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Petronas FutureTech 2.0 welcomes 20 Malaysian startups to accelerate innovation

KUALA LUMPUR, Aug 26  -- Petronas has selected 20 startups to participate in the second edition of its technology accelerator programme, Petronas FutureTech 2.0, that aims to encourage local innovations and scale up home-grown technology startups to be at par with international standards.

In a statement today, the national energy company said the programme received positive response from promising deep technology startups, with total applications more than doubled to 368 compared to 165 for the first edition in 2019.

“The 20 startups were chosen for their innovations to potentially solve challenges and uncover opportunities in Industry 4.0, specialty chemicals and advanced materials, future of energy, digital transformation and retail innovation.

 “The Petronas FutureTech 2.0 programme is in collaboration with Telekom Malaysia Bhd (TM), Sime Darby Plantation Bhd (SDP) and global venture capital firm 500 Startups,” it said.

Petronas Ventures head Arni Laily Anwarrudin said Petronas’ collaboration with TM and SDP aims to provide homegrown startups with opportunities to gain insights from industry experts that will help them discover, nurture and scale deep technology innovations in the country. 

“The FutureTech 2.0 underlines Petronas’ commitment to position itself as a progressive energy and solutions partner ready to deliver innovative, game changing and sustainable actions in facing the energy transition as well as consumer demand.

“We look forward to enabling them in gaining new capabilities and skillsets, and support them in bolstering their ventures and readiness for the future,” she said.

Arni Laily added that through this partnership with TM, SDP and 500 Startups, the company is excited about the prospects of collaboration and commercial opportunities with the 20 selected startups.

Starting from Aug 30, 2021, Petronas said these startups will take part in a 12-week virtual programme which includes masterclasses, workshops and coaching from 500 Startups’ global network of mentors, as well as experts from Petronas, TM and SDP.

“At the end of the 12-week programme, these startups will present their innovations and traction to potential investors and industry stakeholders.

“The chosen startups will then continue to work closely with Petronas, TM and SDP in running and completing potential pilot projects to validate the technology with business divisions within these companies,” it added.

-- BERNAMA

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