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

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  • A full of US$ 1 million has been provided by the first colleagues.
  • Plan sets companies with corporates to explore new markets, form alliances

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

Nexea has announced a collaboration with Allianz General Insurance Company ( Malaysia ) Berhad, Exitra, and several other major corporations for the Startup-Corporate Matching Programme. The Venture Capital and Startup Accelerator stated in a statement that the primary goal of this collaboration is to attach startups with well-established companies and cutting-edge tech companies for possible collaboration to cultivate cutting-edge innovation in Malaysia’s business ecosystem and above.

By utilizing social knowledge, Nexea and Allianz’s combined resources and expertise, as well as Nexea’s collaboration with Exitra, help to create a powerful entrepreneurial landscape. These alliances not only utilize unique skills but also open up opportunities for creativity, growth, and achievements.

The Startup-Corporate Matching Programme, an special action by Nexea, utilizes its experience and networking to match companies with organizations for exploring new markets and forming partnerships, joint ventures, investments, and acquisitions.

Nexea, Allianz General and Exitra collaborate to foster startup growth through Innovative-Startup Corporate Matching Programme” All businesses looking to work with companies should submit an application to utilize the support offered by large corporations.” 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 &amp, Founder of Nexea.

Enrolling in this programme offers startups many benefits, including securing business clients, building relationships with prospective acquirers, enhancing collaboration capabilities, and possibly achieving investments or corporate partnerships.

We’re looking forward to our fifth year of working with Nexea. We are aware of the value the business will continue to provide the Malaysian startup community. This collaboration has helped our partnership with local startups grow 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 five-month duration of the program ensures a focused and effective partnership process. According to Nexea, past cohorts have significantly benefited, collectively securing US$ 1 million ( RM4, 500, 000 ) in funding.

Startups from a variety of industries and stages of development are invited to participate if their product( s ) are the least bit viable and their value proposition is clear. 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 encourage startups ‘ emergence and integration into the corporate world by providing them with valuable resources and connections to support their success.

Kevin Teoh, COO at Exitra, said,” Exitra’s partnership with Nexea perfectly aligns with our vision of fostering innovation and driving sustainable growth. We think we can find and invest in cutting-edge technologies and business models that will shape the future by working closely with local startups.

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. The program gives entrepreneurs the chance to create innovative solutions and form valuable partnerships by connecting with over 80 businesses in these industries.

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

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China racing to stockpile AI-powering HBM chips – Asia Times

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In anticipation that the US would soon outlaw their export to China, Chinese technology companies began stockpiling Samsung’s high-bandwidth memory ( HBM ) chips earlier this year.

According to Reuters, citing three unknown publications, China accounted for about 30 % of Samsung’s HBM device profits in the first half of this year as a result of growing demand from tech companies like Huawei and Baidu as well as from innovative Chinese companies. HBM chips are commonly used as artificial intelligence ( AI ) accelerators.

According to the Reuters report, the majority of Chinese companies are looking for the HBM2E device, which is two decades and one-generations apart from the most cutting-edge HBM3E. China plans to produce indigenously the HBM2, the most intelligent, least advanced design.

International HBM business income may rise to US$ 14 billion in 2024 from$ 2.7 billion in 2022, Yole Group, a France-based research university, said in a statement in February 2024. The number is expected to rise to$ 37.7 billion in 2029, representing a compound annual growth rate of 38 % from 2023 to 2029. &nbsp,

Yole added that this year, the share of HBM in the overall DRAM market will increase from 3 % to 19 %, according to Yole. &nbsp,

However, researchers at Fangzheng Securities expected that world HBM need may simply achieve$ 9.14 billion, or 40 million devices, in 2024. &nbsp,

They said Nvidia will consume 58 % of all HBM chips, followed by Google ( 15 % ), AMD ( 14 % ) and Chinese firms ( 7 % ). The remaining 6 % will be used by other tech firms, the statement said.

The first seven months of 2024 saw a rise in China’s overall chip imports, according to Taiwan’s DigiTimes on Thursday ( August 8 ). &nbsp,

But, Li Yali, a journalist for Guancha.cn, claimed in an article published on Thursday that the rise in Chinese chip imports from January through July was largely due to a rise in global need for Chinese buyer electronic goods as opposed to the stockpiling of HBM cards.

In January-July, China’s imports of integrated circuits grew 14.5 % to 308.2 billion units, up 11.5 % to$ 212.1 billion from the same period last year, according to Chinese Customs data. Following the downturn of last year, the numbers were also below what they had been for 2022. &nbsp, &nbsp,

China’s HBM interests

The US Commerce Department’s Bureau of Industry and Security ( BIS ) chief, Alan Estevez, traveled to Japan and the Netherlands to urge their governments to stop ASML and Tokyo Electron from selling HBM chip-making equipment to China in June.

