A leading Malaysian oil and gas company, Petroleum Nasional Berhad (Petronas) collaborates with 500 Startups to introduce startup accelerator in Malaysia

The main targets of this batch are industry 4.0, future of energy, digital transformation retail innovation, and specialty chemicals and advanced materials

A Malaysian oil and gas company, Petroleum Nasional Berhad (Petronas) has declared its corporation with worldwide investor 500 Startups to introduce a technology accelerator in Malaysia.

They have launched a new program named Petronas FutureTechnology, its purpose is to identify and develop national technology entrepreneurs, strengthen them and train them up to international standards, and also develop and shape the technology-driven startup ecosystem in Malaysia.

Approximately 20 domestic startups will be shortlisted to be subjected to an accelerated 8-week program.

The program includes various trainings like lectures, seminars, workshops, training with the experts from Silicon Valley and 500 startup’s international network and also with the mentors from Petroleum Nasional Berhad organizations and the gas and oil industries.

The end of this program is expected in November. By the end, the startups will pitch there to the initiators of this program i.e Petroleum Nasional Berhad (Petronas) as well as to the businesses who invested in the venture, the businesses who possible could be future partners and the media.

The best 3 startups will then be selected and they will then continue to engage in an international immersion program to upscale their skills and expertise in both business advancement and in taking up the favorable changes to expand globally.

These 3 best-selected startups will also get an approach to Petroleum Nasional Berhad (Petronas) assets and possessions, specialists and access of the Fortune Global 500 organizations.

The application process for this program has now started and the companies can apply for the program latest by September 16, 2019.