FUELLED with the goal of increasing the success rate of startups, Startup Genome, made up of a team of entrepreneurs and researchers in California, in partnership with Global Entrepreneurship Network (GEN) based in Washington have produced the Global Startup Ecosystem Report (GSER 2018) to provide insights into the health of startup ecosystems around the globe.
The ambitious report provides insights into investment and policies from over 10,000 founders in 45 cities - including Kuala Lumpur. The report delves deep to identify leading startup sub-sectors and provide insight on founder mindset and local connectedness of startup ecosystems.
The GSER 2018 serves as an extension of last year's report with new metrics and findings introduced to supplement GSER 2017. The latest report places emphasis on the importance of founder mindset and local connectedness within a startup ecosystem. In GSER 2017, focus was shone upon global connectedness and the four-stage ecosystem lifecycle model.
Statistics in GSER 2017 show that only 10% of customers for startups in Kuala Lumpur come from outside of the country, which is 13% less than the global average, indicating a strong local market but also challenges in reaching a global market.
by: Kiranjit Kaur Sidhu