According to Bloomberg, the US may use its Foreign Direct Product Rule ( FDPR ) to prevent China from purchasing HBM chips from Samsung Electronics and SK Hynix in South Korea on July 31. By the end of August, a new circular of device export controls may be announced, according to Reuters. &nbsp,

On August 4, Tom’s Hardware reported that China’s ChangXin Memory Technologies ( CXMT ) has reportedly begun mass production of HBM2 chips. It cited a DigiTimes statement, which said it got the information from South Korea’s ETNews.

The progress made by CXMT’s HBM device manufacturing has not yet been made publicly known. &nbsp,

In a Reuters document from May 15, it was reported that CXMT had shown the products to clients after working with Tongfu Microelectronics to develop test HBM chips. &nbsp,

Some Chinese critics claimed that Huatian Technology, Tongfu Microelectronics, and JCET Group could make HBM chips. They claimed that Tongfu Microelectronics is a capable person but also needs more time to get ready for mass creation.

In December 2022, Nantong Tongfu, a fully-owned company of Tongfu Microelectronics, completed the construction of its step three shop in Nantong, Jiangsu state.

Tongfu Microelectronics celebrated the release of its first 2.5D/3D integrated circuit packaging device on February 22 this year in a great ceremony. However, it kept the machine’s company secret. &nbsp,

The HBM device manufacturing facility in Nantong Tongfu received an economic analysis report on March 1 from the Ministry of Ecology and Environment. According to the statement, the 250-employee service can make 36, 000 models of 80-millimeter-long HBM chips per month. &nbsp,

Tongfu Microelectronics stated to shareholders last month that the HBM industry is still dominated by foreign chipmakers, without going into detail about its own creation. &nbsp,

Read more: US tightens China-chip quotas in response to outdated Cold War diktats.

Follow Jeff Pao on X: &nbsp, @jeffpao3

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MYCentre4IR and Bursa Malaysia launch Global Innovation Challenge to accelerate ESG adoption

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  • Opportunities for pilot projects will be provided for the five most promising thoughts.
  • attempts to discover creative solutions that address issues in the sector.

Partnering with Bursa Malaysia, one of Southeast Asia's largest bourses, and powered by UpLink, The Forum’s open innovation platform, this Innovation Challenge leverages the strengths and networks of these prestigious organisations.

leng The Malaysia (Innov Centre4IR tion ESG Ch Innovation llen Challenge ( e) as bee lau Innovation Challenge ) has been ched, accor d ng to t h launched, according to the Malaysia Centre4IR.

This initiative, in collaboration with Bursa Malaysia, is powered by the World Economic Forum’s ( The Forum ) UpLink platform, which invites startups and entrepreneurs from Malaysia and around the world to submit their cutting-edge digital solutions to enhance the efforts of five Malaysian Public Listed Companies ( PLCs ), namely CJ Century Logistics Holdings Bhd, Globetronics Technology Bhd, Malayan Banking Bhd, REDtone Digital Bhd, and Sunway Innovation Labs ( representing Sunway Group ).

( An expression of interest was made following the five PLCs ‘ interest following an ESG Tech Based Innovation Workshop held in Bursa Malaysia. )

Empowering entrepreneurs, driving shift

This Innovation Challenge seeks to join beautiful thoughts and promising startups with Malaysian PLCs in various sectors such as agriculture, construction, economic services, logistics and production. The issue seeks to find creative solutions that address business issues, which might boost Malaysia’s economy and the environment, and could also boost competition.

Strategic engagement

Partnering with Bursa Malaysia, one of Southeast Asia’s largest bourses, and driven by UpLink, The Forum’s available technology system, this problem leverages the strengths and networks of these renowned organisations.

The association with UpLink will help the problem have a global reach and draw high-quality submissions from all over the world. The Innovation Challenge promotes the development and implementation of systems that advance ESG principles while also providing a significant opportunity for PLCs to investigate business venture capital practices in line with Pillars 2, 4, and 5 of Bursa Malaysia’s Public Listed Companies Transformation Programme. This initiative helps PLCs become more responsible in addition to supporting businesses and entrepreneurs.

