mystartup, malaysia, news, venture capital

MYStartup, a Malaysian government initiative powered by Cradle Fund Sdn Bhd. (Cradle), in partnership with Digital Nasional Berhad (DNB), has on Wednesday announced the winners for the recently concluded MYStartup Hackathon 2022.

This year’s Hackathon saw DNB issuing three problem statements which participants were then tasked to create solutions for, MYStartup said in a statement.

The winning teams are each receiving an MYR10,000 ($2329) cash prize from MYStartup and a chance to present their solutions in more detail to DNB.

Cradle Senior Vice President of Ecosystem Development Ahmad Kashfi Alwi said MYStartup registered an encouraging 111 applicants for the Hackathon with diverse expertise and backgrounds.

“We have the privilege of hearing from some of the brightest minds in the field, who have been working hard to develop cutting-edge solutions using 5G technology to tackle the problem statements of this hackathon,” he said.

The programme which commenced on January 6 came to a close on January 14 after a series of intensive masterclasses, one-on-one mentoring sessions, and boot camp as preparation for finale.

Three winners were selected based on relevant judging criteria and viability of ideas that
could conceivably address DNB’s three problem statements, which are: Spacein Sdn Bhd (floating 5G deployment for a cost-effective 5G service for all palm oil plantations in Malaysia), Carching (developing a dynamic advertising engagement platform), APU Credit (developing a factory of tomorrow with 5G-based artificial intelligence (AI) machine-vision quality inspection tackling the quality assurance [QA] and health, safety, security and environment [HSSE] questions).

“The winners ingenuity and out-of-the-box thinking was crucial in solving the three problem statements
issued by DNB. This is the sort of high quality, homegrown tech talent that we hope will leverage Malaysia’s nationwide 5G network to pioneer new and exciting 5G-enabled solutions,” said DNB Head of Emerging Technologies, Johan Krebbers.

MYStartup Hackathon X DNB is a programme under the MYStartup initiatives in partnership with DNB.

MYStartup Strategy is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI) and powered by Cradle.

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.


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