7 Entrepreneurship Trends In Malaysia That We Predict We'll See In 2020

Author Topic: 7 Entrepreneurship Trends In Malaysia That We Predict We'll See In 2020  (Read 1407 times)

Offline Sultan Mahmud Sujon

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1. Higher Government Funding For Digital & Hard Tech Startups

Funding has been one of those things I’ve seen countless entrepreneurs complain about.

We’ve all heard of Malaysian startups who started here but soon began searching for investments and funds from other countries. Some of them even moved overseas, where they grew immensely.

But in 2020, let’s hope the government will pick up its efforts in supporting Malaysian entrepreneurs, not only through policies, but monetarily as well.

2. Existing Social Enterprises Will Gain More Recognition, And New Ones Will Crop Up
About a month ago, the MaGIC 2019 E-Nation Symposium took place, cutting across 6 pillars with the theme “Shaping An Entrepreneurial Nation”.

One of those pillars was social entrepreneurship.

More and more entrepreneurs are becoming aware that it is no longer enough for them to simply offer a product or service for strictly financial profits.

3. Out With Buying And In With Renting
Is renting the way of the future? It would seem so, as over the years we’ve slowly seen startups that offer rental services crop up here and there.

Most commonly, there is a significant number of property and vehicle rental startups, which leaves us spoilt for choice.

4. Coworking Spaces For All Sizes
It’s alright, we all tend to assume that the only people who actually use coworking spaces are either freelancers or SMEs.

Which isn’t untrue, but it would appear that corporates are actually also beginning to see the appeal and benefits of working in coworking spaces, despite already having offices.

5. Working With The Giants, Not Against Them
Carving out your own path to success alone is difficult, no matter what you do.

I believe that partnerships and collaborations make the world go round, and many startups we’ve written about depend on them to elevate their growth.

Many businesses who are leaders in their industry have already built a whole ecosystem for themselves, so other companies can be resourceful and leverage that.

At Startup Outlook 2020, an intimate event, the panellists shared the example of how hotel booking platform Agoda has now put up its services on Grab’s app to leverage its huge user base.

6. Looking Out For Mother Earth And Her Tenants
As mentioned earlier, consumers are becoming more conscious of what they’re spending their money on.

Besides socially impactful businesses, they tend to spend on eco-friendly businesses too (which aren’t necessarily social enterprises).

Since joining Vulcan Post, I’ve published several articles on local edutech startups who are doing a variety of things for students and teachers alike.

One example was Anak2U that developed an app to help teachers cut down the time spent on admin work in schools. This enables the teachers to focus better on their students and optimise the learning process.

Another edutech startup we just recently wrote about is Arteca. They manufacture educational block based toys and robotics kits for children to learn Science, Technology, Engineering, Arts and Mathematics (STEAM) in school.

Our education system is still deeply flawed in so many ways, but more entrepreneurs are beginning to step up and address certain issues with tech.

There’s a lot of focus on the quality of education too, which is one of the pillars MaGIC wants startups to address.

Hence my prediction that 2020 will bring us more edutech startups with targeted visions and missions in making changes to our education system.

Source: https://vulcanpost.com/685162/entrepreneurship-trend-predictions-malaysia-2020/?fbclid=IwAR1Ce32MRc9cgVk7_f_ARC9-9jvVki6rzfeJ9S0nFcFJqlqC-Agy6I1SRwU