KUALA LUMPUR, July 15 – NEXEA, a leading startup accelerator in Malaysia, is taking a significant step towards fostering innovation and growth in the startup ecosystem through a groundbreaking partnership with Allianz General Insurance Company (Malaysia) Berhad (Allianz General), Exitra, Spritzer, and several other prominent corporates. This partnership aims to establish a Startup-Corporate Matching Programme that connects promising startups with established corporations and innovative tech companies, creating potential collaborations and partnership opportunities.
The strategic alliance between NEXEA and Allianz General combines their expertise and resources, creating an environment that nurtures groundbreaking innovations and fuels the growth of the startup ecosystem in Malaysia and beyond. Additionally, NEXEA’s collaboration with Exitra paves the way for transformative advancements in the startup landscape, leveraging their collective expertise to shape a vibrant entrepreneurial ecosystem. These partnerships not only unleash individual strengths but also unlock countless opportunities for innovation, growth, and remarkable success in the dynamic landscape of startups.
The Startup-Corporate Matching Programme, a unique initiative by NEXEA, utilizes their expertise and network in the startup ecosystem to identify and match startups with corporates for new markets, partnerships, joint ventures, investments, and acquisitions. Joining this program offers numerous benefits for startups, including the opportunity to secure corporate clients, establish relationships with potential future acquirers, enhance their ability to work effectively with corporates, and potentially receive investments or form strategic partnerships.
Sean, the Chief Executive Officer of Allianz General, expressed the company’s commitment to innovation and growth, highlighting the NEXEA program as an excellent opportunity to explore new partnership possibilities. The focus for this year is on identifying startups with sustainable business models that align with Allianz’s goals and can help expand into new markets. The partnership between Allianz General and NEXEA has already seen three successful years of excitement, growth, and mutual success, with expectations for continued impact leading into the future.
The Startup-Corporate Matching Programme matches thirty startups with ten corporates each year, resulting in an average of five successful matchings. The six-month timeline ensures a focused and efficient collaboration process. The program has had a significant impact on the success of startups from previous cohorts, with startups raising an impressive amount of RM4,500,000 in funding. Kevin Teoh, COO of Exitra, a subsidiary of LGB Group, expressed excitement about collaborating with startups, highlighting the fresh perspectives, innovative ideas, and agility they bring to the table.
This collaboration allows Exitra to continually improve its services and stay ahead of the curve, benefiting both their staff and customers. The program welcomes startups from various sectors and stages, as long as they have a Minimum Viable Product (MVP) and a clear value proposition for the corporates. Selected startups will participate in workshops, mentoring sessions, pitching sessions, and networking events with corporates and other stakeholders. Ben Lim, Managing Partner of NEXEA, emphasized the value that leading corporates recognize in partnering with startups to drive innovation and new ways of doing business.
By collaborating with startups, corporates gain access to fresh perspectives, cutting-edge technologies, and novel business models that can help create new revenue streams and better serve customers. The program is now accepting applications from startups in sectors such as FinTech, Insurtech, blockchain, e-commerce, property, FMCG, logistics, environment, waste & water management, and hospitality.
With access to over 80 corporates in these industries seeking innovative solutions and collaborations with startups, the program offers a unique platform for growth and success in the startup ecosystem.
