KUALA LUMPUR (Oct 25): Ten start-ups in artificial intelligence (AI) and biotechnology, who were crowned as the champions of the sixth cohort of the Selangor Accelerator Programme 2023 (SAP23), will get the chance to exhibit their innovative solutions at the Meet Taipei 2023 expo, which is happening from Nov 30 to Dec 2, and partake visits to leading tech companies in Taiwan, said Selangor state assemblywoman Lim Yi Wei.

In response to the performance of the local start-ups in the final demo day, Lim called for anticipation of a future marked by innovation, achievements, and a more robust, dynamic entrepreneurial environment in Selangor. 

“This year’s fiercely competitive cohort includes start-ups in the fields of plant-based [mock] meat products, autonomous robotics for oil palm tree fertilisation, composite machinery addressing food waste, superfood production with cutting-edge sprouting technology, tech specialising in advanced video analytics and AI solutions, AI farming, and a food exchange for Southeast Asia serving as the gateway of Malaysia’s excellence to the rest of the world.”

The final demo day, which was held on Oct 22, was the climax of the eighth Selangor Smart City and Digital Economy Convention (SDEC) 2023 event, where 20 innovative start-ups participated in showcasing their cutting-edge tech solutions to a diverse audience of investors, industry experts, and potential partners.

The SAP23 has successfully attracted 40 highly competitive start-ups, ranging from seed round to Series A funding, out of 232 applications, said Yong Kai Ping, the chief executive officer of Selangor Information Technology and Digital Economy Corporation (Sidec).

“What sets us apart is our ability to attract founders not only from Malaysia, but also from the United Arab Emirates, Japan, Singapore, and Bangladesh,” said Yong.

Throughout the programme, 40 start-ups were classified under two categories — AI tech and biotechnology — where only 20 finalists were present for their final pitch on Sunday. 

The winners for the AI tech category were Reskills Edtech Sdn Bhd, Dreamory Entertainment Group Sdn Bhd, Biib from Neupulse Sdn Bhd, Mysyarikat from Byond Tech Global Bhd, and Gotechup from Tech Up Advance Sdn Bhd. 

Meanwhile, Maeko from Mentari Alam EKO (M) Sdn Bhd, Braintree Technologies Sdn Bhd, Midwest Composites Sdn Bhd, Ultimeat (M) Sdn Bhd, and Bio Tree Pharmaceutical (Int'l) Sdn Bhd won the biotechnology category. 

The winners shared a pool of RM200,000 prize money, global recognition, an overseas trip, and invaluable business networking investment opportunities.

The sixth cohort of the SAP23 unveiled Selangor's unwavering commitment to driving innovation within start-ups, placing a spotlight on verticals including sustainability impact, health technology, agritech, and the newly added realms of AI and biotech. 

The event marked a significant milestone in the SAP23 programme, highlighting the progress and achievements of the participating start-ups while fostering collaboration and knowledge exchange within the thriving ecosystem of technology and innovation.

The SAP23’s comprehensive two-month programme includes training workshops, pitching mastering classes, industrial visits, and a semi-final round. The 20 semi-finalists are selected by a panel of esteemed judges from Invest Selangor Bhd, Malaysia Venture Capital Management Bhd (Mavcap), Malaysia Digital Economy Corporation (MDEC), Cradle Fund, Malaysian Technology Development Corporation (MTDC), Auto Count, Petronas Venture, and Xeraya Capital.

Affin Bank has taken the centre stage as the primary sponsor of the highly anticipated SAP23, while co-organiser Invest Selangor aims to identify Malaysian talents to catalyse the biotechnology sector in the region.

The SAP is a structured three-month programme that aims to assist start-ups in the early stage, defined as start-ups that have not gone for Series A funding. With a commendable track record since its 2018 inception, the SAP has successfully nurtured over 150 start-ups, with key players from its 2022 cohort, including Entomal Biotech and BlueDuck, securing funding within a year of the programme's conclusion. 

The programme module comprises 11 workshops, three pitching clinics, five mentoring sessions, as well as a closed-door semi-final and final demo day.