KUALA LUMPUR, April 24 -- The two-day KL20 Summit 2024 spearheaded by the Economy Ministry wrapped up yesterday, marking Putrajaya's latest step to establish the country in the top 20 global startup hubs by 2030.

During the summit, Prime Minister Datuk Seri Anwar Ibrahim launched the KL20 Action Paper, described as a roadmap outlining tangible reforms to bring together founders, venture capitalists (VCs), talent, incubators and accelerators.

Several initiatives were also announced set to attract startups, founders and VCs to set up shop in Malaysia in a bid to incubate high-quality local startups.

The summit saw three high-tech companies and 12 VCs announcing their presence in Kuala Lumpur, in addition to three sovereign and semiconduc...