Sunway Group, a Malaysia-based conglomerate, has on Monday announced a strategic partnership with Deeptech Labs, a venture capital (VC) fund and deeptech specific accelerator based in Cambridge (UK), through its innovation arm, Sunway Innovation Labs (Sunway iLabs).

The collaboration aims to bolster synergies in deep tech and foster breakthroughs in net zero technologies, while also providing UK startups with unparalleled opportunities to access Southeast Asia’s thriving and ever-growing market, Deeptech Labs said in a statement.

“As a deeptech-specific accelerator, we’re focused on drawing in specific sector experts, investors and founders which are arguably solving some of the world’s greatest challenges,” said Miles Kirby, Chief Executive Officer of Deeptech Labs.

According to him, this partnership between the organizations will be instrumental in commercializing and accelerating the growth of net zero technologies.

“Together, we will open new avenues for UK startups to tap into Southeast Asia, while facilitating the entry of Southeast Asian startups into the UK market,” he said.

By leveraging Sunway Group’s extensive ecosystem and resources, he said the firm aims to equip startups with the necessary tools and support to thrive in today’s highly competitive landscape.

“Together, we look forward to making a significant impact,” he added.

According to Matt van Leeuwen, Chief Innovation Officer of Sunway Group and Director of Sunway iLabs, Cambridge’s ecosystem is one of the most advanced in the world in terms of deep tech, driven by world-class talent, strong IP, and a cluster of successful tech companies.

“What we like about Deeptech Labs is that they have been able to embrace the key ingredients of this ecosystem to build the next generation of entrepreneurs and startups that have a chance of changing the world for the better,

“This aligns with our Net Zero Lab initiatives, aimed at leveraging technology and innovation to accelerate Sunway’s ambition to become net-zero by 2050,” he said.

Through this partnership, he said the firm determined to advance the development of sustainable solutions, propelling Malaysia’s journey towards a greener and more sustainable future.

According to the statement, Sunway iLabs’ Net Zero Lab specifically targets renewable and efficient energy, food security, sustainable cities, and the circular economy.

Participating startups will have exclusive opportunities to test and validate their solutions and products within Sunway’s thriving ecosystem.

Additionally, they will gain access to a network of mentors, workshops, investors and industry experts on a global scale, leveraging Sunway’s extensive resources.

Through cross-border innovation programs like the Net Zero Lab, startups from the UK market and beyond can also leverage Sunway’s testbeds to pilot and localize their solutions and use this as a launchpad into Southeast Asia.

Sunway City Kuala Lumpur, Malaysia’s first integrated green city, is the country’s most dynamic living laboratory and a catalyst for generating sustainable real-world solutions that contribute to the prosperity and progress of people and the planet.

Sunway has fully embraced and integrated the 17 Sustainable Development Goals, adopted by the United Nations in 2015, into its corporate strategy and business practices.

Last year, the group took its commitment to the sustainability agenda one step further by implementing an internal carbon-pricing framework to achieve net zero carbon emissions by 2050 – the first corporation in Malaysia, and among the first in Southeast Asia, to introduce such a carbon reduction strategy.

By partnering with Deeptech Labs and supporting the Net Zero Lab initiatives, Sunway aims to create an empowering ecosystem that propels startups to drive sustainable progress, contributing to a net-zero future for the betterment of society.

Established in 1974, Sunway Group has 13 business divisions across more than 50 locations worldwide.

Its 16,000-strong team is committed to sustainable development and socio-economic progress through its diverse businesses including core interests in real estate, construction, retail, hospitality, leisure, healthcare, education, trading and manufacturing, building materials and real estate investment irust (REIT).

Launched in 2017, Sunway iLabs is the innovation arm of Sunway Group and Sunway University, aims to foster entrepreneurship and stimulate market-driven innovations, to help entrepreneurs become more competitive in this rapidly changing environment.

The firm is well connected with the wider start-up ecosystem in Malaysia and abroad through collaborators and strategic partnerships, to enable entrepreneurs to scale their business faster.

Deeptech Labs is a start-up accelerator and VC fund that works to catalyse deeptech success.

Twice a year, its cohort of start-ups are embedded in a powerful network of successful entrepreneurs, expert practitioners, leading researchers, and deeptech organizations worldwide.

Deeptech Labs is founded by ARM, Cambridge Innovation Capital, Martlet Capital, Ewan Kirk and the University of Cambridge – forefront institutions and individuals at the heart of the Cambridge and global technology ecosystems.

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