Digital Penang’s 2024 Hardtech Incubator launches to make Penang a hub for hardtech and deeptech firms

Digital Penang's 2024 Hardtech Incubator launches to make Penang a hub for hardtech and deeptech firms
  • Seeks to promote popularization of hardtech &amp, deeptech options
  • Project features 8 Penang- based businesses &amp, academy research projects

Representatives from the eight participating startups for the Hardtech Incubator Programme

Digital Penang, a authorities- linked organization of the Penang State Government, has unveiled the resumption of the Hardtech Incubator Programme. This program, which is inspired by Penang2030’s perspective, aims to move hardtech and deeptech technical solutions, especially those that are transitioning from Technology Readiness Levels five to eight, more quickly.

The Hardtech Incubator Programme, according to Digital Penang, is meant to bridge the commercialization space, ensuring that revolutionary solutions can be brought to the business more effectively and efficiently. The initiative is structured into two main aspects: Incubation and Acceleration.

The Incubation stage focuses on preparing companies with essential business planning, evidence- of- concept ( POC ) development, and business verification strategies.

Participants will receive coaching and resources to use their POCs in the real world, participate in market confirmation activities, and work to gain market traction for their hardware-based solutions during the acceleration phase. Also, startups will be prepared for buyer engagement through seminars on funding strategies and sound presentations.

Eight Penang-based startups and college study projects are featured in this year’s program. Beyond Medicare Sdn Bhd, Bitranger Sdn Bhd, Nexada Technology Sdn Bhd, Wysetime Solutions Sdn Bhd, Wysetime Solutions Sdn Bhd, Zero Technologies Global, Redo Smart Enterprise, and research initiatives from Tunku Abdul Rahman University of Management and Technology, including Automation Warehouse System and Smart Forklift System, are the participating companies.

These speakers discuss solutions like a hardware-based device for monitoring system communications, full HD wireless Augmented Reality spectacles, innovative video analytics for improving urban traffic and financial experiences, and a SaaS IoT hub for several IoT gateways and devices.

The program, which is led by 1337 Ventures, collaborates with Universiti Sains Malaysia, Collaborative Microelectronic Design Excellence Centre, and local services companion Projet Technology Sdn Bhd. Also, Gobi Partners and the Malaysian Business Angel Network have been approved as opportunity capital and funding partners.

According to Chow Kon Yeow, deputy secretary of Penang,” This program is a testament to the Penang State Government’s devotion to transforming the state into the fresh market, in line with the Penang2030 perspective. Through Digital Penang, we are committing to creating a strong technology-focused ecosystem that fosters startup founders and promotes the triple-helix collaboration design between the authorities, industry, and academic institutions.

According to him,” Criticly, this places Penang at the forefront of innovative technology waves and guarantees a prosperous future for our native talents in the emerging technologies grounds.”

The Penang State Government, through Digital Penang, is constantly promoting a strong digital business and industrial development. Through various activities, Digital Penang aims to foster an ecosystem suitable to innovation and entrepreneurship by supporting businesses with money, equipment, and networking opportunities.

Also, the company encourages partnerships between education, industry, and authorities bodies to travel research and development. The Hardtech Incubator Programme supports these goals by providing a clear path for businesses and college projects to market their technologies, helping to advance Penang’s modern economy.