Five startups from Cyberview Living Lab Accelerator (CLLA) 2018 programme had showcased innovative Smart City solutions by capitalizing on technologies such as Financial Technology (FinTech), Internet of Things (IoT) and Robotics & Artificial Intelligence (AI).
The latest cohort of startups at the Demo Day comprised of EPC Blockchain, Touchless, MedKad, CheQQme and BeeBotic.
Cyberview Sdn Bhd technology hub development division acting head Siti Shafinaz Mohd Salim, said the Demo Day with the five startups have garnered investment interest worth RM11.2 million from prominent venture capital and investors.
“The Cyberview Living Lab Accelerator is one of our initiatives with a focus into accelerating startups with minimum viable product by providing them assistance with a go-to-market strategy.
“Under the guidance of Cyberview and the programme manager, Finnext Capital, these startups took part in a vigorous five-month process of mentorship, consultancy and advisory before demonstrating their ideas and business models to a group of investors, corporates, community builders and media partners,” she said.
She added the startups will then continue to receive support from the programme to help propel their company’s growth.
Cyberview MD Mohd Najib Ibrahim said, “As we accelerate towards the Industrial Revolution 4.0 in Malaysia, Cyberjaya stands as a launching pad for innovations within the areas of IoT, Fintech, and Robotics.
“Fintech, IoT and Robotics are the focus areas of the CLLA programme considering the vast potential they present for innovation leaders in Industry 4.0,” he said.
He added that research has showed that fintech startup startup funding has increased at a compound annual growth rate of 41 per cent over the last four years, with over US$40 billion in cumulative investments.
Similarly, the National IoT Strategic Roadmap reveals that the initial economic potential for IoT in Malaysia will result in RM9.5 billion GNI creation by 2020 and expected to experience an exponential growth of RM42.5 billion by 2025.
Additionally, for robotics, the global industrial robotics space is estimated at USD25.6 billion in 2013 and expected to reach a whopping USD40 billion by 2020.
The CLLA programme aims to promote an open and innovative ecosystem with visions to elevate Malaysia’s vibrant entrepreneurship environment and propel Cyberjaya to be the leading Global Tech Hub through premier smart city recognition in the region.
To date, Cyberview has nurtured 60 startups under Living Lab Accelerator programme, with RM6 million investments raised, RM23 million revenue generated, and more than 300 jobs created.
Najib said the latest installation of the CLLA programme has seen a range of startups from vairous industries kicking up a notch with Smart City ideas using disruptive technologies like Robotics, AI, IoT and FinTech.
“For the first time, the cohort was required to approach their ideas and solutions by tackling demand-led problem-statements that further solidifies their offerings.
“These startups are presently working out of Cyberview’s collaborative working space, CoInnov8 where they have access to a whole host of resources that they would need to innovate and commercialise their products effectively,” said he said.
Each startup was provided with resources and facilities valued more than RM100,000 to be pilot and investment ready.
The programme consists of three main value propositions for the selected startups, including customer acquisition inroads in Cyberjaya, customised networking and funding opportunities and complimentary access to shared services such as Marketing, PR, Legal advisory, Finance advisory, Roadshow and Exhibitions.
Meanwhile, Cyberview have appointed Finnext Capital to ensure that participants are equipped with sufficient guidance and resources throughout the duration of the accelerator programme.
“We have been working closely with the five startups under the Cyberview Living Lab Accelerator programme; assisting in every possible angle such as business development for projects, financing structure, legal and exposure.
“We are proud that the startups have grown tremendously since joining the programme,” said Finnext Capital partner Aizat Rahim.