PETRONAS Teams up with Silicon Valley's 500 Startups

KUALA LUMPUR, 30 August 2019 - PETRONAS invites local startups to take part in PETRONAS FutureTech, a technology accelerator programme to encourage local innovations and support Malaysian startups to succeed in the global marketplace.

The programme, the first of its kind in Malaysia, aims to discover and nurture home-grown technology entrepreneurs, scale them up to global standards as well as build and influence the tech-driven startup ecosystem in the country.

PETRONAS has partnered with 500 Startups (500), a Silicon Valley venture capital seed fund and accelerator, to select up to 20 local startups to undergo an intensive 8-week programme.

The programme includes lectures, workshops, coaching with mentors from Silicon Valley and 500’s global network, as well as experts from PETRONAS’ businesses and the oil and gas industry.

At the end of the programme in November, the startups will pitch their creative solutions to PETRONAS, investors, potential collaborators and the media.

The top three startups will then participate in a global immersion programme to deepen their expertise in business development as well as taking up opportunities to go global.

The selected startups would gain access to PETRONAS’ resources, experts and reach of the Fortune Global 500 organisation.
The close collaboration between PETRONAS and the startups will serve as an exposure for the startups to accelerate their business solutions to meet PETRONAS’ business needs.

The focus themes for this first batch are Industry 4.0, Specialty Chemicals and Advance Materials, Future of Energy, Digital Transformation and Retail Innovation.

Applications for the PETRONAS FutureTech accelerator programme are now open until September 16, 2019. Interested startups can apply as well as get more information on the terms and conditions via petronas.500.co

Issued by
Media Engagement Department
Group Strategic Communications
PETRONAS