KUALA LUMPUR, Oct 10 -- The Ministry of Entrepreneur Development is expecting a bigger allocation in Budget 2020 which will be tabled tomorrow for its efforts to develop local entrepreneurs.

Its minister Datuk Seri Mohd Redzuan Mohd Yusof said this was in line with the aspirations of the National Entrepreneurship Policy 2030 (DKN2030) to turn Malaysia into a true entrepreneurial nation.

"One of my hopes is also to make sure we are aligned with streamlined digitisation of the budget, so that as a ministry, we know what to measure.

"Our DKN2030, for example, stresses on measurable outcome and we want to use that to gauge where we are as we move towards 2030," he told reporters after officiating the Malaysia Rice Bowl Startup Awards here today.

Speaking at the event, Mohd Redzuan said entrepreneurs, especially hi-tech startups, were a valuable source of innovation that would be among key generators of the nation's economic output, employment, and dynamism.

"The development and wealth derived from this economic growth should be equally distributed so that all segments of society can benefit from it," he noted.

Malaysia is the first country to announce its Rice Bowl Winners for 2019, offering 13 different categories which include Best Life Helper, Best e-Commerce and Supply Chain, and Best Newcomer.

Among notable winners from Malaysia last year were iflix, Carsome, Dropee and JomParking.

The winners of other countries will be announced in their respective award ceremonies in October and November, and each national winner is allowed to participate in the regional finale, the ASEAN Rice Bowl Startup Awards early next year.

The ASEAN Rice Bowl Startup Awards which enters its fifth year, aims to connect regional economic community to power up their local economies with startups and scaleups.

Its chairman Hamdi Mokhtar, said the award has received more than 3,000 nominations across Southeast Asia this year, a 60 per cent increase from last year.

-- BERNAMA