The Invention Lab, a Korean startup accelerator, has recently entered into a Memorandum of Understanding (MOU) with Malaysia’s Sunway iLabs to facilitate the entry of Korean startups into the Malaysian market. 

Sunway iLabs, established in May 2017 through a collaboration between the Sunway Group and Sunway University, is dedicated to creating a sustainable startup ecosystem in Malaysia by providing essential resources such as talent, market access, and investment opportunities.

This agreement marks the beginning of a strategic partnership that explores cooperation across various fields. It includes initiatives such as joint investments in deep tech and climate tech, co-developing and managing open innovation programs centered in Malaysia, and integrating Korean startups selected by the TIPS program with Sunway iLabs or jointly operated open innovation programs.

Minsoo Kim, Director of The Invention Lab, highlighted the significance of this partnership, saying, “Partnering with Sunway iLabs marks a crucial step in facilitating the entry of Korean startups into Malaysia, a major hub in Southeast Asia. This strategic partnership is instrumental as we approach the 65th anniversary of our diplomatic ties with the region. Through this alliance, we aim to develop a sustainable business model that will support Korean startups in successfully entering the Malaysian market.”

Furthermore, following the launch of ‘Startup-VN.com‘ in November—a platform offering comprehensive insights into Vietnam’s startup ecosystem—The Invention Lab announced plans to significantly boost support for Korean startups expanding into Southeast Asia, with a particular focus on Vietnam and Malaysia next year.