Nexea, Allianz General and Exitra collaborate to foster startup growth through Innovative-Startup Corporate Matching Programme

• Past cohorts have secured a total of US$1 million in funding
• Program pairs startups with corporates to explore new markets, form partnerships

Nexea has announced a collaboration with Allianz General Insurance Company (Malaysia) Berhad, Exitra, and several other major corporations for the Startup-Corporate Matching Programme. In a statement, the Venture Capital and Startup Accelerator said the main objective of this partnership is to connect startups with well-established corporations and innovative tech companies for potential collaboration to foster groundbreaking innovation in Malaysia's startup ecosystem and beyond.

The combined resources and expertise of Nexea and Allianz, along with Nexea’s collaboration with Exitra, shape a dynamic entrepreneurial landscape by utilizing collective knowledge. These partnerships not only leverage unique abilities but also open up possibilities for creativity, expansion, and achievements.

The Startup-Corporate Matching Programme, an exclusive initiative by Nexea, utilizes its expertise and network to pair startups with corporations for exploring new markets and forming partnerships, joint ventures, investments, and acquisitions.

“All startups looking to collaborate with corporates should apply to leverage the support that large corporations can provide. Our invested startups have received revenues, millions in investments, and strong long-term partnerships with startup-friendly corporates, giving them an advantage over their competitors,” said Ben Lim (pic), CEO & Founder of Nexea.

Enrolling in this programme offers startups numerous benefits, including securing corporate clients, building relationships with potential acquirers, enhancing collaboration capabilities, and potentially securing investments or strategic partnerships.

“We are thrilled to enter into our fifth year of collaboration with Nexea. We recognise the continued value Nexea brings to the Malaysian startup community. As a leading insurance brand worldwide, we are happy to extend our support. This collaboration has helped grow our partnership with local start-ups over the past few years.” said Sean Wang, CEO of Allianz General.

Each year, the programme matches 30 startups with 10 corporate partners, introducing each startup to five to ten corporations, which results in an average of five successful collaborations. The programme runs for five months, ensuring a focused and efficient partnership process. According to Nexea, past cohorts have significantly benefited, collectively securing US$1 million (RM4,500,000) in funding.

Startups from various industries and stages of development are invited to participate, provided they have a minimum viable product and a clear value proposition for corporate partners. Selected startups will take part in a wide array of activities, including workshops, mentoring sessions, pitching events, and networking opportunities with corporate partners and other important stakeholders. These activities aim to boost the startups' growth and integration into the corporate world, equipping them with valuable resources and connections to drive their success.

“Exitra's partnership with Nexea aligns perfectly with our vision of fostering innovation and driving sustainable growth," said Kevin Teoh, COO at Exitra. "We believe that by working closely with local startups, we can identify and invest in groundbreaking technologies and business models that will shape the future.”

He added that as part of this partnership, Exitra will be actively scouting for startups with high growth potential, focusing on areas such as data-driven solutions, large language modeling, data warehousing, IoT for monitoring transparency, and industry-specific applications in healthcare, hospitality, and logistics.

The programme welcomes applications from startups across a range of sectors, such as fintech, insurtech, blockchain, e-commerce, property, FMCG, logistics, environment, waste and water management, and hospitality. By connecting with over 80 corporations within these industries, the programme provides opportunities for entrepreneurs to develop innovative solutions and form valuable partnerships.

For Startups keen to learn more about the programme, visit Startup Corporate Matching Programme.