanjuntak from Monk’s Hill Ventures). Participants will receive invaluable guidance and support as they prepare their pitches for the finale.
Startups will also have the opportunity to present their groundbreaking ideas to a panel of esteemed judges and a captivated audience. Startups participating in the Startup Arena Pitch Battle are from Entomal Biotech, Healthpro, Belli, Surplus Indonesia and Future Farms.
This year’s judging panel boasts heavyweights from the investment world, including Bikesh Lakhmichand, founding partner at 1337 Ventures, Neil Fong, Managing Director at Burda Principal Investments, Juliana Jan, Senior Vice President of Grant & Investment at Cradle, and Rachel Lau, Managing Partner at Iris Capital Partners. For the full agenda of the Tech in Asia Conference 2024, please visit: https://conference.techinasia.com/
