Cyberview Living Lab Accelerator hits 10th anniversary with 10 startups taking part in its Cohort 19 Demo Day
Cyberview Living Lab Accelerator hits 10th anniversary with 10 startups taking part in its Cohort 19 Demo Day
Cyberview Living Lab Accelerator hits 10th anniversary with 10 startups taking part in its Cohort 19 Demo Day
- Since inception startups have raised US$58m investments with US$185m revenue
- Funding came from various VCs, investors and government grants over the 10-year period
[Ed: Sub-heads changed to emphasise the fact that over the 10 year period of the CLLA, various parties and agencies have supported the startups that took part in the Cyberview run accelerator. For Cohort 19, the six startups that received funding, raised their investments before they participated in CLLA. Edit made on 5pm, 17th Jan.]
[Ed: Headline changed for accuracy. Edit made 5pm, 19th Jan.]
“Malaysia has made great strides in establishing itself as a hub for innovation and entrepreneurship, and programs like the Cyberview Living Lab Accelerator (CLLA), are instrumental in achieving this mission,” said Chang Lih Kang, minister of Science, Technology and Innovation (MOSTI) at the accelerator’s cohort 19 Demo Day in Cyberjaya, yesterday. The 19th Demo Day also marked the accelerator’s 10th anniversary.
“Since its inception in 2014, the accelerator has been instrumental in empowering over 129 startups, securing more than US$58.40 million (RM263 million) in investments and generating an impressive US$185.88 million (RM837 million) in revenue,” he said.
Remaining steadfast
Regardless, he also said, “we remain steadfast in the commitment to creating an environment that nurtures innovation and entrepreneurship through initiatives such as the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030 and the My Startup Platform, aiming to empower startups, facilitate collaboration and drive commercialization of innovation solutions.”
The minister also emphasized the importance of Cyberjaya as Malaysia's global tech hub and sandbox that plays a critical role in this mission.
“It is not just a physical location, but a living, breathing ecosystem where ideas flourish, partnerships are forged, and solutions are scaled. The Cyberview Living Lab initiative exemplifies this vision by bridging the gap between innovation and impact across all the balance sheets,” Chang said.
Cohort 19
Romli Ishak (pic), chairman of Cyberview, in his remarks, said, “Over the past decade, this program has gone on to become one of Malaysia's longest running accelerators, serving as a launchpad for local tech startups to bring their ideas to life and accelerate their journey towards commercialization.”
For Cohort 19, around 90 startups had applied for the program with 24 chosen. They were then given access to resources and workshops as part of CLLA 19.
After a five-month incremental support and process, 10 startups were chosen for the demo day:
- Midwest Composites - Manufacturing advanced composites and biocomposites with natural fibre mats from Kenaf, Jute, and Bamboo. Focused on the automotive and EV sectors, these eco-friendly bio-composites reduce weight and carbon emissions.
- Pixelence - An AI-driven radiology service that allows radiologists to run scans through image acquisition, image upscaling, image enhancement, diagnosis, and auto-generation of reports to reduce time, cost, and make decisions faster.
- Shieldbase AI - AI solution that leverages large language models (LLMs) to improve productivity through task automation and insights while ensuring data privacy.
- IOXTECH Global - A construction project management software solution, with the goal of addressing challenges such as workforce tracking and real-time updates.
- Reyhut - Targets the hospitality industry by digitising hotel operations, building automated self-check-ins and smart locks to replace traditional cards and keys.
- Wiser Machines - Targets the manufacturing sector by reducing machine breakdowns and boost operational efficiency using IoT solutions.
- Airlytic - Building an aerial analytic platform to create sustainable solutions for industries to increase their productivity via AI-driven aerial intelligence.
- ALT Synergy - Targets the nutraceutical industry with AI-driven digital platforms to enhance bioavailability and streamline product development.
- Vee Smart Home - Smart home solutions, offering advanced security features like License Plate Recognition and Face ID access, alongside automated payment systems.
- Vidanex - Using AI-driven digitalisation to improve clinical cancer diagnostics and pathology services.
Out of the top ten, six have raised a cumulative sum of US$241,181 (RM1.085 million) which consists of funding from various investors and government grants that they have raised since their respective founding. None of their funding came from participating in CLLA 19:
- Midwest Composites (RM240,000)
- Shieldbase AI (RM225,000)
- IOXTECH Global (RM100,000)
- Reyhut (RM320,000)
- Wiser Machines (RM100,000)
- Airlytic (RM100,000)
Shieldbase AI received recognition as both the judges and the crowd favourite, receiving RM5,000 and RM3,000 respectively. The cash was provided by Cyberview and Growth Charger respectively.
[Ed: Para updated with additional information.]
Midwest Composites was awarded RM3,000 for being a partner’s favourite by Leave a Nest Malaysia, a unit of Leave a Nest, a leading Japanese startup ecosystem partner.
Muhammad Adrian Wong, who was a part of CLLA’s first cohort back in 2014 and attended the 19 Cohort Demo Day, said, “The event was awesome, the quality of startups that had pitched are more matured now in the sense that the founders, CEOs, and CTOs are very experienced, their products are very matured.”
Besides seasoned leadership teams, he also noted that the startups have received market recognition in the form of winning competitions and receiving grants. “These startups have also won numerous competitions and grants prior as well,” Adrian said.