The Johor state government has announced that funds for startups will be allocated in its 2020 budget.
The funds will be focused on ensuring more companies from Johor are able to participate in digital activities (e-trading).
“I cannot say in detail as to how we (state government) will assist as the Johor 2020 Budget has yet to be tabled. But, what is certain is, there will be a system for us to assist from the aspect of funding. How the fund will be distributed is to be announced later.", mentioned Jimmy Puah Wee Tse, Committee Chairman of International Trade, Investment, and Utility.
There is an estimated of 50 startup companies in Johor presently, most located in Iskandar Puteri.
Puah also mentioned that discussions with market players are on-going to understand issues faced by startups, with a priority on assisting them grow regionally.
"Although there is a startup community at present in Johor, they are not focused."
“In this regard, I feel the ecosystem is very narrow and this will delay the growth of the Johor startups, ” he added.