KUALA LUMPUR: Solarvest Holdings Bhd has hosted the final stage (accelerator funding pitch) of its inaugural start-up programme, Solarvest Innovation Lab, at Bukit Bintang today.
The clean energy specialist said eight start-ups from sectors such as green technology, financial technology (fintech), and renewable energy participated in the accelerator funding pitch.
"Three of the companies involved were winners from the seed funding round held in late 2021, while the remaining five qualified directly," it said.
Executive director and group chief executive officer Davis Chong Chun Shiong said the innovation lab programme keeps the company in pace with industry leaders and is also in sync with its larger narrative to transform Solarvest into a clean energy specialist.
Chong said the company is encouraged by the innovative ideas presented by the eight participants as they contain great potential for implementation.
"With further mentorship and guidance from our team, we are confident they will reach marketability soon.
"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," he said.
The shortlisted companies are expected to be announced by the end of July 2022.
They stand a chance to receive a minimum equity investment of RM100,000 each and other perks such as business coaching, physical workspace, and more.
Beyond the initial funding and perks, Solarvest can 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.