Kuala lumpur: Unit Peneraju Agenda Bumiputera (TERAJU) needs to be a 'growth facilitator' that connects bumiputera companies to real opportunities, and not just focus on being a provider of programmes or financing. Economy Minister Akmal Nasrullah Mohd Nasir emphasized the need for this strategic shift to ensure that bumiputera companies can expand, boost their revenue, and access new markets.
According to BERNAMA News Agency, Akmal underscored that success should not be solely gauged by the number of programmes or participants. Instead, it's crucial to evaluate whether the assisted companies have increased their revenue, created quality jobs, attracted private investments, and entered new markets. He made these remarks at the TERAJU Startup Ecosystem Engagement Session: Voice, Vision and Aspiration, where TERAJU CEO Junady Nawawi was also present.
Akmal highlighted that while many bumiputera startups have developed products and secured initial customers, they face hurdles such as lack of growth capital, weak governance, and limited management talent. He stressed that support should extend beyond the initial launch, with the ecosystem providing ongoing funding, mentoring, governance strengthening, and market access, particularly during challenging growth phases.
"In line with the KL20 Action Plan and the Malaysian Startup Ecosystem Roadmap, our goal is to produce more local companies that are high-tech, resilient and have the potential to become industry leaders," Akmal said. He also mentioned the importance of helping bumiputera companies penetrate beyond the domestic market, emphasizing ASEAN and the global market as spaces for growth.
Furthermore, Akmal stated that a mature ecosystem must connect companies to financing, customers, corporate partners, and the broader market. The government aims to strengthen this ecosystem through structured collaboration among ministries, agencies, investors, financial institutions, corporate companies, and industry players.
Junady Nawawi added that TERAJU measures a startup's success by its ability to grow, innovate, create value, and contribute to the national economy, rather than just the initial support received. He emphasized that building a company is a long journey, with challenges such as acquiring customers, building strong teams, entering new markets, attracting investment, and scaling the business.
To address these challenges, TERAJU continues to bolster its support for startups through initiatives like SUPERB Coach and Grow, TERAJU Venture Spotlight, and various engagement series. These initiatives aim to connect startups with investors, strategic partners, and industry players.
Junady noted that the TERAJU Startup Ecosystem Programme: Voice, Vision and Aspiration provides a platform for bumiputera startups to give direct feedback on their challenges and needs at every phase of business growth.