KUALA LUMPUR, Malaysia’s technology startup sector recorded RM8.5 billion in combined revenue for the 2024 financial year, with 100 selected companies reporting strong growth, profitability and expansion into international markets.
The figures were highlighted in the Malaysia Top 100 Startups – 2026 Edition, launched by Cradle Fund Sdn Bhd, an agency under the Ministry of Science, Technology and Innovation (MOSTI).
According to the report, the featured startups recorded an average compound annual growth rate (CAGR) of 87%. CAGR measures how quickly a business grows on average over a period of time.
36 Startups Record More Than RM1 Million in Net Profit
The report highlights signs that Malaysia’s startup ecosystem is building more sustainable businesses.
Of the 100 startups featured, 36 recorded more than RM1 million in net profit. Some achieved this milestone during their pre-seed or seed stages, which are the early phases of a startup’s development.
In addition, 58 companies have expanded their operations into regional or international markets. This shows that many Malaysian startups are seeking business opportunities beyond the domestic market.
AI and Data Businesses Drive Innovation
Artificial intelligence (AI) and data-focused businesses account for 66% of the startups featured in the report.
The figure highlights the growing role of AI and data-driven technology in business development, innovation and efforts to improve competitiveness.
The publication also covers companies across emerging technology fields, including deep technology and life sciences.
Cradle Supports Startup Growth
Cradle Group Chief Executive Officer Norman Matthieu Vanhaecke said the findings reflect progress in building sustainable businesses while maintaining strong growth.
He also noted that 33 of the featured startups had received support from Cradle through grants or investments.
The publication was developed using financial data for FY2024 from the Companies Commission of Malaysia, Cradle’s startup database and information submitted directly by companies.
The assessment considered business growth, commercial performance and the ability to expand operations. It was designed to recognise companies with demonstrated business results rather than rank them in a league table.
Report Aims to Connect Startups With Investors
The Malaysia Top 100 Startups – 2026 Edition is intended to help founders, investors, policymakers and other industry players understand the country’s technology startup landscape.
By highlighting companies with established business performance, the publication could also help potential partners identify Malaysian startups for investment and collaboration.
The initiative supports Malaysia’s wider ambition to strengthen its position as a competitive startup ecosystem by 2030.
Source: PR Newswire | Rewritten By Minutesmy
Picture Credit : PR Newswire
