Nexea launches Startup-Corporate Pilot Programme
By Digital News Asia June 17, 2019
- Applications to join are now open and will be closed on June 24, 2019
- Open to Malaysia-based tech startups from ideation stage to pre-series A
NEXEA Angels Sdn Bhd, a startup investment firm on June 17 announced the launch of its Startup-Corporate Pilot Programme that aims at bringing together local technology startups and corporations for the purposes of identifying and exploring potential collaborations among them.
The programme is held in partnership with several organisations namely Digi, HELP University, Rhombus Connexion and Spritzer.
Through the programme, startups will get an opportunity to explore pilot projects with these organisations, validate business with feedback from them, explore real-world product testing and build up traction by having these organisations as potential customers.
In addition, startups will also get support from mentors from Nexea and have an opportunity to get funded by Nexea and its co-investment partners.
Startup-Corporate Pilot Programme will start in July and run in parallel with Nexea’s startup accelerator programme.
Nexea has run three rounds of the accelerator programme since 2016. More than 400 have applied in total, and 11 have been selected to participate in the full programme.
The Startup-Corporate Pilot Programme is open to Malaysia-based startups ranging from ideation stage all the way to pre-series A.
Applications to join are now open and will be closed on June 24, 2019. Nexea is looking to enroll startups in the areas of connectivity, fintech, Internet of Things, SME solutions, F&B’s, education, healthcare and home services.
Nexea managing partner Ben Lim said, “Startup-Corporate Pilot Programme is bridging the gap between startups and industry players. Many startups desire a working relationship with corporate entities but many too are unable to attain it due to various reasons.
“So, this year, besides running our regular Startup Accelerator Programme we are bringing something different to the ecosystem – a platform where startups have direct access to corporations so they can explore potential collaborations. We are delighted that Digi, HELP University, Rhombus Connexion and Spritzer join in on our mission to help provide expert insights and opportunities for startups in our programme.”
Experienced entrepreneurs, CEOs and heads of innovation from the participating organisations will get involved in the programme. With this approach to collaborations, Nexea hopes to accelerate corporate innovation and the Fourth Industrial Revolution (IR 4.0).
Nexea has, in its team, experienced mentors where most of them are entrepreneurs, half of them have held C-level positions like CEO and some of them have successfully brought companies to initial public offering (IPO).
Digi head of Strategy and Transformation Alex Foo, said, “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.”
HELP International Corporation Bhd executive director Adam Chan, stated, “As HELP University embarks on its transformation plan to become an analytics-driven institution and one that provides our students with the opportunity to test their entrepreneurial acumen, working with Nexea provides the platform for our students and graduates to embark on this journey.
“Nexea has a strong programme in this area and we are confident that the resources of both parties could potentially provide the catalyst to unearth the next unicorn.”