17/6/2019 – NEXEA Angels Sdn Bhd, a startup investment firm based in Malaysia has partnered up with Digi, HELP University, Rhombus Connexion, and Spritzer to launch a Startup-Corporate Pilot Program.
The firm said that the program aims to identify and explore potential collaborations among local technology startups and corporations. It is available for Malaysian startups ranging from ideation stage to pre-Series A.
According to NEXEA, the company is looking to enrol startups that are involved in the areas of connectivity, fintech, Internet of Things, SME solutions, F&B education, healthcare, and home services.
“Many startups desire a working relationship with corporate entities but many too are unable to attain it due to various reasons,” said the Managing Partner of NEXEA, Ben Lim.
“So, this year, besides running our regular Startup Accelerator Program, we are bringing a platform where startups have direct access to corporations so they can explore potential collaborations.”
NEXEA’s role will be mentors and potential investors for startups as startups joining the program will get a chance to explore pilot projects supported by the listed organizers.
Startups will also be able to validate their business model receiving feedback, explore real-world product testing, and building up traction by having these organizations as potential customers.
Besides, NEXEA will also bring in experienced entrepreneurs, CEOs and heads of innovations from participating organizations, some who had successfully brought their companies to initial public offering (IPO), involved in the program.
Alex Foo, Digi’s head of Strategy and Transformation said that, “we share a common belief with Nexea that corporates and startups have a big role to play to foster the growth of innovation and innovators in Malaysia.”
“By partnering with Nexea’s Startup-Corporate Pilot Programme, we hope to play a role in building the local startup ecosystem by sharing our knowledge and expertise in building businesses, while exploring collaborative opportunities with startups and jointly bring new innovations to market.”
The Startup-Corporate Pilot Program will begin in July this year and run in parallel with NEXEA’s startup accelerator program. Applications to join are now open and will end on 24 June 2019.
To date, NEXEA has run three rounds of accelerator programme since 2016. More than 400 have applied in total, and 11 have been selected to participate in the full programme.
This news is published on Reuters.