Petronas Ventures, the corporate venture capital arm of Malysia’s oil and gas major, Petronas, has teamed up with Singapore-based startup enabler, StartupX, to organise Petronas FutureTech 3.0.
FutureTech 3.0 is the third edition of the accelerator programme aimed at nurturing technology startups and accelerating ideas into real-world business solutions.
It is open for registration to applicants in the Asia Pacific region, expanding beyond Malaysia for the first time.
The company said it will focus on solutions in the Future of Industry and Work, Chemical and Materials, Energy and Mobility and Frontier Technology, emphasising sustainability-related technology solutions.
Petronas Ventures’ Head, Arni Laily Anwarrudin said the partnership with StartupX will allow participants to tap into the “vast entrepreneurial experience” and C-Suite mentorship as well as access to the right tools, support, resources and the opportunity to test-bed their solutions.
Twenty shortlisted startups will undergo a 12-to-16-week hybrid programme from May 2023, including masterclasses, workshops and coaching by corporate partners, industry mentors, and global entrepreneurs.
With seven new corporate partners on board – Gentari Sdn. Bhd., Tenaga Nasional Berhad, DRB-HICOM Berhad, Sembcorp Industries Ltd, Hyundai Motor Company, Vitol and Khazanah Nasional Berhad, – the programme is expected to impart industry best practices while providing startups greater market access for growth and scalability across the region.
It will culminate into a Demo Day at the end of August 2023, where the shortlisted startups will get to pitch their solutions to the C-suites of Petronas and its Corporate Partners, investors, and potential collaborators, among others.
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