With a sound foundation in science and technology education, Penang should be able to reap the rewards for which it has dedicated time and investments. We take a quick look at the numbers on startups and the resources needed for an optimum environment.
The e-commerce sector is the most popular for startups, while social enterprise and service and consulting slightly trail behind (Figure 1). The e-commerce sector contains big names such as online auction site Lelong.my and fashion shopping website FashionValet. Ridehailing company Grab has a total equity funding of US$680mil, making it one of the largest companies in the services industry.
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