Together with its partners, Petronas has welcomed 20 new promising startups to the fourth iteration of FutureTech, an accelerator programme.
Petronas is based in Malaysia, but the selected startups come from a range of countries. The programme focuses on solutions that progress one or more of its key themes, namely the Future of Chemicals and Materials, Future of Energy and Future of Industry and Work.
Marina Md Taib, the senior VP for corporate strategy at Petronas, said the programme promoted new collaboration between startups and industrial corporations, with an interest in advancing sustainability and social responsibility. She added:
“The diversity and technology offerings from this year’s cohort demonstrate the strength of innovation emerging across the region. We look forward to this journey of collaboration between corporates, ecosystem partners and startups to meaningfully nurture a thriving innovation landscape.”
Petronas, which is also a maker of industrial lubricant products like turbine oil, chose the startups following a pitch day. A panel of judges from multiple disciplines made decisions based on each proposition’s potential for addressing problematic points in the energy transition, strategic fit and commercial preparedness. A further three ventures were also included from the internal initiatives driving innovation at Petronas.
FutureTech 4.0 will now involve a hybrid accelerator programme for the 23 ventures over 12 weeks. The starting immersion week of this coincided with Energy Asia, which was held on June 16–18 in Kuala Lumpur. On completing the programme, the ventures will pitch to Petronas and other interested corporate players.