Five arches, which include:

  • Creating Purpose and Performance-Driven PLCs,
  • Being Responsible, Socially Accountable and Ethical PLCs,
  • Increasing investor ties and customer management,
  • Being Online Enabled, and,
  • Contributing towards Nation Building

Focus places

The Innovation Challenge places an emphasis on net-zero solutions and operation technology:

CJ Century Logistics Holdings Bhd

  • Data set for shipping fleet management
  • predicted model for conservation planning and information analysis

Globetronics Technology Bhd

  • Performance progress in manufacturing
  • AI-assisted online manufacturing helpers

Malayan Banking Bhd

  • Building environment endurance: Options in climate mitigation and adaptation
  • Waste to wealth: assisting SMEs in cutting back on their ongoing waste costs

REDtone Digital Bhd

  • Making use of the Internet of Things ( IoT ) for smarter farms in Malaysia
  • Unlocking AI’s potential for Malaysian agriculture

Sunway Group is represented by Sunway Innovation Labs.

  • Preventative health and well-being
  • Circular economy

Application and selection process

Applications are now open via UpLink and will close on 31 Aug. A panel of industry experts and representatives from MYCentre4IR, Bursa Malaysia, and the World Economic Forum will evaluate the submissions. On November 7, the Innovation Challenge will culminate with a Demo Day at Bursa Malaysia, where five of the most promising ideas will be given funding opportunities for pilot projects and access to a network of business leaders and investors.

For more information about the Malaysia Centre4IR ESG Innovation Challenge and how to participate, please visit the challenge page here or contact]email&nbsp, protected].

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MYStartup pre-accelerator Cohort 4 launches with 30 promising startups

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MYStartup's Pre-Accelerator Cohort 4's selected startups with Cradle and other partners. Sam Shafie, co-founder of WatchTower and Friends is in the second row (seated in white cap and red t-shirt).

MYStartup, in partnership with WatchTower and Friends, happily announces the selection of 30 high-potential companies for the MYStartup Pre-Accelerator Cohort 4. The MYStartup program, spearheaded by Cradle Fund Sdn Bhd and carried out by the company, aims to encourage the development of product-market suit and contribute to the overall success of the Indonesian startup ecosystem.

Chosen from a dynamic lake of close to 100 candidates across Malaysia, the selected companies may embark on a four-month designed program. The programme covers essential topics, including aligning co-founder goals, crafting mission and vision statements, developing business models, designing and iterating Minimum Viable Products ( MVP), conducting market validation, exploring valuations and funding, and understanding Sustainable Development Goals ( SDGs ) and governance. Individuals gain knowledge and tools to create and scale effective startups through this structured approach.

MYStartup pre-accelerator Cohort 4 launches with 30 promising startupsCradle’s Group CEO, Norman Matthieu Vanhaecke ( pic ), stated that MYStartup is dedicated to advanceing the local startup ecosystem by providing access to essential early-stage support tools and resources like expert mentoring, seed funding, and market access. MYStartup Pre-Accelerator has supported more than 100 Malay businesses in three groups since the first group was launched in 2022. In line with the Ministry of Science, Technology, and Innovation’s goal of placing Malaysia among the top 20 global startup ecosystems by 2030, as defined in the Malaysian Startup Ecosystem Roadmap ( SUPER ) 2021- 2030, this program embodies our commitment to position Malaysia as a key player in fostering innovation and advancement in local and global technology sectors.

” Since 2015, we’ve happily supported Malaysian companies, with many from our WTF Accelerator evolving into the world’s most successful projects. Partnering with Cradle through MYStartup, we’re totally committed to the president’s goal of creating 5, 000 companies by 2025. During this four-month program, our focus is on achieving product-market meet across different industries like SaaS, E-commerce, Edtech, Fintech and AI. We anticipate seeing major accomplishments and ability growth under WatchTower and Friends, according to Sam Shafie, the co-founder of WatchTower and Friends.

The pre-accelerator program offers a coherent bundle for each chosen business, encompassing regular learning modules, hands-on mentoring, on-demand resources, and proper connections within the tech and entrepreneur industry. These solutions have been carefully created to assist businesses in creating viable business versions and securing growth opportunities.

Participants will provide their tested and positive MVP to prospective investors by the program’s conclusion, giving them a crucial opportunity to secure funding and advance their growth trajectory. This organised approach not only prepares startups for long-term victory in the fiercely competitive business environment but also provides them with crucial skills and insights.

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Thailand SEZ: Malaysia PM Anwar pitches involvement of startup, private companies to Thai foreign minister

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In an effort to boost investment, a recent Malaysian proposal to Thailand could see private companies and startups become involved in the creation of special economic zones ( SEZs ) in the kingdom’s southern regions.

The proposal was made available to Thai Foreign Minister Maris Sangiampongsa during a kindness visit on August 6 according to Prime Minister Anwar Ibrahim.

Their role, both from start-up and private companies, may draw more investment into the SEZ.

