In a statement today, Cradle said the ecosystem value measures the city’s economic impact from the value of exits and startup valuations.

It said Kuala Lumpur also received recognition in the latest Global Startup Ecosystem Report (GSER) 2024, placing it among the top 30 emerging ecosystems, which reflects its rapid growth and substantial economic impact.

Cradle group CEO Norman Matthieu Vanhaecke said these achievements underscore the efforts and strategic initiatives to foster a conducive environment for startups.

“Malaysia has viewed startups as a pivotal force in driving local innovation and technological advancement,” he said, adding that Cradle seeks to combine the resources and experiences of all ecosystem stakeholders.

He added that with a consistent commitment to cultivating a high-performing, inclusive, globalised, and sustainable ecosystem, Cradle envisions propelling Malaysia to the forefront of the global startup ecosystem.

According to the GSER 2024 report, Kuala Lumpur’s ecosystem has also achieved notable rankings in several key areas within Asia, namely the Top 15 Asia Ecosystems in Funding, the Top 20 Asia Ecosystems in Performance, and the Top 20 Asia Ecosystems in Talent and Experience.

The statement said Kuala Lumpur’s ecosystem is ranked among the Top 25 Asia Ecosystems in Affordable Talent and the Top 30 Asia Ecosystems in Bang for Buck and Educated Talent.

It cited ease of doing business as a reason for startups to consider moving to this ecosystem.

Cradle is Malaysia’s startup ecosystem agency under the finance ministry, administered by the science, technology and innovation ministry (Mosti).