SINGAPORE, May 26, 2023 /PRNewswire/ — Plug and Play, a global innovation platform headquartered in Silicon Valley has announced its plans to launch a new office in Kuala Lumpur, Malaysia to support the Future Malaysia Programme by sovereign wealth fund Khazanah Nasional Berhad. Its primary responsibility will be to accelerate the growth of the innovation ecosystem in the country by working with leading corporations and top high-potential startups across the globe through its accelerator programme, which will focus on areas related to Digital Society & Technology Hub, Sustainability & Climate Resilience, and Food Security & Agriculture. These areas are carefully curated to fulfill Malaysia’s agenda, build capabilities for the economy, and future-proof several industries present in the country.
The Future Malaysia Programme aims to transform technologies via stakeholder involvement that benefits participating startups, corporations, investors, and governments who look to invest and scale emerging technologies in the country. Plug and Play will support this through its accelerator programmes, a platform that leverages its impact through international ties, promoting the attraction and development of tech talent, investments, and more. Startups of all stages from around the globe will be considered to participate and work with the relevant stakeholders to pilot, scale, and commercialise solutions in Malaysia in line with the programme themes.
Dato’ Amirul Feisal Wan Zahir, Managing Director of Khazanah Nasional Berhad said, "We are pleased to collaborate with Plug and Play to establish a Malaysia-based corporate innovation platform that enables Malaysian corporates to discover and match innovative technology to their business needs. This initiative is in line with our Advancing Malaysia strategy and commitment to delivering sustainable economic and societal benefits for the nation.
As corporate innovation is vital for corporates to remain at the forefront of technology trends, we will leverage this platform to create more opportunities for both local and international startups to collaborate with leading Malaysian corporates, pooling resources and expertise to solve real business and innovation challenges and drive potential value creation for both parties. By announcing this collaboration alongside prominent Malaysian corporates, such as CelcomDigi and Sime Darby Plantation, we hope to crowd in more Malaysian corporates to participate in this programme as an all-of-Malaysia approach will be crucial to boosting the local startup ecosystem in Malaysia."
"Plug and Play is excited to be part of this new initiative with Khazanah Nasional, CelcomDigi and Sime Darby Plantation as its initial set of partners. With our global presence spanning more than 50 locations and a network of more than 80,000 startups, we are confident that we will be able to identify the world’s best top potential startups that will be able to drive their innovative solutions across the thriving innovation landscape in Malaysia. "said Jupe Tan, Managing Partner of Plug and Play APAC. "We look forward to being able to contribute to the growth of the innovation ecosystem in Malaysia in the coming months, as well as setting up our office in Kuala Lumpur."
The programme also looks to partner with Malaysia’s leading conglomerates to leverage their domain and vertical expertise to pilot, commercialise and invest into emerging technology companies both locally and from across the globe looking to enter and add value to Malaysia. Joining Khazanah Nasional and Plug and Play would be the likes of communications conglomerate CelcomDigi, and the world’s largest producer of certified sustainable palm oil, Sime Darby Plantation, with more partners set to come onboard in the coming months. Corporations who join the programme will also be able to explore and match technology and ideas with their innovation needs. The programme also looks to incubate corporate best practices and early-stage investment capabilities for participating corporations.
"The Future Malaysia Programme provides CelcomDigi with a unique opportunity to connect with over 80,000 startups in stimulating innovation and synergy between startups and corporates. We are committed to collaborating with other companies and exploring new solutions in areas such as artificial intelligence/machine learning, Web 3.0, digital SME solutions, metaverse, etc. This is further made possible through CelcomDigi’s Innovation Centre which is dedicated to exploring and developing innovative technologies, while creating a vibrant ecosystem where startups can thrive and make a meaningful impact. CelcomDigi’s focus on innovation and exploration has always pushed us to explore new boundaries and we look forward to playing a significant role in shaping the future of Malaysia’s technological landscape," shared T. Kugan, Chief Innovation Officer, CelcomDigi.