In a post on Facebook the following morning, he wrote,” In fact, I also suggest that Kelantan take the opportunity to construct businesses along the Sungai Golok, which is located along the boundary between Malaysia and Thailand.

Mr. Anwar and Mr. Maris also discussed the outcomes of Mr. Anwar’s and Mr. Maris ‘ working encounter with Thai Prime Minister Srettha Thavisn at Sungai Golok, Thailand, and Rantau Panjang, Kelatan, on August 3.

The leaders spoke about the food and foam industries during the working visit.

Mr. Anwar and Mr. Maris discussed dredging the Sungai Golok river in order to address flooding issues in his Instagram article.

This would be beneficial for the areas that are located near the border of the two nations, which almost always experience flood issues.

Mr. Anwar also emphasized Malaysia’s devotion to the Southern Thailand Peace Dialogue Process.

He added that “both countries have agreed for Malaysia to sponsor the sixth Annual Consultation on September 19, 2024.”

Malaysia is a mediator of peace talks that have amounted to decades of fight that erupted in the southern regions of Narathiwat, Yala, Pattani, and pieces of Songkhla.

Mohd Rabin Basir, a former director-general of the National Security Council, was appointed as the new South Thai Peace Dialogue Process’s fresh Malaysian authorities mediator effective on July 1.

In 10 of the country’s 10 provinces, the Thai government has made significant progress in creating Special SEZs. These are &nbsp, spread across the counties of Chiang Rai, Narathiwat, Tak, Nong Khai, Trat, Kanchanaburi, Mukdahan, Songkhla, Sa Kaeo and Nakhon Phanom.

Songkhla and Narathiwat borders Malaysia.

The president’s initial push for the SEZ scheme was motivated by the government’s belief that the 10 areas have a strong potential for trade, investment, and economic ties with neighboring countries.

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How Trump could make Bitcoin great again – Asia Times

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The US presidential campaign has turned to Bitcoin, a crypto known for its price fluctuation and negative effects on the environment.

Donald Trump, the former US president and Democratic candidate for the upcoming vote, hosted the biggest Cryptocurrency meeting of the year in Nashville on July 27.

If Trump is re-elected as president after the election, he said in his speech that he would make the United States the” crypto capital of the planet and the world’s Bitcoin power.” The crowd roared out in awe of his remarks.

Trump’s desire to dominate the blockchain sector is almost certainly social. Since accepting bitcoin gifts in May, the Trump plan has already raised US$ 25 million from the industry, and more are anticipated to follow the Nashville event.

His public support of crypto definitely boosted trader optimism. The price of Bitcoin surged to almost$ 70, 000 on July 29, its highest level in more than six weeks, before dropping back to$ 62, 000 a few days later.

However, issues remain regarding whether Trump’s policies will be implemented if he is elected president. Even so, it’s unclear whether Trump’s pro-crypto policy will include a long-term impact on Bitcoin’s value.

Currency’s price surged and fell within a year

A chart showing the fluctuation in Bitcoin's price over the past month.
A graph showing the variation in Bitcoin’s rate over the past month. Image: Google Finance, CC BY-NC-SA

In his statement, Trump pledged to keep” 100 % of all the Cryptocurrency” the US government already holds or acquires in the future if he is elected.

Some countries, including the US, keep Bitcoin. Cryptocurrency that has been seized from offenders accounts for a large portion of these assets. How to handle this seized crypto is a complicated issue.

The victims of crypto crime might receive a opposing message if they are not selling it. Chinese fraud victims, for example, have previously urged the UK government to return £3 billion ($ 3.8 billion ) in Bitcoin held by London police.

Recovering stolen Bitcoin may be a part of their actions if governments really want to safeguard consumers from crime and fraud in bitcoin markets. So, Trump’s promise to keep all of America’s Bitcoin investments may not be functional.

Besides that, Bitcoin was designed primarily as a fragmented money. The fact that it operated separately from any central authority was its main draw.

Since its commencement in 2009, the degree of autonomy has decreased. Key mining pools, which combine their computing resources to improve their chances of “mining” fresh Bitcoins, currently own a sizable portion of the currency.

Big people may become even more powerful if they add significant government holdings to Bitcoin. Most cryptocurrency users probably do n’t want this.

Another major impediment to the widespread adoption of Bitcoin and another blockchain-based inventions is the lack of regulatory clarity. From this viewpoint, Trump’s pro-crypto plan may be welcomed by the blockchain society, as he may create a more positive environment in the US for crypto miners, startups and other crypto entrepreneurs.

Trump criticized vague and overly stringent US laws at the Nashville conference, threatened to fire SEC chair Gary Gensler due to his antagonistic attitude toward the sector, and warned that Kamala Harris ‘ candidacy would derail the blockchain community.

