- Midwest Nanomaterials and Shadebase AI were given more funds.
- Companies have raised US$ 58 million investments and US$ 185 million in revenue since commencement.
” Malaysia has made great strides in establishing itself as a hub for innovation and entrepreneurship, and programs like the Cyberview Living Lab Accelerator ( CLLA ), are instrumental in achieving this mission”, said Chang Lih Kang, minister of Science, Technology and Innovation ( MOSTI ) at the accelerator’s cohort 19 Demo Day in Cyberjaya, yesterday. The 19th Demo Day likewise marked the accelerator’s 10th anniversary.
” Since its inception in 2014, the accelerator has been instrumental in empowering over 129 startups, securing more than US$ 58.40 million ( RM263 million ) in investments and generating an impressive US$ 185.88 million ( RM837 million ) in revenue”, he said.
Remaining unwavering
Regardless, he also said,” we remain steadfast in the commitment to creating an environment that nurtures innovation and entrepreneurship through initiatives such as the Malaysian Startup Ecosystem Roadmap ( SUPER ) 2021-2030 and the My Startup Platform, aiming to empower startups, facilitate collaboration and drive commercialization of innovation solutions” . ,
The secretary also emphasized the significance of Cyberjaya, which is Malaysia’s world’s leading technology hub and playground, and how important it is to fulfill this mission.
” It is not just a physical spot, but a living, breathing habitat where thoughts flourish, alliances are forged, and options are scaled. By bridging the gap between technology and effect across all balance sheets, Chang praised the Cyberview Living Lab program.
Cohort 19
Romli Ishak ( pic ), chairman of Cyberview, in his remarks, said,” Over the past decade, this program has gone on to become one of Malaysia’s longest running accelerators, serving as a launchpad for local tech startups to bring their ideas to life and accelerate their journey towards commercialization”.
For Cohort 19, around 90 companies had applied for the system with 24 chosen. As part of CLLA 19, they were finally given access to resources and seminars.
After a five-month progressive support and approach, 10 startups were chosen for the video time:
- Midwest Nanomaterials
- Pixelence
- Shieldbase AI
- IOXTECH Global
- Reyhut
- Wiser Machines
- Airlytic
- ALT Synergy
- Vee Smart Home
- Vidanex
Out of the top ten, six obtained a total investment sum of US$ 241, 181 ( RM1.085 million ):
- Midwest Nanomaterials (RM240,000)
- Shieldbase AI ( RM225, 000 )
- IOXTECH Global ( RM100, 000 )
- Reyhut ( RM320, 000 )
- Wiser Machines ( RM100, 000 )
- Airlytic ( RM100, 000 )
Shieldbase AI received more recognition as both judges and group favourite, receiving an extra RM5, 000 and Baht, 3000 both.
Midwest Nanomaterials was awarded an additional RM3,000 for being a partner’s favourite by Leave a Nest Malaysia, a unit of Leave a Nest, a leading Japanese startup ecosystem partner.
Muhammad Adrian Wong, who was a part of CLLA’s first group back in 2014 and attended the 19 Cohort Demo Day, said,” The occasion was great, the quality of startups that had pitched are more developed now in the sense that the founders, CEOs, and CTOs are quite experienced, their products are very developed”.
He also noted that the startups have gained market recognition as a result of winning competitions and receiving grants in addition to seasoned leadership teams. These startups have also previously won numerous awards and competitions, according to Adrian.