Sunway Group accelerates Net Zero ambitions through partnership with Deeptech Labs
By Sustainability Matters June 15, 2023
* Partnership will commercialise and accelerate growth of net zero technologies
* Cambridge-based accelerator will facilitate entry of SEA startups into UK market
Sunway Group, one of Southeast Asia’s leading conglomerates, today announced a strategic partnership with Deeptech Labs, a venture capital fund and deeptech specific accelerator based in Cambridge (UK), through its innovation arm, Sunway iLabs. The partnership was announced at London Tech Week and witnessed by Minister Dominic Johnson, Minister for Investment at the Department of Business & Trade, and Natalie Black, Trade Commissioner for Asia Pacific.
The collaboration aims to bolster synergies in deep tech and foster breakthroughs in net zero technologies, while also providing UK startups with unparalleled opportunities to access Southeast Asia’s thriving and ever-growing market.
“As a deeptech-specific accelerator, we’re focused on drawing in specific sector experts, investors and founders which are arguably solving some of the world’s greatest challenges. This partnership between our organisations will be instrumental in commercialising and accelerating the growth of net zero technologies. Together, we will open new avenues for UK startups to tap into Southeast Asia, while facilitating the entry of Southeast Asian startups into the UK market. Together, we look forward to making a significant impact," said Miles Kirby, co-founder of Deeptech Labs.
“When it comes to deep tech, Cambridge’s ecosystem is one of the most advanced in the world, driven by world-class talent, strong IP, and a cluster of successful tech companies. What we like about Deeptech Labs is that they have been able to embrace the key ingredients of this ecosystem to build the next generation of entrepreneurs and startups that have a chance of changing the world for the better. This aligns with our Net Zero Lab initiatives, aimed at leveraging technology and innovation to accelerate Sunway’s ambition to become net-zero by 2050. Through this partnership we are determined to advance the development of sustainable solutions, propelling Malaysia's journey towards a greener and more sustainable future,” said Matt van Leeuwen, chief innovation officer of Sunway Group and director of Sunway iLabs.
A recent collaboration between Sunway iLabs and the Department of Business and Trade, in conjunction with the UK-MY Digital Innovation Programme Demo Day, resulted in fruitful talks and collaborations during and after the event held in March 2023. The primary focus of these discussions was to bring deep tech and net zero solutions into Malaysia, further strengthening the country's innovation landscape. Notably, finalists from the programme have expedited their progress into the Net Zero Lab, which was soft launched during the demo day.
“I am delighted that Deeptech Labs and Sunway Group have partnered to support UK startups in their entry to the fast-growing Malaysian and Southeast Asian markets. Building on the UK-Malaysia Digital Innovation Partnership from last year’s London Tech Week, this collaboration will see British tech support Malaysia’s net zero transition. I look forward to the innovation and new relationships that will unfold through this partnership,” said Natalie.
Sunway iLabs’ Net Zero Lab specifically targets renewable and efficient energy, food security, sustainable cities, and the circular economy. Participating startups will have exclusive opportunities to test and validate their solutions and products within Sunway's thriving ecosystem. Additionally, they will gain access to a network of mentors, workshops, investors and industry experts on a global scale, leveraging Sunway's extensive resources.
Through cross-border innovation programmes like the Net Zero Lab, startups from the UK market and beyond can also leverage Sunway's tes tbeds to pilot and localise their solutions and use this as a launchpad into Southeast Asia.
Sunway has fully embraced and integrated the 17 Sustainable Development Goals, adopted by the United Nations in 2015, into its corporate strategy and business practices. Last year, the Group took its commitment to the sustainability agenda one step further by implementing an internal carbon-pricing framework to achieve net zero carbon emissions by 2050 – the first corporation in Malaysia, and among the first in Southeast Asia, to introduce such a carbon reduction strategy.
By partnering with Deeptech Labs and supporting the Net Zero Lab initiatives, Sunway aims to create an empowering ecosystem that propels startups to drive sustainable progress, contributing to a net-zero future for the betterment of society.
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