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

• Aims to accelerate commercialisation of hardtech & deeptech solutions
• Programme features 8 Penang-based startups & university research projects

Digital Penang, a government-linked company of the Penang State Government, has unveiled the commencement of the Hardtech Incubator Programme. Driven by the vision of Penang2030, this initiative aims to accelerate the commercialisation of hardtech and deeptech technological solutions, particularly those transitioning from Technology Readiness Levels five to eight.

In a statement, Digital Penang said the Hardtech Incubator Programme is designed to bridge the commercialisation gap, ensuring that innovative solutions can reach the market more efficiently and effectively. The programme is structured into two main phases: Incubation and Acceleration.

The Incubation phase focuses on preparing startups with essential business planning, proof-of-concept (POC) development, and market validation strategies.

During the Acceleration phase, participants will receive mentorship and resources to deploy their POCs in the actual market, engage in market validation activities, and drive towards securing market traction for their hardware-based solutions. Additionally, startups will be prepared for investor engagement through workshops on fundraising strategies and pitch presentations.

This year, the programme features eight Penang-based startups and university research projects. The participating entities include Beyond Medicare Sdn Bhd, Bitranger Sdn Bhd, Nexada Technology Sdn Bhd, Wysetime Solutions Sdn Bhd, Zero Technologies Global, Redo Smart Enterprise, and research projects from Tunku Abdul Rahman University of Management and Technology, including Automation Warehouse System and Smart Forklift System.

These participants introduce solutions such as a hardware-based sensor for monitoring network communications, full HD wireless Augmented Reality spectacles, advanced video analytics for optimising urban traffic and retail experiences, and a SaaS IoT hub for various IoT devices and gateways.

Facilitated by 1337 Ventures, the programme collaborates with Universiti Sains Malaysia, Collaborative Microelectronic Design Excellence Centre, and local facilities partner Projet Technology Sdn Bhd. Additionally, the Malaysian Business Angel Network and Gobi Partners are onboard as venture capital and investment partners.

According to Chow Kon Yeow, chief minister of Penang, “This programme is a testament to the Penang State Government’s dedication to transforming the state into the new economy, in line with the Penang2030 vision. It underscores our commitment to building a robust technology-focused ecosystem through Digital Penang that nurtures startup founders and encourages the triple-helix collaboration model between the government, industry, and academic institutions.”

“Critically, this positions Penang at the forefront of new technology waves while ensuring a thriving future for our local talents in the emerging technology fields,” he added.

The Penang State Government, through Digital Penang, is actively promoting a robust digital economy and technological advancement. Through various initiatives, Digital Penang aims to foster an ecosystem conducive to innovation and entrepreneurship by supporting startups with funding, infrastructure, and networking opportunities.

Additionally, the company encourages collaborations between academia, industry, and government bodies to drive research and development. The Hardtech Incubator Programme aligns with these objectives by providing a structured pathway for startups and university projects to commercialize their technologies, thereby contributing to Penang's digital economy growth.