Trump said:” We does have restrictions, but from now on the guidelines will be written by people who love your business, not love your business”. However, the details of how these fresh” crypto-friendly” officials will achieve their goals if Trump is elected remain unclear.

In 2023, the SEC led key studies into crypto’s major troublemakers. The leader of the now-bankrupt FTX crypto exchange, Sam Bankman-Fried, for example, was sentenced to 25 years in prison for fraud and was ordered to renounce US$ 11.2 billion.

The US has the power to make the area safer for all participants. However, it’s uncertain whether these anti-crime measures will remain under Trump’s fresh crypto-friendly administration.

Despite the uncertainty surrounding the November election, crypto users have different concerns about the government’s Bitcoin holdings.

Governments selling their Bitcoin holdings contribute to the volatility of the currency, which has fallen by 15 % since Germany started selling off roughly € 2.5 billion ($ 2.7 billion ) of confiscated Bitcoin at the beginning of June. However, Bitcoin is also a highly speculative property that is vulnerable to news, social media, and media coverage.

The position of the US government on Bitcoin’s economic issues, which are the subject of many media censure, may also impact its value in the long term.

To add new tokens to the blockchain and remedy various scientific puzzles, Bitcoin mining usually uses a lot of computing power. It uses a lot of electricity and water, as well as producing a lot of electrical waste.

In January of this year, the US government had started a project to track mining operations ‘ power consumption. A federal prosecutor in Texas, who ruled that the business would suffer “irreparable harm” if the new demands were implemented, halted the action.

Communities that are affected by Bitcoin’s enormous reference consumption does not agree with Trump’s pledge to aid US Bitcoin mining. For instance, households in Texas are currently paying higher energy bills in regions where Bitcoin is mined on a massive range.

The US and other important international political parties ‘ goals, among others, determine Bitcoin’s future. Regardless of government rules, there are numerous factors that affect the price of Bitcoin, but any promises should be read with precaution.

For Trump’s vows to impact Bitcoin’s cost in the long term, they must be backed by large and regular measures. Often, they will only bring about momentary price fluctuations, as they have been reported in the previous week.

Larisa Yarovaya is Director of the Centre for Digital Finance, Associate Professor in Finance, University of Southampton

The Conversation has republished this essay under a Creative Commons license. Read the original content.

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ViTrox founders and their USmil bet on an Industry4.0 Cambrian era in Malaysia 

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  • Consider Malaysia to have the ability to be the East’s Silicon Valley.
  • Create businesses that will result in a lot of high-quality tasks.

Vitrox founders Steven Siaw, Chu Jenn Weng and Yeoh Shih Hoong hope their Cambrian Fund will ignote a new wave of innovators in Malaysia's startup ecosystem.
What does one do when their business is celebrating its 20th anniversary when they are 53 years old and Forbes names them among the 50 richest Internationals with an estimated US$ 450 million as of 2023?

The answer, according to Chu Jenn Weng, creator, managing director, and leader of Vitrox Corporation Bhd, was to reaffirm his stated desire to inspire Malaysians to establish their own world-class businesses and to employ enough skilled workers for Malay skill that we do not need to concentrate on multinational corporations for good jobs, as he shared with Digital News Asia in 2014.

Roping in his co-founders, Steven Siaw and Yeoh Shih Hoong, the trio announced on July 26 the launch of Cambrian Fund, a US$ 33.9&nbsp, million ( RM150 million ) venture capital initiative managed by Singapore-based Southern Capital Group, aimed at fostering Malaysia’s next wave of Industrial 4.0 innovators.

” Twenty-four years before, in 2000, we started ViTrox in a small room with only our goals and perseverance. We want to promote a strong tech ecosystem in Malaysia and help local tech startups right now,” Chu said.

Southern Capital will pay the difference, with each of the pair contributing RM10 million. Targeting a lift RM150 million, the remaining RM90 million may be raised from other buyers. The owners are casting a wide net and inviting additional industry figures and key players to the habitat of the fund. ” We ask our peers to undertake to a’ by Malay, for Malay ‘ philosophy”, Chu said.

With ViTrox being an automated vision assessment tools company, it is no wonder that the bank may rely on early-stage tech companies in areas such as equipment vision, artificial intelligence, and robotics. &nbsp,

The Cambrian Fund, which honors the geographical era that saw an increase in sophisticated existence forms, aims to infuse Malaysia’s it landscape with a comparable burst of innovation. &nbsp,

The fund’s target aligns attentively with ViTrox’s skills in appliance vision, robotics, and integrated electronics solutions for the semiconductor and electronics industries. The fund can harness the founders ‘ extensive industry expertise and sites to find and cultivate promising startups thanks to this proper alignment.

