PETRONAS, in collaboration with its corporate partners, has selected 20 high potential startups for the fourth edition of its FutureTech accelerator programme.
The selected startups representing seven countries, including Malaysia, Singapore, Thailand, Hong Kong, Japan, Australia, and the United States, are advancing innovative solutions aligned with the programme’s three key themes: Future of Industry and Work, Future of Energy and Future of Chemicals and Materials.
PETRONAS Senior Vice President of Corporate Strategy, Marina Md Taib said, 'Each edition of FutureTech by PETRONAS unlocks new synergies between corporates and startups not only for the energy industry but also for industries committed to driving progress for society responsibly, and sustainably.'
'The diversity and technology offerings from this year’s cohort demonstrate the strength of innovation emerging across the region. We look forward to this journey of collaboration between corporates, ecosystem partners and startups to meaningfully nurture a thriving innovation landscape,' she added.
The startups were selected following a Pitch Day, where each team presented to a multi-disciplinary jury panel. Selection was made based on commercial readiness, strategic fit and potential to address multisector energy transition pain points.
In addition to the 20 selected startups, three ventures from PETRONAS’ internal innovation initiatives – PETRONAS Innovation Garage and SEEd.Lab will also join the FutureTech 4.0 cohort – complementing technology focused innovations with socially driven solutions.
All 23 startups will now undergo a 12-week hybrid accelerator programme offering teams with coaching, tailored mentorship, pilot opportunities in real world environment and access to regional and global markets.
The programme kicked off with an Immersion Week in Kuala Lumpur, held alongside Energy Asia from 16 to 18 June. It will conclude with Demo Day, where startups will present to PETRONAS, corporate partners, investors, and potential collaborators.
PETRONAS FutureTech 4.0 is run in collaboration with corporate partners, S P Setia Bhd, Xplor Ventures the Corporate Venture Capital (CVC) arm of PTTEP, Bosch Business Innovations and Living Lab Ventures Indonesia the Corporate Venture Capital (CVC) arm of Sinar Mas Land.
For more information on FutureTech 4.0 and the 23 startups, visit: https://www.petronas.com/ventures/futuretech
Source: PETRONAS
