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NEXEA Angels Sdn. Bhd. (“NEXEA”), a leading startup investment firm today announced the launch of its Startup-Corporate Pilot Program that aims at bringing together local technology startups and corporations for the purposes of identifying and exploring potential collaborations among them. The program is held in partnership major organizations namely Digi, HELP University, Rhombus Connexion and Spritzer. Through the program, startups will get an opportunity to explore pilot projects with these organizations, validate business with feedback from them, explore real-world product testing and build up traction by having these organizations 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 Program will start in July and run in parallel with NEXEA’s startup accelerator program.
The Startup-Corporate Pilot Program 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 24 June 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.
Ben Lim, Managing Partner of NEXEA said, “Startup-Corporate Pilot Program 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 Program 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 program.”
Experienced entrepreneurs, CEOs and heads of innovation from the participating organizations will get involved in the program. 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).
Alex Foo, Head of Strategy and Transformation at Digi 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 Program, 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.”
Adam Chan, Executive Director of HELP International Corporation Bhd. 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 program in this area and we are confident that the resources of both parties could potentially provide the catalyst to unearth the next unicorn.”
Kent Chua, Co-Founder of Rhombus Connexion said, “In the era of disruption we face today, it is an “innovate or die” situation for corporates. Thus what better way than to work closely with brilliant young minds via NEXEA to tap on to their wild ideas and play a role in shaping and supporting the world’s future today.”
Meanwhile, Kenny Lim, CEO of Spritzer Bhd., said, “The market is moving into AI, robotic technology, digitalization and etc., whether you like it or not, but indeed the spirit of entrepreneurship is always the first step on how an idea can be turned into conglomerate. Spritzer is a home grown brand, the entrepreneurship spirit is one of the factors that makes us to be where we are at today. One of our roles here is to share what we have learned, so others can shine.”