Create businesses that will result in a lot of high-quality tasks.

Kenneth Tan, CEO of Southern Capital, emphasised the reliability of the program. ” We believe that together we may play a role in establishing a new kind of venture capital fund, one that is based on knowledge, engagement, creativity, and a desire to give back”, he said. Tan emphasized the potential for the foundation to spur the development of reputable businesses that will create thousands of high-quality jobs and change years ‘ lives.

The Cambrian Fund’s release comes at a critical moment for Malaysia’s software market. There is a renewed interest in moving up the value chain in the silicon and related industries with the president’s most current release of the National Semiconductor Strategic Plan. By promoting the ecosystem’s application and design elements, the fund intends to match these efforts.

We think Malaysia has the ability to be the Silicon Valley of the East, according to Chu, referring to the firm’s wider vision. This account is a step towards building a solid local technology cluster, specialising in equipment eyesight, AI, and automation”.

The firm’s technique goes beyond mere monetary investment. The founders intend to offer coaching, business connections, and proper guidance to their investment companies as a result of their experience leading ViTrox to become a global leader in innovative X-ray inspection for the electrical and electronic industry.

Steven, a founder who is also senior executive vice president of ViTrox, highlighted the value of this hands-on approach:” Many of these entrepreneurs lack industry experience or exposure. We can bridge the gap, assist in accelerating this process, and prevent costly mistakes.

The fund will consider opportunities in Southeast Asia as well, despite its primary focus being on Malaysian startups. This regional perspective is in line with the founders ‘ goal of making Malaysia the center of technological innovation in the area.

The Cambrian Fund faces challenges, including the long-term nature of investments in hardware-software integrated products. The fund’s investments, in contrast to e-commerce ventures that might yield returns in a year or two, will likely take five or more years to bear fruit. ” We need to educate the investing community about the nature of this kind of business”, Chu acknowledged.

Despite these challenges, the founders remain optimistic about the fund’s potential impact. They see it as a crucial step in creating a self-sustaining ecosystem of innovation, where success breeds further success.

Initiatives like the Cambrian Fund will be crucial in developing the talent and ideas that will propel Malaysia’s technological advancement as it keeps positioning itself as a major player in the global semiconductor landscape. The ViTrox founders and Southern Capital are well-positioned to identify and nurture the next generation of tech leaders in Malaysia and beyond with their successful pasts and deep industry knowledge.

The tech ecosystem will closely monitor which startups will win the most industrial innovation awards in Malaysia.

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Google for Startups launches AI Academy to propel AI innovation in Malaysia, Asia

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  • Apps are currently available and will close on August 16, 2024.
  • Aims to collect 20 AI businesses for cross-border development, partnerships

Google for Startups launches AI Academy to propel AI innovation in Malaysia, Asia

AI Academy, a new program developed by Google for Startups, was introduced in support of and to accelerate the growth of AI startups in the Asia-Pacific ( APAC ) region, including Malaysia.

More than 20 startups are working on AI-based technologies, according to the company, which will help APAC’s lively AI community and foster cross-border collaboration and partnerships. Also, the creative environment will encourage the exchange of ideas, experience, and tools, accelerating the development of cutting-edge Artificial answers and establishing APAC as a global hub in AI developments.

Selected companies may get:

    Personalized coaching: Access to Google’s world-class AI specialists for individualized guidance and support.

  • Google Cloud credits: Up to US$ 350, 000 ( RM1.5 million ) in Google Cloud credits to fuel their AI development and experimentation.
  • Opportunities to network and work with another AI startups in the APAC place.

By enabling startups to create a “proof of concept” and goods strategy, quickly enhancing and improving their AI solutions, The AI Academy aims to accelerate startups’ to market. Startups will be able to create a “proof of concept” and a solution roadmap for easy and fast inclusion into their existing products by using Google Cloud tools on their own data. This faster approach may both show the real value of their Artificial improvements and speed up their path to success.

Apps are currently available and will close on August 16, 2024.. For more information and to apply, please visit https://startup.google.com/programs/ai-academy/apac/

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The Silicon Straits: How Malaysia Can Unlock ASEAN’s Digital Boom

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  • Unlocking ASEAN’s Digital Boom & the path to becoming a regional hub
  • At the heart of Malaysia’s digital ambitions is the data center infrastructure

The Silicon Straits: How Malaysia Can Unlock ASEAN's Digital Boom
Southeast Asia’s digital economy continues its impressive growth. At its current rate, the region’s digital economy is expected to deliver US$1 trillion in value by 2030 – a massive opportunity Malaysia is well-positioned to capitalise on. With a population of over 700 million and rapidly growing digital adoption, ASEAN is quickly becoming a global powerhouse in the digital age.
The Top In Tech series recently aired its 40th episode, “The Silicon Straits: How Malaysia Can Unlock ASEAN’s Digital Boom”, which sought to discover Malaysia’s potential as a digital hub for ASEAN, exploring the role of robust infrastructure in driving regional innovation and economic growth, while also navigating the challenges and opportunities of cross-border data flow.

