KUALA LUMPUR — Malaysia’s Top 100 technology startups collectively generated RM8.5 billion in revenue in the financial year 2024 (FY2024), with an average compound annual growth rate (CAGR) of 87 per cent, according to the Malaysia Top 100 Startups – 2026 Edition.
The publication, launched today by Cradle Fund Sdn Bhd (Cradle), an agency under the Ministry of Science, Technology and Innovation (MOSTI), highlights Malaysian technology startups that have demonstrated business growth, commercial traction and the ability to scale beyond the domestic market.
Cradle said the publication is a data-led recognition rather than a ranking, providing an overview of startups based on business performance and growth.
The findings indicate a maturing startup ecosystem, with companies increasingly building sustainable and scalable businesses.
According to the publication, 36 of the Top 100 startups recorded more than RM1 million in net profit, with some achieving the milestone as early as the pre-seed and seed stages.
Meanwhile, 58 of the Top 100 startups are already operating in regional and global markets, while artificial intelligence (AI) and data-driven businesses account for 66 per cent of the companies featured.
MOSTI Minister Datuk Chang Lih Kang said the publication reflected the progress made by Malaysia’s startup ecosystem, particularly in terms of business performance and international expansion.
“The Top 100 marks another step forward, recognising not just potential but 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,” he said.
Cradle Group Chief Executive Officer Norman Matthieu Vanhaecke said the latest edition highlighted the progress made by Malaysian startups in building sustainable businesses and achieving profitability while maintaining strong growth.
“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,” he said.
He said 33 of the Top 100 startups had 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,” he said.
The publication also features an “Honourable Mentions” section recognising established companies that have contributed to the development of Malaysia’s startup ecosystem, as well as a “Startups to Watch” section highlighting founder-led companies in deep technology and emerging technologies.
Cradle said the Top 100 were assessed using FY2024 financial data from the Companies Commission of Malaysia (SSM), its startup database and direct submissions from companies.
The assessment took into account indicators including revenue growth, commercial traction and scalability, alongside funding and valuation data.
The publication is intended as a reference for founders, investors, policymakers and ecosystem builders seeking insights into companies contributing to Malaysia’s technology and innovation economy.
The Malaysia Top 100 Startups – 2026 Edition is available at the Malaysia Startup Ecosystem portal.
