PETRONAS has announced the selection of 20 startups from across Asia Pacific to participate in the third edition of PETRONAS FutureTech, an intensive technology accelerator program.
FutureTech 3.0, “co-organized with StartupX Pte. Ltd., a Singapore-based innovation, venture and startup enabler, marks a significant milestone as it welcomes startups and partners from the region for the first time.”
The 20 startups were “selected from a competitive pool of applicants representing Malaysia, Singapore, Indonesia, India and Australia.”
The selected startups “offer innovative solutions such as a no-code robotics programming platform, green chemistry advancement, EV battery swapping technology, hydrogen storage equipment, supercharging electrolysers, an AI-enabled platform for carbon emission monitoring, waste-to-renewable energy technology and sustainable products derived from mushrooms.”
Head of PETRONAS Ventures, Arni Laily Anwarrudin said:
“At PETRONAS, we are dedicated to support the growth of startup founders and fostering collaboration and innovation between multi-industry corporations and startup technology companies. We welcome the new FutureTech 3.0 cohort, which represents a diverse range of interesting technologies Corporates are actively seeking. Through the programme, we hope to impart industry best practices while providing startups greater market access for growth and scalability across the region. By embracing forward-thinking approaches driven by technology, PETRONAS is committed to developing sustainable solutions that will drive positive change and contribute to a greener and more resilient future.”
In addition to the 20, 5 startups from PETRONAS’ internal innovation program, PETRONAS Innovation Garage and SEEd.Lab will also be “joining the FutureTech 3.0 cohort.”
This collaboration is “expected to create a blend of technology and social development solutions.”
FutureTech 3.0’s 16-week hybrid program will “commence with an industry immersion week in Kuala Lumpur and Singapore that involves experiential learning and physical site visits.”
The startups will also be “given an opportunity to showcase their solutions and offerings to an international audience at Energy Asia 2023 from 26 to 28 June in Kuala Lumpur.”
Since its launch for entries in February 2023, FutureTech 3.0 has “welcomed seven new corporate partners, including Gentari Sdn Bhd, Tenaga Nasional Berhad, DRB-HICOM Berhad, Sembcorp Industries Ltd, Hyundai Motor Company, Vitol and Khazanah Nasional Berhad.”
The program will also be “supported by ecosystem partners, namely Cradle, Malaysian Research Accelerator for Technology & Innovation (MRANTI), Malaysia Digital Economy Corporation (MDEC), Malaysian Industry-Government Group for High Technology (MIGHT), Microsoft, Amazon Web Services (AWS), SG Innovate, Leave a Nest Group, National Technology & Innovation Sandbox (NTIS), MyStartup and Tata Consultancy Services (TCS).”
The program has already “demonstrated its potential, with three ventures from past two cohorts receiving investments from PETRONAS Ventures and over 20 companies collaborating with PETRONAS on the business front.”
For more details on this update, click here.