A lineup of experienced speakers, including MA Sivanesan, Deputy Secretary General (Digital Development), Ministry of Digital; Maciej Surowiec, Head of ASEAN Government Affairs, Microsoft; Dr. Endry Lim, Chief of Staff, PayNet; and Chiun Chiek Wong, Director, Bursa Intelligence at Bursa Malaysia shared their views. The discussion was moderated by Karamjit Singh, CEO of Digital News Asia.

Malaysia’s digital transformation journey

“Malaysia has long recognised the importance of digital transformation, laying the groundwork over the past two decades. Establishing Malaysia Digital Economy Corporation (MDEC) in 1996 was an early step in positioning Malaysia as a regional digital hub. Throughout the years MDEC has rolled out market access programs and assistance through grants, which support Malaysia Digital Hub startups that are ready to expand into ASEAN countries. From a policy perspective, the launch of Malaysia’s Malaysia Digital Economy Blueprint in 2021 provided a comprehensive roadmap to drive the country’s digital growth,” said Sivanesan.
Chiun Chiek drew attention to ASEAN’s emerges as the world’s 5th largest economy, where inter-regional collaboration becomes ever more crucial. Malaysia’s 2025 ASEAN chairmanship will spotlight the country’s regional leadership role and propositions. Government initiatives facilitating investments, particularly in data centers, deserve significant acknowledgment. With these infrastructures in place, the focus shifts to maximizing their utility, integrating AI capabilities to attract diverse workloads that align with global cloud computing trends over the past decade. This juncture offers a strategic moment for government bodies, private enterprises, and SMEs to collaborate. Together, they can pinpoint industry challenges, generate jobs, business prospects, and foster technological advancements.

Maciej Surowiec, Head of ASEAN Government Affairs, Microsoft; Dr. Endry Lim, Chief of Staff, PayNet; Chiun Chiek Wong, Director, Bursa Intelligence at Bursa Malaysia; and MA Sivanesan, Deputy Secretary General (Digital Development), Ministry of Digital.

Collaboration and coordination for regional success

To fully unlock ASEAN’s digital potential, Malaysia recognises the need for greater regional collaboration and coordination.
“Malaysia’s historical position of neutrality in international relations is a significant strategic advantage. This neutral stance has allowed the country to maintain good relations with other nations, attracting diverse investments. Hence, the next steps should involve leveraging these relationships by accelerating policy development and implementation. Agility in policymaking is crucial to keeping pace with rapid technological advancements and protecting the interests of all stakeholders, including small and medium enterprises (SMEs),” said Dr Endry.

Harnessing the power of data centers

“At the heart of Malaysia’s digital ambitions is the data center infrastructure, connected to the global technology fabric. Data center investments bring broad economic benefits, serving as anchors for the digital ecosystem, attracting other businesses and fostering innovation. Malaysia’s strategic location, vibrant and diversified economy as well as commitment to sustainable energy positions the country as Southeast Asia’s data hub,” said Maciej.
Unlike manufacturing, where a new plant can rapidly create thousands of jobs, data centers serve as anchors for the technology industry, elevating Malaysia’s profile on the global stage, attracting data-driven investments, and potentially fostering silicon manufacturing plants.
 

Capturing the AI Opportunity
Malaysia’s digital transformation journey is well underway, and the country’s aspirations to become the digital hub of ASEAN are within reach. By continuing to attract investments, develop world-class digital infrastructure, cultivate talent, and drive collaboration across the region, Malaysia can unlock the full potential of the ASEAN digital boom and cement its status as a leading player in the global digital economy.

This episode is in-collaboration with Microsoft Malaysia.

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Beep raises USD 3.3 mil in Pre-Series A, expands to Thailand and Malaysia

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  • Oversubscribed fundraise led by existing investors, joined by M7 Ace Neo
  • With new partners, Voltality’s network now has over 5,000 charging stations

Beep raises USD 3.3 mil in Pre-Series A, expands to Thailand and Malaysia

Beep, a Singaporean IoT transaction platform startup, announced the close of its US$3.3 million (RM15.2 million) Pre-Series A investment. The oversubscribed fundraise was led by existing investors Granite Asia (formerly GGV Capital), Farquhar VC, SUTD Venture Holdings, Wing Vasiksiri, and new participation from M7 Ace Neo, an M7 Company.

