PETRONAS FutureTech To Bring Malaysian Startups On Global Stage

KUALA LUMPUR, Aug 30 (Bernama) -- PETRONAS invites local startups to take part in PETRONAS FutureTech, a technology accelerator programme to encourage local innovations and support Malaysian startups to succeed in the global marketplace.
 
The programme, the first of its kind in Malaysia, aims to discover and nurture home-grown technology entrepreneurs, scale them up to global standards as well as build and influence the tech-driven startup ecosystem in the country.
 
PETRONAS has partnered with 500 Startups (500), a Silicon Valley venture capital seed fund and accelerator, to select up to 20 local startups to undergo an intensive 8-week programme.
 
The programme includes lectures, workshops, coaching with mentors from Silicon Valley and 500’s global network, as well as experts from PETRONAS’ businesses and the oil and gas industry.
 
At the end of the programme in November, the startups will pitch their creative solutions to PETRONAS, investors, potential collaborators and the media. 
 
The top three startups will then participate in a global immersion programme to deepen their expertise in business development as well as taking up opportunities to go global.
 
The selected startups would gain access to PETRONAS’ resources, experts and reach of the Fortune Global 500 organisation.
 
The close collaboration between PETRONAS and the startups will serve as an exposure for the startups to accelerate their business solutions to meet PETRONAS’ business needs.
 
The focus themes for this first batch are Industry 4.0, Specialty Chemicals and Advance Materials, Future of Energy, Digital Transformation and Retail Innovation.
 
Applications for the PETRONAS FutureTech accelerator programme are now open until September 16, 2019.  Interested startups can apply as well as get more information on the terms and conditions via petronas.500.co  
 
About PETRONAS
 
Established in 1974, Petroliam Nasional Berhad (“PETRONAS”) is Malaysia’s fully integrated oil and gas multinational ranked among the largest corporations on FORTUNE Global 500®. As the custodian of Malaysia’s national oil and gas resources, we explore, produce and deliver energy to meet society’s growing needs. The growing demand for energy inspires and strengthens our purpose to steadily drive for new solutions and push boundaries towards a sustainable energy future.
 
For further information, please visit www.petronas.com
 
About 500 Startups
 
500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. It is one of the most active venture capital firms in the world.

Since its inception in Silicon Valley, 500 Startups has invested in over 2,200 companies via its four(4) global funds and 15 thematic funds dedicated to either specific geographic markets or verticals. Its 100+ team members are located in 20 countries around the world to support the 500 Startups global portfolio of investments, which spans more than 74 countries.

Notable 500 portfolio companies include: Twilio (NYSE: TWLO), Credit Karma, SendGrid (acquired by Twilio), Grab, GitLab (acquired by Microsoft), Bukalapak, Canva, Udemy, TalkDesk, Intercom, Ipsy, MakerBot (acquired by SSYS), Wildfire (acquired by Google), and Viki (acquired by Rakuten).

Beyond providing seed capital, 500 supports startups via their Seed Accelerator Programs which emphasise digital marketing, customer acquisition, lean startup practices, and fundraising for pre-Seed companies. 500 Startups further contributes to the development of innovation ecosystems by supporting startups and investors through educational programs, events, conferences, and partnerships with corporations and governments around the world.

Issued by
Media Engagement Department
Group Strategic Communications
PETRONAS

Source: PETRONAS

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Praevitriana Yuliawiratman
Tel: +6019 214 4056
Email: praevitriana.yuliaw@petronas.com

Name: Fadwa Kingsbury
Tel: +1 415 592 4203
Email: fadwa@500.co 

--BERNAMA