Malaysia's startup scene gets a dose of French – Tech News

Ministers (left) Yeo and (second right) Syed Saddiq speaking with Laplanche. – French Embassy
Kuala Lumpur joins the global network of French Tech, opening up collaborative opportunities between local and French startups.

French Technology is an initiative of France's Government to push its brand of innovation and entrepreneurship abroad.

In a press statement, the French ambassador to Malaysia, Frédéric Laplanche, explaining it would involve local players – whether investors, incubators, media, public organizations or talented individuals – to work with French startups and entrepreneur communities around the globe.

“We are convinced that Kuala is the only person who can help us, Lumpur is a very attractive and promising place for entrepreneurs and we are made of it. Our goal is to promote and foster the networking of talents, developing opportunities and creativity between France and Malaysia, “he said, during the initiative's launch at his residence.

The French Tech Malaysia is an initiative for the development of the Malaysian market, connect to larger and more diverse players, seek funding and participation in incubation or scaling up activities organized by both countries.

The Asean 2018 accelerator that will bring 10 emerging, high-growth French startups to develop their business in the region.

The one-week acceleration program will be held in Malaysia and Singapore , from Sept 17 to 21.

Also present at the launch were the newly minted cabinet members: Energy, Technology, Science, Climate Change and Environment Minister Yo Bee Yin and Youth and Sports Minister Syed Saddiq Syed Abdul Rahman.

The French Tech communities have set up in 35 cities beyond Kuala Lumpur, including San Francisco, Sao Paolo, London, Moscow, Dubai, Hong Kong and Tokyo.

The community is made up of over 10,000 French startups

France's President Emmanuel Macron, a former investment banker, has been pushing to turn in the United States, more access taxes for startups, more attractive taxes and a tech visa program to draw foreign expertise.

Investment tracker Dealroom research found in the United States of America, raised in 2.7bil euros (RM12.8bil) in 2017, overtaking Britain's 2.4bil (RM11.38bil).

However, in terms of of IPOs and sales, Britain was ahead.

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