In a statement, the startup said this aligns with the company’s expansion into Southeast Asia, starting with Thailand and Malaysia.

Beep raises USD 3.3 mil in Pre-Series A, expands to Thailand and MalaysiaKristoffer Jacek Soh (pic), co-founder & CEO of Beep, said, “We’re grateful for the continued vote of confidence from our investors who have been with us on our journey, supporting our growth to date. Our rapid progress is a result of the immense support we have received from our investors, partners, industry leaders, and government agencies.”

He added that as electric vehicle adoption continues to surge, seamless access to charging infrastructure is an increasingly crucial requirement for both consumers and businesses making the transition from internal combustion engine vehicles, yet connectivity remains fragmented across the region. “Voltality aims to empower both charging operators and mobility providers, allowing them to embed connectivity across different charging stations directly inside their own platforms, with an added option for app-less payments through credit cards and QR codes, so drivers need only one interface to charge wherever they go. From our strong foundation established in Singapore, we found a common need for the same capabilities abroad, and we are now ready to cement our presence in Thailand, Malaysia, and beyond.”

The fundraise demonstrates greater investor confidence, with US$3.3 million (RM15.2 million) of the total fundraise coming in the form of a top-up from existing investors. This also showcases the proven impact of Beep’s eMobility platform, Voltality, in Singapore and its ability to provide seamless, interoperable, and collaborative EV charging in Southeast Asia.

“The team at FVC have journeyed with Beep in different capacities for the past six years and are proud to now be investing into Beep through the FVC Green Future Fund together with other investors,” said Jason Su, managing partner & chief investment officer.

“We are glad to support Beep as they pioneer the future of EV charging gateways. Beep is a great example of why we feel Singapore startups are leaders in innovation. M7 is excited about the opportunity to partner with Beep and other Singapore startups moving forward,” said Yasmin Mustafa, M7’s senior advisor in Singapore.

There is high demand for EVs in Southeast Asia, with total EV sales in the region experiencing 894% year-on-year growth. The first phase of Beep’s regional expansion strategy focuses on extending Voltality’s charging network in Thailand and Malaysia. Presently, the platform is live with its first partners in Malaysia and will launch in Thailand in Q3 2024.

According to Beep, in Thailand, Voltality has already signed contracts with Sharge and Evolt, two of the top five charging operators in Thailand, together with WHA Group, a leading developer of fully integrated logistics, industrial estates, power and utilities, and digital solutions, and EVme, the country’s largest and fastest-growing EV rental and purchasing platform. The agreement will enable connectivity for several thousand vehicles to over 1,600 charge points locally, with the network set to continue growing in the near future.

In Malaysia, contracts have been signed with several charging operators, including Sime Darby Berhad subsidiary KINETA, a major player in Malaysia’s EV space, which announced a partnership in May with ChargEV to accelerate EV charging and roaming innovation. Beep partnered with KINETA to enable its “KINETA Charge” application with Voltality’s platform.

Voltality has also secured contracts with mobility partners to enable both local and cross-border charging connectivity within the second half of 2024. In 2023, Beep was one of the five startups to win the Petronas FutureTech 3.0 accelerator programme, which further deepens connections and credibility in Malaysia.

The startup is also exploring expanding to other regional markets such as Indonesia, Vietnam, and more for its second phase in 2025. To help navigate its continued regional expansion, Ming Maa, ex-Grab group president, will also join Beep as an advisor, bringing significant operational expertise in market development and partnerships within Southeast Asia’s complex landscape.

In 2023, Beep launched the largest electric vehicle roaming network under Voltality, spanning over 1,350 charge points and 11 operators in Singapore. Since then, the network has continued to expand, with the latest addition being an MOU signing in July 2024 with ChargEco, a rapidly growing Singaporean Charge Point Operator jointly set up by SMRT Corporation’s business arm STRIDES and integrated energy provider YTL PowerSeraya. ChargEco is one of the five operators awarded by the Land Transport Authority to collectively deploy charging stations in nearly 2,000 public Housing Board car parks islandwide. With this MOU, Voltality is partnered with four out of the five selected operators in the landmark tender to make every HDB town EV-ready by 2025.

Together with new partners in Thailand and Malaysia, this brings Voltality’s total charging network to over 5,000 charging stations from 1,350 in 2023 – representing what the company claims to be a four-times coverage growth in less than 12 months and maintaining Voltality’s eRoaming service (VoltNet) as the largest permission-based eRoaming network in the region.

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