Clear vitality knowledgeable, Solarvest Holdings Berhad has at present launched Solarvest Innovation Lab 2023 (SIL 2023), a continuance and revitalisation to the start-up programme that the Group initiated again in October 2021 (“SIL 2021”).
SIL was based to spur innovation and entrepreneurship developments in Malaysia with a key concentrate on inexperienced expertise (“greentech”), monetary expertise (“fintech”), and renewable vitality. It goals to draw budding entrepreneurs with revolutionary concepts and to supply the fitting mentorship teaching, enterprise community and monetary help to speed up the commercialization of those companies.
Beneath SIL 2023, Solarvest is collaborating with a bigger group of strategic companions to additional improve the effectiveness and success elements of start-ups. Becoming a member of the notable names of SIL 2021’s companions equivalent to Malaysia Digital Economic system Company (“MDEC”), Telekom Malaysia Berhad, and OCBC Financial institution (Malaysia) Berhad, the brand new company companions below SIL 2023 embrace Microsoft Malaysia Sdn Bhd (“Microsoft Malaysia”) as a strategic expertise accomplice; Pitch Platforms Sdn Bhd (“pitchIN”), an fairness crowdfunding platform; Alta Group Malaysia, a digital market for different investments and Widespread Floor Works Sdn Bhd (“Widespread Floor”), a supplier of coworking areas in key areas nationwide.
Solarvest Govt Director and Group Chief Govt Officer Davis Chong Chun Shiong stated, “The brand new company companions below SIL 2023 are market leaders of their respective fields and this may improve the general attractiveness, flexibility and variety of the programme. Collectively, we goal to create an ecosystem that helps start-ups at each development stage.”
“SIL 2023 can have a broader and extra impactful attain amongst start-ups, offering a holistic method to their technical and enterprise wants, capital necessities, and networking alternatives in unlocking the business potential of their modern ideas.”
“As an trade chief within the clear vitality area, we goal to unearth revolutionary concepts in these key industries of greentech, fintech and renewable vitality which play a vital function within the clear vitality ecosystem. Therefore, additional pushing the innovation frontier and bridging the hole between new enterprise ideas and marketable options.”
The beginning-up programme consists of two rounds of funding. The seed funding spherical affords chosen candidates RM10,000 to show a enterprise idea inside a six-month timeframe. Subsequently, candidates with viable enterprise concepts might take part within the accelerator funding spherical to probably obtain a capital of RM100,000 to execute their concepts inside twelve months.
Beneath Solarvest’s SIL 2021, 6 candidates have been chosen below the seed funding spherical to be supplied a grant of RM10,000 every. In the meantime, the accelerator funding spherical garnered a constructive response of over 50 submissions, of which 9 have been shortlisted to pitch their concepts to a panel of judges which comprised of representatives from Solarvest and different company companions.
“As well as, as we’re venturing right into a vertical growth throughout the clear vitality ecosystem, Solarvest might combine viable enterprise concepts within the growth of higher options that can assist enhance vitality yield and total efficiencies,” Davis added.