MALAYSIA UNVEILS TOP 100 STARTUPS WITH RM8.5 BILLION IN FY2024 REVENUE

Startups demonstrate stronger profitability, global reach and adoption of AI and data-driven technologies

KUALA LUMPUR, Malaysia, Oct. 28, 2026 /PRNewswire/ -- The 100 Malaysian technology startups featured in the Malaysia Top 100 Startups – 2026 Edition collectively generated RM8.5 billion in revenue for FY2024, recording an average compound annual growth rate (CAGR) of 87%, according to the publication launched by Cradle Fund Sdn. Bhd. (Cradle), an agency under the Ministry of Science, Technology and Innovation (MOSTI).

The inaugural publication recognises Malaysian technology startups that have demonstrated business growth, commercial traction and the ability to scale beyond the domestic market. It is a data-led recognition, not a ranking, providing a perspective on companies demonstrating tangible business performance and growth.

The findings point to a maturing ecosystem, with startups increasingly building sustainable, scalable businesses. 36 of the Top 100 recorded more than RM1 million net profit, with some reaching this milestone as early as the Pre-Seed and Seed stages. Beyond Malaysia, 58 of the Top 100 are already operating across regional and global markets. Artificial intelligence and data-driven businesses account for 66% of the Top 100, highlighting the growing role of advanced technologies in driving business growth and innovation.

YB Datuk Chang Lih Kang, Minister of MOSTI, said "Malaysia's startup ecosystem has come a long way. The Top 100 marks another step forward, recognising not just potential but a proven performance. These startups reflect the strength of our talent, the maturity of our ecosystem, and the ambition of Malaysian innovators to compete beyond our borders, in line with our aspiration to position Malaysia among the world's top startup ecosystems by 2030."

Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle, said "What stands out from this edition is the progress that Malaysian startups are making in building sustainable businesses and achieving profitability, while still maintaining a very strong growth trajectory. This strong performance across the Top 100 highlights the unique strength of Malaysian founders and the depth of talent across our ecosystem.

With 33 startups of the Top 100 having received Cradle funding through grants or investments, we are proud to have played a part in supporting companies at different stages of their journey, alongside the wider ecosystem of investors, corporates, institutions and partners," added Norman.

Beyond the Top 100, the publication also features an "Honourable Mentions" section recognising established players that have helped shape Malaysia's startup ecosystem, alongside a "Startups to Watch" section spotlighting founder-led companies at the frontier of deeptech and emerging technology, marking them as ones to follow in future editions.

The Top 100 were assessed by Cradle using the FY2024 financial data from the Companies Commission of Malaysia (SSM), Cradle's startup database, and direct company submissions. The assessment considered indicators such as revenue growth, commercial traction, and scalability to provide a broader view of startup performance along with funding and valuation.

The publication is intended as a reference for founders, investors, policymakers and ecosystem builders, offering insights into the companies contributing to Malaysia's technology and innovation economy.

Discover the Malaysia Top 100 startups shaping our innovation landscape. Download the 2026 Edition at https://www.mystartup.gov.my/insights/malaysia-top-100-startups-2026-edition/template1

SOURCE MINISTRY OF SCIENCE, TECHNOLOGY AND INNOVATION; CRADLE FUND SDN BHD