Outside United States it is said the largest growth in start-ups is India, its no surprise that the most populated country in Asia is seeing exponential interest in technology and innovation, as it also houses a massive talent pool familiar with the workings of Silicon Valley. This growth has benefited Malaysia as well, NanoMalaysia Berhad will be working with India’s leading technology incubator, 10000StartupsIndia together with Malaysian-based Foodie Box Group to kickstart a nanotechnology commercialisation initiative involving Malaysian start-up and SME partners, that is expected to accelerate and scale-up more than 1,000 India based start-ups, SMEs, and micro SMEs.
This collaboration will expand NanoMalaysia’s intellectual property, products and solutions for sectors such as clean energy, textile, urban farming, healthcare and social enterprise to adapt and deploy nanotechnology in the Indian startups product offerings.
As part of the agreement, NMB will develop customised business models to match relevant solutions from Malaysia’s nanotechnology start-ups and SMEs to adapt to India’s unique technology ecosystem and participate in the incubation process for their start-ups, SMEs and micro SMEs. This approach intends to accelerate the growth of NMB’s early and growth stage high-tech enterprises.
10000StartupsIndia is India’s biggest community platform funded by Silicon Valley investors. Their goal is to hand-hold and accelerate start-ups; small and medium companies particularly belonging to manufacturing and services sectors; and homegrown businesses founded by women entrepreneurs originating from smaller cities in India.
Foodie Box Group is a tech start-up that focuses on food, technology and social enterprise. It recently received the award for Most Innovative Food Packaging Manufacturer in Malaysia from the Asia-Pacific Business Awards 2020.
To participate in this nanotechnology transfer initiative, Indian start-ups, SMEs, and micro SMEs will be shortlisted based on the following criteria:
- The start-up, SME, or micro SME must possess market access relevant to the sought-after technologies
- They must have a team with technical competencies to scale the tech up
- Sufficient funds to support (1) and (2)
- Willing to partner with Malaysian entities
NanoMalaysia Berhad Chief Executive Officer, Dr Rezal Khairi Ahmad said: “We are excited to be partnering with India, one of the world’s fastest growing economies, and to be given this opportunity to value build their start-ups, SMEs and micro SMEs.
In 2020, India saw a staggering growth in the number of start-up hubs in comparison to that of 2015. In a matter of 5 years, the number of start-ups in every sector has seen a rise of 40 – 45 per cent. Malaysia as well has seen an encouraging growth in its SME and start-ups in the sphere of nanotechnology in the period of 2016 to 2020 with close to 100 early and growth stage companies participating in NanoMalaysia’s commercialisation and certification programme.
10000StartupsIndia Chief Executive Officer, Leenesh Singh said: “The use of nanotechnology and its potential in upscaling diverse sectors in India remains largely untapped. There is a huge demand for new technologies to disrupt the more traditional businesses such as the textile industry – where application of nanotechnology can be used to develop new materials or innovate production methods.
For NanoMalaysia, this will be a starting point and it would look at other markets such as Bangladesh and the Middle Eastern region for similar partnerships.