Linkup bags top spot at Huawei Spark Accelerator 2022 Malaysia
By Digital News Asia December 7, 2022
- In addition to financial, technical & networking aid, follow-on funding of US$1mil
- Has brought together 1k startups worldwide, including key ecosystem players
LinkUp emerged as the champion of Huawei Spark Accelerator 2022, a hybrid tech accelerator competition organised by Huawei Technologies (Malaysia) Sdn Bhd. LinkUp clinched the first spot among 10 finalists shortlisted from more than 250 entries in the competition while FusionQB and Alpha Fintech were announced as the first and second runner-ups, respectively.
LinkUp specialises in smart home integrated solutions, providing end-to-end solutions in areas including home automation, security and surveillance, as well as assistive technology leveraging on their proprietary Smart Hub and Control App, while FusionQB is a leading data driven company that provides sales automation and business superapp solutions with customer data analytics and predictive engines. The second runner-up, Alpha Fintech, provides comprehensive digital terminal supply with one-stop payment solutions to assist merchants with cashless and contactless payments.
In addition to providing financial, technical and networking support, the Huawei Spark Accelerator Malaysia 2022 offers an array of rewards for startups, including potential investments of US$56,900 (RM250,000), follow-on funding of up to US$227,000 (RM1 million) and Huawei Cloud Credits of up to US$125,000. The winners will also enjoy the benefits of the Startup Corporate Matching Programme, Peer Startup Network Sessions and an introduction to the Venture Capital Network where they will receive professional support and guidance from Huawei.
The Huawei Spark Accelerator 2022, launched in June this year, saw more than 250 startups and deep tech companies pitch innovative products to a panel of judges, addressing emerging trends in the areas of financial services and insurance solutions, healthcare, agriculture, education, tourism, marketplace solutions, Artificial Intelligence (AI) and machine learning analytics as well as Web 3.0.
Huawei Spark has grown to be a platform to incubate, accelerate and boost innovation of startups and deep tech companies in the country as part of Huawei’s initiative to be the driving force behind Malaysia’s digital transformation into a digital capital for the ASEAN region by 2030.
The competition partnered with NEXEA, that is known for having experienced mentors and connecting startups with leading Angel Investors, in collaboration with Malaysia Digital Economy Corporation (MDEC), Malaysian Research Accelerator for Technology and Innovation (MRANTI), Selangor Information Technology and Digital Economy Corporation (SIDEC), Cyberview Sdn Bhd, Sarawak Digital Economy Corporation Bhd (SDEC), TusStar and Digital Penang.
The judges for the finals included Chief Innovation Officer of MRANTI, Muhundhan Kamarapullai; Head of Innovation and Entrepreneurship of SDEC, Hazwan Razak; Director of Digital Industry Development of MDEC, Miss Yvonne Yong; Vice President, Fintech Association of Malaysia, Farah Jaafar; President of the Malaysian Business Angel Network, Alan Lim; Assistant Director of ALTA, Nicholas Kew and Head of Partner Ecosystem Development of Huawei Cloud Malaysia, Low Wei Chung.
Vice President of Huawei Cloud Malaysia, Lim Chee Siong said that startup companies have become the driving force for innovation and that Huawei is confident in the potential of startups in Malaysia to keep the digital landscape vibrant.
“Huawei Spark is one of many ways through which Huawei can share its expertise and resources to help prepare newcomers in the ICT industry for an increasingly intelligent and complex world as well as to assist in fostering the next generation of digital talent and the country’s next unicorns,” he said.
Lim added, “The key to accelerating digital transformation is to have a thriving startup ecosystem. Innovation never ceases and we are committed to assist in Malaysia’s digital upscaling to secure its position as the Asean Digital Capital.”
After the successful run of the programme in Malaysia in 2021, Huawei has continued to open its doors to aspire and cultivate potential ‘Malaysian-made’ startups to be new unicorns in the next two to three years with the second edition of the competition this year.
Huawei Spark was first introduced in 2020 to empower tech startups to obtain investments, guidance, and support from investors, mentors, and corporations. To date, Huawei Spark has brought together 1,000 startups worldwide, including key ecosystem players, connecting founders, policymakers, enterprises, and investors to discuss Asia’s digital future, harness thought leadership and best practices, as well as showcase products and upcoming startups.
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