MYStartup, a Malaysian government-owned platform powered by Cradle Fund Sdn Bhd. (Cradle), has collaborated with Digital Nasional Berhad (DNB) to launch a hackathon (MYStartup Hackathon 2022) targeted at solving DNB’s key corporate challenges.
The joint hackathon is envisioned to bring technological advancements within the problem-solving space of corporates and commercial industries to encourage ideation activities between corporations, emerging startups, and public tech teams, MYStartup said in a statement on Thursday.
Paving the way for future collaborative opportunities between startups and established corporations, MYStartup will provide a platform for startups to develop creative technological solutions for corporations in tackling their key challenges.
This strategic collaboration strives to accelerate innovation within corporate by working closely with startups.
DNB, wholly owned by the Ministry of Finance in Malaysia, has been mandated by the government of Malaysia to be the single neutral party to deploy the country’s 5G network and infrastructure nationwide.
While the 5G rollout is still a work in progress, it is crucial to encourage activities that allow innovative solutions to be built on top of the 5G’s infrastructure.
The MYStartup Hackathon 2022 will enable DNB to gain valuable insights using the startups’ ideation process on effectively incorporating 5G services that are accessible to all.
The central theme around the hackathon is to objectively solve DNB’s areas of concern, which have been detailed in the following problem statements:
1. Floating 5G deployment for a cost-effective 5G service for all palm oil plantations in Malaysia;
2. Developing a dynamic advertising engagement platform; and
3. Developing a factory of tomorrow with 5G-based AI Machine-Vision quality inspection tackling the Quality Assurance (QA) and Health, Safety, Security and Environment (HSSE) questions.
“We hope that this programme will act as a catalyst for even more strategic collaborations between startups and players from the corporate sectors in Malaysia and across the region as well”, said Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle.
Starting on January 6, the hackathon consisted of three days of hackathon, masterclasses and one-on-one mentoring sessions.
Shortlisted participants will undergo a boot camp to prepare them for the final pitching session on 14 January.
Winners will receive MYR10,000 ($2294) for solving each problem statement and a partnership with DNB to help implement the winning solutions in its ecosystem.
Eligible startups and entrepreneurs are invited to participate in this event to explore the endless possibilities of technological advancements that can assist corporate solutions in an increasingly digital age.
MYStartup Strategy is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI) in Malaysia.
It consists of several programmes which aim to strengthen the startup ecosystem and community in Malaysia. Among them are; MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship.
The programmes aim to ensure startups are thoroughly guided starting from the ideation stage, trained, supported and opportunity to highlight their company profile to attract foreign investors.
The MYStartup Programme is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole.
This effort is also in tandem with MOSTI’s target of creating 5,000 start-ups and producing five unicorn status companies by 2025.
Cradle is Malaysia’s early-stage startup influencer, incorporated in 2003 with a mandate to fund potential and high-calibre tech startups through its Cradle Investment Programme (CIP). The firm is presently administered by MOSTI.
Following the announcement of the Malaysian Startup Ecosystem Roadmap (SUPER) in 2021, Cradle has been appointed as the focal point agency for Malaysia’s start-up ecosystem and mandated to ensure the successful running of a holistic ecosystem to enable and encourage growth among startups.
Cradle has helped fund over 1000 Malaysian tech startups and holds the highest commercialization rate amongst government grants in the country.
Currently allocated under the 12-Malaysia Plan, two new grants are made available to the startup ecosystem – CIP SPARK and CIP SPRINT.
MYStartup Accelerator Program Cohort 2 offer funding and opportunities for tech startups