Petronas, a Malaysia state-owned oil major, has started the second edition of its technology accelerator programme for local startups.
The Petronas FutureTech 2.0 accelerator is run by venture capital firm 500 Startups and has partnerships in place with government-linked companies Telekom Malaysia and Sime Darby Plantation.
The themes for the batch are industry 4.0, future of energy, digital transformation, retail innovation and specialty chemicals and advanced materials.
Arni Laily Anwarrudin, head of Petronas Ventures, said: “Following the success of the first FutureTech programme in 2019, we foresee bigger prospects towards nation-building, and collaborating with major corporations is the right way to further nurture the ecosystem for Malaysian startups.”
Petronas Ventures funded two companies from the first cohort: sustainable energy startup Sols Energy and Braintree Technologies, a developer of robotics and automation for agriculture technology.
Applications for FutureTech 2.0 are open from now until July 27: https://ecosystems.500.co/petronas-future-tech
