The fourth edition of Petronas accelerator programme is aimed at scaling innovative solutions that address real-world industry challenges and redefine the future of energy, according to Petronas.
KUCHING (March 29): Petroliam Nasional Berhad (Petronas) will shortlist 20 start-ups to undergo a 12-week accelerator programme under its FutureTech 4.0.
The fourth edition of Petronas accelerator programme is aimed at scaling innovative solutions that address real-world industry challenges and redefine the future of energy, according to Petronas.
“FutureTech 4.0, now open for applications, will focus on driving innovation and sustainability across three key categories namely Industry and work, energy and chemicals and materials,” said the national oil company in a statement yesterday.
“The shortlisted start-ups will gain access to masterclasses, tailored workshops and one-on-one mentorship and coaching.
“The programme will also provide business immersion with strategic partners, access to networks, new markets and funding opportunities as well as pilot and test-bedding initiatives to support the scaling of their start-ups.”
Petronas said FutureTech 4.0 would kick off with an ‘Immersion Week’, coinciding with Energy Asia this June, and culminating in a ‘Demo Day’ at the end of August.
During the ‘Demo Day’, start-ups would present their solutions to C-suite executives from Petronas and its corporate partners as well as investors and potential collaborators.
Petronas senior-vice president of corporate strategy Marina Md Taib, remarked: “We believe that innovation is key to shaping a sustainable future.
“Through FutureTech 4.0, Petronas aims to cultivate a culture of innovation and entrepreneurship, while nurturing a robust tech-driven start-up ecosystem in Malaysia and the broader Asia Pacific region.”
According to Marina, the programme offers start-ups a platform to develop solutions that address industry challenges and unlock new growth opportunities while contributing to long-term socio-economic transformation.
“With the support of our corporate partners, start-ups will have the opportunity to validate their innovations, scale their solutions, and make a meaningful impact towards energy transition efforts,” she added.
Petronas said the past three cohorts had registered over 900 applicants and supported the growth of 65 start ups.
“In collaboration with its corporate partners, S P Setia Bhd, Xplor Ventures the Corporate Venture Capital (CVC) arm of PTTEP, Bosch Business Innovations, the Bosch Group’s venture building arm, FutureTech 4.0 aims to drive innovation in the energy sector, foster the next generation of innovators, and empower start-ups to scale their solutions.
“The programme will also receive support from key start-up ecosystem partners including Malaysia’s Cradle Fund, Singapore’s SGInnovate, and Japan External Trade Organisation.”
Applications close this April 18. Interested start-ups can find out more about FutureTech 4.0 via https://www.petronas.com/ventures/futuretech4.0/
