Petroliam Nasional Bhd (PETRONAS) has selected a total of 20 Malaysian deep technology startups to participate in the PETRONAS FutureTech 2.0 programme. These 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.
Following the first edition of the programme in 2019, two startups have successfully become the investees of PETRONAS Ventures and seven are now working closely with the company on the business front.
The FutureTech 2.0 is an intensive technology accelerator programme led by PETRONAS in collaboration with Telekom Malaysia Bhd (TM), Sime Darby Plantation Bhd (SDP) and global venture capital firm 500 Startups.
The programme aims to provide Malaysian startups with an opportunity to gain insights from industry experts. It will help startups to discover, nurture and scale deep technology innovation in Malaysia.
Starting from today, the 20 selected startups will participate in a 12-week virtual programme which includes:
In addition, they will focus on creating commercial opportunities with the corporations and accelerate the commercialisation path through many potential collaborations.
At the end of the 12-week programme, the 20 startups will present their innovations and traction to potential investors and industry stakeholders on Demo Day. The chosen startups will continue to work closely with Petronas and the collaboration partners. They will run and complete potential pilot projects jointly to validate the technology with the business division within these companies.
According to a statement, Head of PETRONAS Ventures Arni Laily Anwarrudin said the FutureTech 2.0 underlines PETRONAS’s commitment to position itself as a progressive energy and solutions partner to deliver innovative, game-changing and sustainable actions in facing the energy transition as well as consumer demand.
Meanwhile, FutureTech 2.0 received 369 applications from homegrown deep technology startups this year. The total applications is more than double of 165 applications from the first edition.