Clean energy specialist, Solarvest Holdings Berhad hosted the final stage (accelerator funding pitch) of its inaugural start-up programme, Solarvest Innovation Lab, at Common Ground, Bukit Bintang.
A total of 8 start-ups hailing from sectors such as green technology, financial technology (fintech), and renewable energy participated in the accelerator funding pitch. 3 of the companies involved were winners from the seed funding round held in late 2021, while the remaining 5 qualified directly.
Executive Director and Group Chief Executive Officer of Solarvest, Mr Davis Chong Chun Shiong said, “Currently, the renewable energy sector is still at a malleable stage compared to brown energy. Industry players are actively participating in the development of better solutions that will help increase energy yield and overall efficiencies. The innovation lab programme keeps us in pace with industry leaders and is also in sync with our larger narrative to transform the Group into a clean energy specialist.”
“We are very encouraged by the innovative ideas presented by the 8 participants. In general, they contain great potential for implementation. With further mentorship and guidance from our team, we are confident that they will reach marketability in the near term. In addition, we are also pleased with the fact that many of the ideas are in line with the clean energy verticals we intend to venture into, as well as being synergistic to the current business model of Solarvest. Hence, we are striving to foster long-term relationships with these new start-ups.”
The shortlisted companies will expect to be announced by end of July 2022. They stand a chance to receive a minimum equity investment of RM100,000 each, along with other perks such as business coaching, physical workspace, and more.
Beyond the initial funding and perks, Solarvest will be able to help these companies in future capital raising and grant applications, along with connecting them with the right organisations and people via its extensive business network, particularly in the clean energy space.
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