KUALA LUMPUR, Nov 22 (Bernama) -- PETRONAS hosted the FutureTech 2.0 Accelerator Digital Demo Day today, wrapping up an intensive 12-week virtual programme that saw Malaysia’s brightest startups undergo masterclasses, workshops and coaching by mentors and experts from PETRONAS, Telekom Malaysia (TM), Sime Darby Plantation (SDP) and 500 Global.
At the event,
20 deep tech startups pitched their business solutions virtually to venture capitalists, top executives from Malaysian government agencies and Government-linked companies and key members of the Malaysian and regional start-up ecosystem.
The startups presented solutions related to artificial intelligence (AI), drones, robotics, automation, the Fourth Industrial Revolution (IR4), digital platforms, AgriTech, FoodTech, renewable energy, and HR tech. They were given the opportunity to work with business mentors to identify potential collaborations for business solutions via proof of concepts (POC) or pilot projects. Following the Demo Day, these startups will be equipped with newly gained resources and insights to accelerate their business solutions in Malaysia and beyond.
The selected startups from this year’s demo day - Boom Grow, Bumi Data Mining and e-Komoditi will take part in a five-day immersion programme hosted by 500 Global in Singapore early next year. The immersion experience aims to strengthen their business development efforts as well as further enable expansion opportunities into new markets.
FutureTech was first launched in 2019 to encourage local innovations and support Malaysian startups to succeed in the global marketplace while serving PETRONAS’ business needs.
“Following the success of the 19-strong startup cohort of the inaugural FutureTech Accelerator programme, we are excited to continue expanding the potential of the startup community here in Malaysia. Supported by the commitment from PETRONAS and partners TM, SDP and 500 Global, these startups will drive innovation by leaps and bounds ahead of their peers,” said Arni Laily Anwarrudin, Head of PETRONAS Ventures.
“We are at the critical juncture where corporates must rapidly innovate to remain competitive. When immersed with the creative startups that possess agility and innovative ideas, the combined collaboration is expected to harness immense technological advancement for everyone” Arni added.
Realising the impact from the first programme, PETRONAS recognised bigger prospects towards nation-building and saw collaboration with major technology-driven corporations such as TM and SDP as a way to enrich the ecosystem. Through FutureTech 2.0, TM and SDP are able to leverage on a single platform to engage with the nation’s entrepreneurs directly as well as advance their innovation agenda.
TM Chief Strategy Officer, Tengku Muneer Tengku Muzani commented, “TM is driven towards building a Digital Malaysia. As we evolve to become a human-centred technology company, our relationship with participating startups will become even more meaningful to create a thriving technology-driven ecosystem. Together with PETRONAS and SDP, we truly hope to discover Malaysia’s next unicorn.”
SDP Chief Strategy & Innovation Officer, Dr Shariman Alwani Mohamed said co-innovating with new startups allows the Company to tap into new ideas and synergies that can help resolve its pain points.
“Throughout FutureTech 2.0, our top leaders worked side-by-side with selected startups to assess their proposed solutions via proof-of-concepts, as well as explore pilot study and projects that we can collaborate with them. As a result, we are excited to have identified opportunities in multiple areas, including new product applications as well as efficient solutions for digital monitoring of oil palm estates and mills operations which are valuable in our aim to push towards precision agriculture,” he added.
“One thing we often hear from startups is that it can take a week to present their solutions to a corporation, but two years to scope a proof-of-concept,” said Ee Ling Lim, Regional Director of Asia Pacific, 500 Global. “We’re proud to see FutureTech delivering on its mission of providing an efficient platform for startups to connect with the right decision-makers in the corporate sphere, gain direct access to the industry experts, fast-track the process of collaborative innovation, and turn hypothesised proof-of-concepts into commercial realities.”
The first of its kind in Malaysia, the FutureTech Accelerator programme was conceptualised to offer scaling up opportunities to startups in Malaysia’s burgeoning deep tech ecosystem. PETRONAS Ventures funded two startups from the first cohort – robotics and automation for agriculture technology startup Braintree Technologies Sdn. Bhd and sustainable energy startup SOLS Energy Sdn. Bhd.
About PETRONAS We are a dynamic global energy group with presence in over 50 countries. We produce and deliver energy and solutions that power society’s progress in a responsible and sustainable manner.
We seek energy potential across the globe, optimising value through our integrated business model. Our portfolio includes cleaner conventional and renewable resources and a ready range of advanced products and adaptive solutions.
Sustainability is at the core of what we do as we harness the good in energy to elevate and enrich lives. People are our strength and partners for growth, driving our passion for innovation to progress towards the future of energy sustainability.
About TM Telekom Malaysia Berhad (TM), is the national connectivity and digital infrastructure provider and Malaysia’s leading integrated telco; set to enable Digital Malaysia by offering a comprehensive suite of communication services and digital solutions in fixed (telephony and broadband), mobility, content, WiFi, Cloud, Data Centre, cybersecurity, IoT and smart services. TM is driven by stakeholder value creation in a highly competitive environment; and places emphasis on delivering an enhanced customer experience via continuous customer service quality improvements and innovations, whilst focusing on increased operational efficiency and productivity.
As the enabler of Digital Malaysia, TM has been at the forefront of each telecommunication technology evolution of the nation, and will continue to do so. It provides the communications backbone of Malaysia and is a digital hub for ASEAN; with the widest convergence connectivity network and digital infrastructure. TM remains committed to serve a more digital lifestyle and society, digital businesses and digital Government – towards making, “Life and Business Easier, for a better Malaysia”.
For further information on TM, visit
www.tm.com.my About Sime Darby Plantation Sime Darby Plantation is the world’s largest producer of Certified Sustainable Palm Oil (CSPO), with a CSPO production of 2.097 million MT (as of 31 December 2020).
As a fully integrated global plantation company, SDP is involved in various activities along the full spectrum of the palm oil value chain, including upstream plantations, downstream operations, Research & Development, renewables and agro-business. Its upstream operations are spread across Malaysia, Indonesia, Papua New Guinea and the Solomon Islands. Its downstream business, known as Sime Darby Oils, spans across 14 countries worldwide and involves the manufacturing as well as the sales and marketing of oils and fats products, oleochemicals, palm oil-based biodiesel, nutraceuticals and other palm oil derivatives.
With a workforce of over 85,000 employees and a strong focus on operational excellence, research, innovation and sustainability, Sime Darby Plantation is one of the largest companies on Bursa Malaysia with a market capitalisation of RM25.86bn (USD6.10bn) as of 17 August 2021.
About 500 Global500 Global is a venture capital firm that invests early in founders building fast-growing technology companies. We focus on markets where technology, innovation, and capital can unlock long-term value and drive economic growth. 500 Global has backed over 6,000 founders representing more than 2,500 companies operating in 77 countries. Our portfolio includes 33 companies valued at more than $1 billion and 120 companies valued at over $100 million. Our team members are located in more than 15 countries and bring experience as entrepreneurs, investors, and operators from some of the world’s leading technology companies.
Issued by:
PETRONAS SOURCE : PETRONAS
FOR MORE INFORMATION, PLEASE CONTACT:
PETRONAS
Name : Estee Aina Huslan
Tel : +6012 228 3377
Email : esteeaina.huslan@petronas.com
--BERNAMA 
