Calling all Malaysian deep tech startups! PETRONAS has just announced the second edition of its technology accelerator programme, PETRONAS FutureTech 2.0. This time, it is teaming up with TM and Sime Darby Plantation as well as its previous partner, global venture capital firm 500 Startups.
In a media statement, PETRONAS said that it aims to encourage local innovations and scale up home-grown technology startups to be at par with international standards. The focus themes for FutureTech 2.0 are Industry 4.0, Specialty Chemicals and Advance Materials, Future of Energy, Digital Transformation and Retail Innovation.
The first edition was held two years ago, where it funded two startups. They are robotics and automation for agriculture technology startup Braintree Technologies Sdn. Bhd and sustainable energy startup SOLS Energy Sdn. Bhd.
According to Head of PETRONAS Ventures, Arni Laily Anwarrudin, it is working closely with the Ministry of Science, Technology and Innovation (MOSTI) via the latter’s National Technology Innovation Sandbox (NTIS) program.
Meanwhile, Sime Darby Plantation’s Chief Strategy & Innovation Officer, Dr. Shariman Alwani said that it is looking forward to working with startups that can help it overcome its various challenges and pain points.
Tengku Muneer Tengku Muzani, Chief Strategy Officer of TM said that it is excited to use this platform to accelerate digital innovation by leveraging on the partners’ strengths.
Shortlisted startups in FutureTech 2.0 will undergo an intensive 12-week virtual programme from September, which includes masterclasses, workshops and coaching from 500 Startups’ mentors as well as C-suite and experts from PETRONAS, TM and SDP.
These startups will have the opportunity to accelerate their business solutions via a proof of concept (POC) and get access to insights and resources from the GLCs.
Applications for FutureTech 2.0 are now open until 27 July 2021. Interested startups can get more details on the programme and apply via https://ecosystems.500.co/petronas-future-tech.
