PETRONAS FutureTech 3.0 shortlists 20 local Asia Pacific Startups

PETRONAS FutureTech 3.0 shortlists 20 local Asia Pacific startups

By Digital News Asia June 28, 2023

Startups are from Malaysia, Singapore, India, Australia
Additional 5 startups from Petronas' internal innovation programme

PETRONAS FutureTech 3.0 shortlists 20 local Asia Pacific startups

PETRONAS has announced the 20 startups from across the Asia Pacific selected to participate in the third edition of Petronas FutureTech intensive technology accelerator programme.

The 20 startups were selected from a pool of applicants representing Malaysia, Singapore, Indonesia, India, and Australia.

The selected startups offer solutions such as a no-code robotics programming platform, green chemistry advancement, EV battery swapping technology, hydrogen storage equipment, supercharging electrolysers, an AI-enabled platform for carbon emission monitoring, waste-to-renewable energy technology, and sustainable products derived from mushrooms.

PETRONAS FutureTech 3.0 shortlists 20 local Asia Pacific startups "We welcome the new FutureTech 3.0 cohort, which represents a diverse range of interesting technologies Corporates are actively seeking," said Arni Laily Anwarrudin (left), head of Petronas Ventures, .

In addition to the 20 startups shortlisted, an additional five startups from Petronas' internal innovation programme, Petronas Innovation Garage and SEEd.Lab, will also be joining the FutureTech 3.0 cohort.

FutureTech 3.0 is co-organised with StartupX and is the programme's first iteration open to startups and partners from the region.

A snapshot from the first two cohorts of FutureTech accelerator.

The 16-week hybrid programme will commence with an industry immersion week in Kuala Lumpur and Singapore that involves experiential learning and physical site visits. The startups will also be allowed to showcase their solutions and offerings to an international audience at the ongoing Energy Asia 2023 that ends June 28 in Kuala Lumpur.

Since its launch for entries in February 2023, FutureTech 3.0 has welcomed seven new corporate partners, including Gentari Sdn Bhd, Tenaga Nasional Bhd, DRB-HICOM Bhd, Sembcorp Industries Ltd, Hyundai Motor Company, Vitol and Khazanah Nasional Bhd.

The programme will also be supported by ecosystem partners, namely Cradle, Malaysian Research Accelerator for Technology & Innovation (MRANTI), Malaysia Digital Economy Corporation (MDEC), Malaysian Industry-Government Group for High Technology (MIGHT), Microsoft, Amazon Web Services (AWS), SGInnovate, Leave a Nest Group, National Technology & Innovation Sandbox (NTIS), MyStartup and Tata Consultancy Services (TCS).

Three ventures from the past two cohorts have received investments from Petronas Ventures, and over 20 companies are collaborating with Petronas on the business front.

The 20 shortlisted startups and the five five startups from Petronas' internal innovation programme that will be a part of FutureTech 3.0 are: