Petronas picks 20 high-potential local, foreign startups for FutureTech accelerator initiative
FutureTech 4.0 is run together with SP Setia Bhd, Xplor Ventures, the corporate venture arm of PTTEP, Bosch Business Innovations and Living Lab Ventures Indonesia.
The selected startups, drawn from Malaysia, Singapore, Thailand, Hong Kong, Japan, Australia and the United States, will focus on developing solutions for the future of industry and work, the energy transition, and advancements in chemicals and materials.
Petronas senior vice president of corporate strategy Marina Md Taib said the programme continues to create new opportunities for collaboration between corporates and startups, aimed at advancing sustainable progress across various sectors.
"The diversity and technology strengths of this year's participants highlight the growing innovation ecosystem in the region," she said in a statement.
The participating companies were shortlisted following a Pitch Day, where they were evaluated on factors such as market readiness, strategic fit and their potential to help address challenges tied to the energy transition.
Besides the 20 external startups, three teams from Petronas' in-house innovation platforms namely Petronas Innovation Garage and SEEd.Lab, will also join the accelerator.
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