- Aims to incubate, boost innovation of startups in Malaysia
- Qualified startups pontentially to get up to US$54,000 investment
Huawei Spark Accelerator 2022, a competition organised by Huawei Technologies (Malaysia) Sdn Bhd to empower startup capabilities, has announced the 10 startups finalists for the final pitch in the programme’s grand finale.
In a statement the telco vendor said the competition aims to incubate, accelerate and boost innovation of startups and deep tech companies in the country.
This is part of its initiative to be the driving force behind Malaysia’s digital transformation into a digital capital for the Asean region by 2030, it said.
Huawei Spark was founded to empower tech startups to get investments, guidance, and support from investors, mentors and corporates.
After the successful run of the programme in 2021, Huawei said it 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.
It said the competition is a hybrid accelerator for tech startups and it has partnered with Nexea, a firm known for having experienced mentors and connecting startups with leading angel investors.
Additionally, it has collaborated with Credence, Malaysia Digital Economy Corporation (MDEC), Sarawak Digital Economy Corporation (SDEC), Malaysian Research Accelerator for Technology and Innovation (MRANTI), Selangor Information Technology and Digital Economy Corporation (SIDEC), TusStar (Malaysia), Digital Penang and Cyberview Sdn Bhd.
According to Huawei, the top ten startups shortlisted are in the running for a potential investment of up to US$54,000 (RM250,000), follow-on funding of up to US$218,000 (RM1,000,000), and Huawei cloud credits of up to US$125,000 (RM572,500).
Additionally, Huawei said the chosen startups will enjoy the benefits of the startup corporate matching programme, peer startup networking sessions, and an introduction to the Venture Capital (VC) Network, where they will receive professional support and guidance from Huawei.
The ten companies that made it to the top were:
- Alpha Fintech;
- LinkUp Smart Solutions;
- BuildSpace (Global Pck Solutions);
- Intelligence Traceability;
- StudentQR (MyFuturity Global);
- Gamelobb Studio; and
These companies were among the 10 finalists shortlisted from more than 250 entries in the Huawei Spark competition and this year’s grand finale will be held on Dec 5 this year.
Lim Chee Siong, vice president of Huawei Cloud Malaysia, said, “The Huawei Spark programme is an excellent platform for local startups to enhance their business development opportunities, build a healthy ecosystem, and foster strong relationships between startups and venture capitalists.
“It is also an excellent opportunity to promote the integration of government-Industry partnerships that will enable the scaling up of digital startups in the country and help them in competing on the global stage,” said Lim.
He added that Huawei is confident in the potential of the startups in this country to inject new energy into the nation’s digital landscape, as was reflected in their impressive business pitches.
Lim said through the programme, participants are also able to leverage Huawei’s leadership in technology and innovation.
“This will assist them in seizing opportunities posed by the digital transformation process, as well as in achieving business success, and in developing more innovative products and solutions for the world,” he added.
To date, Huawei Spark claimed to have 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.
Click here for more information on the Huawei Spark Accelerator Malaysia 2022.