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Source: Thailand Startup News  Aug 31, 2019

Malaysia’s Petronas Collaborates with 500 Startups To Launch Petronas FutureTech Accelerator

Malaysia’s Petronas Collaborates with 500 Startups To Launch Petronas FutureTech Accelerator
Source: Thailand Startup News  Aug 31, 2019
Malaysia’s largest oil and gas company, Petronas has announced a collaborative partnership with global investor 500 Startups  to launch the first technology accelerator in Malaysia.



The project , called Petronas FutureTech, aims to discover and nurture home-grown technology entrepreneurs, scale them up to global standards, as well as build and influence the tech-driven startup ecosystem in the country and to ensure that at number of startups are churned out each year.

The focus themes for this first batch are Industry 4.0, specialty chemicals and advance materials, future of energy, digital transformation, retail innovation and also AI based platforms. Up to 20 local startups will be shortlisted selected to undergo an intensive 2 month  programme.

The programme includes lectures, workshops, technical support, coaching with mentors from Silicon Valley, and 500 Startups’s global network, as well as experts from Petronas’s businesses and the oil and gas industry. The selected startups will also be taught various aspects of the startup cycles of funding and also entrepreneurial skills.

At the end of the programme in November, the startups will pitch their to Petronas, investors, potential collaborators, and the media. The top three startups will then proceed to participate in a global immersion programme to deepen their expertise in business development as well as taking up opportunities to go global. There will also be funding opportunities for selected startups.

The selected startups would gain access to Petronas’s resources, experts and reach of the Fortune Global 500 organization. Applications for the programme are now open until September 16, 2019. The programme is only restricted to startups that are incorporated in Malaysia but founder scan be foreigners.

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