The Ministry of Science, Technology and Innovation (MOSTI), together with Cradle, has now announced a latest initiative which aims to elevate ASEAN countries as major players in the development of startup companies at the global level. So, what should you know about it?

For your information, this move is also in line with Malaysia's chairmanship of ASEAN in 2025. The Startup-Asean website was also launched in line with the announcement of this initiative. Under this initiative, it aims for ASEAN member countries to strengthen startup-friendly policies, while also increasing the availability of ecosystems to drive collaboration and synergy within the ASEAN region.

This is also expected to foster innovation and collaboration among developers in the region indirectly. In parallel with this, Cradle is also expected to introduce regional hackathon programs targeting sectors such as Artificial Intelligence, as well as sustainability and climate technology. Today, it is said that there are over 11,000 regional startups, with the ecosystem value reaching $131.2 billion.

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