Kuala Lumpur: Malaysia aims to register 5,000 new startup companies by this year, according to Science, Technology and Innovation Minister Chang Lih Kang. He said the target is in line with the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030 and noted that there are currently 4,415 startups registered.
According to BERNAMA News Agency, Chang mentioned that the country is on track to achieve its target and hopes to exceed it. He expressed these views while speaking to reporters after the launch of Versa Quests, a feature in the Versa app, a digital wealth management platform. He emphasized the ministry’s commitment to support homegrown startups like Versa by providing coaching and connecting them with potential investors and customers.
The ministry offers grants, including CIP SPARK and CIP SPRINT, through Cradle Fund to eligible companies to facilitate their growth. Meanwhile, Versa’s chief executive officer, Teoh Wei Xiang, stated that the launch marks the company’s transition from a transactional platform to an experiential one. By incorporating ‘quests’ and gamification, the platform aims to make learning about finance and wealth management more engaging.
Versa Quests is designed to enhance the saving experience for users by offering ‘booster rewards’ through various challenges, enabling higher net returns on their accounts. Versa has seen significant growth in three years, with nearly 300,000 users and over RM500 million in assets under management in 2024.
Versa’s ambassador, Khairy Jamaluddin, highlighted that Versa Quest aligns with his goal of providing young Malaysians with opportunities to save and invest. He shared his personal experience with the platform and noted that many of its products are Shariah compliant, which boosts confidence among Muslim investors.
The launch of Versa Quests was officiated by Tengku Arif Temenggong Pahang Tengku Fahd Mua’adzam Shah Sultan Ahmad Shah. The event was also attended by Deputy Digital Minister Datuk Wilson Ugak Kumbong and Versa chairman Datuk Noorazman Abd Aziz.