When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.”
With time, the perception towards business has changed. You will see people looking for ways to give their ideas a face. Entrepreneurship has gained ground, and people have moved away from traditional 9-5 jobs. But, can all such businesses be termed as start-ups? I guess not. So, before we move on to the top 10 Malaysian start-ups, let me give you an idea about the concept.
Start-Up Companies in Malaysia
There’s always a starting point for a company or business. Multinationals have also started small and paved their way to success. A start-up can be defined as a company in its early stages of operations. It is generally a brainchild of one or more entrepreneurs who believe the product or service they are offering will have a huge demand in the near future. You need a lot of money to begin a start-up, and most start-ups rely on external investors for smooth operations.
Don’t get confused when you see a Accounting Assignment Help writer working independently. That is not a start-up. Refer to the definition above to understand the difference. So, let’s jump into the main subject-the top 10 Malaysian start-ups in 2021. Oh, wait! Why is Malaysia so important when it comes to start-ups? Read on to get an answer.
Start-up Culture in Malaysia: Why is the Country so Important?
Malaysia is regarded as the 11th emerging start-up ecosystem globally, and it could soon be on top of all other countries. The country is the home to major start-ups and has played a pivotal role in welcoming more start-ups. Kuala Lumpur is regarded as an ideal place for start-ups. The reasons being:
- Low costs
- High quality of living
- Progressive talents
- Fast-tracked visas
- Robust government support
The Malaysia Digital Economy Corporation (MDEC) has initiated several programs to push local tech companies and bring them to the global stage.
You can understand why start-ups are booming in Malaysia and why there’s a need to know the top 10 start-ups in the country. So, without much ado, let’s know about the companies that have made a name for themselves and will hold a crucial position in the future.
Know the Top 10 Start-ups that are Making a Buzz in Malaysia
As you can understand, Malaysia has invested a lot in bringing tech-driven companies to the forefront. As a result, start-ups have found a good place to begin their operations. Very few countries offer so much support to start-ups. The investments in start-ups in Malaysia are huge, and investors trust companies based out of Malaysia. Malaysian start-ups raised a massive US$226 million in the year 2019, of which approximately US$99 million went to early-stage funding.
So, here’s a look into the companies that are popular and have the potential to bring a major disruption in the market:
The company is a fintech company and has innovated how an employee can plan their finances. The platform allows employees to access their wages in real-time, and they can take what they earn any time. It is a great innovation in understanding finances and planning properly for the future.
Buying and managing insurance products has always been tough. PolicyStreet was founded in 2016 to solve this problem. The company has provided a platform to help users buy and manage their insurance products without hassles. It is a great input in the insurance sector and has helped customers understand and grab the right deals without complications.
Another Malaysian start-up that has made a name for itself is Dropee. The company has been operating since 2017 and has helped solve a major marketplace problem. The start-up offers a SaaS platform through which retailers can connect to various brands and place orders as per their requirements. It is a major innovation in the online marketplace and has received a good response from customers.
Malaysia has solutions to all problems. The start-ups have addressed major problems and brought the right solutions to all of them. Imortgage2u provides a platform to its business partners for proper and accurate pre-loan screening. It helps them understand their maximum loan eligibility. Businesses face genuine problems when it comes to taking loans. Hence, using the platform is beneficial.
CO3 Social Office
Office spaces need to have the elements to make people do the work and enjoy their stay in the office. CO3 Social Office provides office spaces and makes office spaces fun and enjoyable. The company has been operating since 2017 and has provided good office spaces and paved the way for new essay help business opportunities.
GuruLab was founded in 2021 and has helped re-invent interactive learning and is based out of Kuala Lumpur. The digital platform provides actionable insights for student engagement and helps in improving outcomes for students and teachers. Parents are also updated with the outcomes and progress through this platform.
Start-ups aim to solve major problems. Lapasar has addressed a major problem and has created a B2B platform for corporations to contact and arrange orders from suppliers across the whole country. The platform also comes with integrated procurement tools for better corporate governance of buyers.
Founded in 2016, Wowshop is an e-commerce marketplace that caters to all customers. You can get all goods and items fast once you start using Wowshop. The company has helped ease of problems with buying goods. Customers can get what they need at the click of a button.
The company claims to be Malaysia’s No.1 content aggregator. Founded in 2017, the company has brought in several contents and has given customers access to popular news and content. It is a major problem solver for people who do not have time to browse the internet to find information.
The cruelty against dairy animals is a major concern for people globally. Kind Kones is a Malaysian start-up that has addressed the issue and stepped forward to make vegan ice creams. The company started its operations in 2017 and has made a name for itself in the country.
Malaysia is a country that has always amazed people with beautiful surroundings and great places to visit. In addition to this, the country has proved to be one of the best places for businesses. The government is also very active in welcoming start-ups and helping them grow their business. The ones listed above are well-known in the country, but many other start-ups have started gaining ground and maximising their businesses.
To end with,
Start-ups might sound fun, but it is not easy to run one. You need a lot of patience and the power to handle pressure. The initial days are tough as you have to compromise on your revenue yet keep the business going. Other countries must look at Malaysia and work on ways to help start-ups maximise their business. Start-ups are a major part of a country and have the power to boost a country’s economy.