"Sime Darby Plantation is challenging conventions in an industry that has operated in almost the same way for over a century. When the world shut down three years ago, we realised that the path ahead would be fraught with challenges, unless we changed – our thinking and the way we work. For years, we had set standards, producing the best quality palm oil, produced sustainably and with cutting-edge technology to guide us. Thus, we already had the building blocks in place to develop the plantation of the future.
"Today, we have drones and advanced machinery working alongside our people. We use AI and digital data. We use genomics to improve the yields of what is already the most versatile, nutritious, and productive edible oil in the world. We are collaborating with some of the brightest in Universities, at startups, and among young entrepreneurs, both in Malaysia and in other countries to develop automation and robotic solutions. We had imagined a different sort of oil palm plantation and today, we are creating it together with other visionaries.
"The Future Malaysia Programme is a tremendous opportunity for us to further explore new technologies and innovations that can strengthen not only our climate resilience and renewable energy initiatives but also our capabilities in digitalisation and robotics. We are truly excited about the prospect of co-innovating with other corporates and new startups to tap into new ideas and synergies that can help us to find solutions. We are committed to working closely with all programme partners to leverage on our collective expertise and deliver meaningful and sustainable results to our business and industry," said Mohamad Helmy Othman Basha, Group Managing Director, Sime Darby Plantation.
The Future Malaysia Programme is set to launch in the latter half of 2023, and recruitment is underway for startups and additional new corporate partners. Interested parties who wish to participate in the newly established innovation platform may submit their interest below.
Find out more about the Future Malaysia Programme: Click Here
About Khazanah Nasional Berhad
Khazanah Nasional Berhad ("Khazanah") is the sovereign wealth fund of Malaysia entrusted to deliver sustainable value for Malaysians. In line with its long-term strategy of Advancing Malaysia, Khazanah aims to deliver its purpose by investing in catalytic sectors, creating value through active stewardship, increasing its global presence, as well as building capacity and vibrant communities for the benefit of Malaysians.
For more information on Khazanah, visit www.khazanah.com.my.
About CelcomDigi Berhad
CelcomDigi Berhad (formerly known as "Digi.com Berhad") is Malaysia’s largest mobile network operator with more than 20 million users on its network. Established on 1 December 2022, the company aims to serve the growing digital needs of its customers by leveraging its newly combined widest network footprint, distribution touchpoints, innovative range of digital products and services, and superior customer experience powered by over 4,000 top industry experts. The company has clearly defined ambitions to advance the nation, inspire Malaysian society, and be a leader in inclusion and responsible business practices. For more information on CelcomDigi, visit www.celcomdigi.com.
About Sime Darby Plantation Berhad
Sime Darby Plantation (SDP) is the world’s largest producer of Certified Sustainable Palm Oil (CSPO), producing over 2.12 million MT or 14.7% of global CSPO production (as of 31 December 2022).
As a fully integrated global plantation company, SDP is involved in various activities along the full spectrum of the palm oil value chain, including upstream and downstream operations, Research & Development, renewables as well as agri-business. Its upstream operations are spread across Malaysia, Indonesia, Papua New Guinea and the Solomon Islands. Its downstream business, also known as Sime Darby Oils, spans 12 countries worldwide and involves the trading, manufacturing, as well as the sales and marketing of refined oils and fats products, oleochemicals, palm oil-based biodiesel, nutraceuticals and other palm oil derivatives.
With a workforce of over 80,000 employees and a strong focus on operational excellence, research, innovation and sustainability, Sime Darby Plantation is one of the largest companies on Bursa Malaysia, with a market capitalisation of RM30.08 bil (USD6.51 bil) as of 24 May 2023.
About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since its inception in 2006, our programs have expanded worldwide to include a presence in over 50 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 80,000 startups and over 550 official corporate and government partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with hundreds of leading Silicon Valley VCs and host more than 1,000 networking events per year. Companies in our community have raised over $12 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal.
Our Asia Pacific headquarters was launched in Singapore in 2010 and we have since expanded into Indonesia, the Philippines and Thailand. Since then we have invested in more than 50 startups and have collaborated with various governments as well as multinational and regional corporations to multiply their innovation efforts through initiatives such as industry-specific accelerator programs.
For more information: visit www.plugandplayapac.com