Next Accelerator launched as the first FinTech and IoT focused accelerator in Malaysia in partnership with the Cyberview

Announcements to reflect the launch of accelerator

KUALA LUMPUR –  Finnext Capital, an innovation ecosystem enabler announced a partnership with Cyberview, to develop Finnext Accelerator, which is a collaborative effort between government, corporates, entrepreneurs and venture capitalists to accelerate and nurture Fintech and IoT focused tech startups. Selected startups will work closely with the ecosystem players and leverage on technology and resources to implement their services at Cyberjaya which is poised as the leading Smart City in this nation.

Finnext Accelerator will host batches of up to ten (10) teams over ten months in Cyberjaya, Malaysia to prepare startups to be accelerated and investment ready by providing high-quality mentorship and support in leveraging their regional network of investors, mentors, and entrepreneurs.  It is a network-driven accelerator for startups that aims at transforming the conventional approach to the technology industry (Fintech and IoT) by embracing digital advancement and with a scalable business model. Finnext Accelerator aims to attract and support the growth of the highest quality FinTech and IoT startups in Malaysia, from the full spectrum of the FinTech and IoT landscape.

The majority of the management team at Finnext Accelerator are deeply involved in Malaysia’s financial sector and are leaders of a global FinTech community, Next Money. Through the local city chapter, Next Money Kuala Lumpur, the team has hosted multiple meetups, conference, and events and have established successful collaborations with regulators, government agencies, investors and FinTech firms. The remaining team comes from the Startup ecosystem with the experience of running an accelerator to investing in tech companies.

FinTech and IoT

FinTech and IoT are the results of the 4th Industrial Revolution and they are the catalysts to propel the development of the world-class smart city which will benefit people from all walks of life i.e. unbanked and underinsured segment, small-medium businesses, entrepreneurs and corporates.  

According to Klaus Schwab, the Founder and Executive Chairman of World Economic Forum, we stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. In its scale, scope, and complexity, the transformation will be unlike anything humankind has experienced before. We do not yet know just how it will unfold, but one thing is clear: the response to it must be integrated and comprehensive, involving all stakeholders of the global polity, from the public and private sectors to academia and civil society.

The possibilities of billions of people connected by mobile devices, with unprecedented processing power, storage capacity, and access to knowledge, are unlimited.

Smart Cities definition

A smart city is defined as an urban development vision to integrate multiple ICT solutions in a secured manner to manage a city’s assets which include local departments information systems, schools, libraries, transportation systems, hospitals, power plants, water supply networks, waste management, law enforcement, and other community services. The goal of building a smart city is to improve the quality of life by using technology to improve the efficiency of services and meet residents’ needs.

Finnext Accelerator believes that it can play an important role in propagating technology via the advancement of tech startups and development of a sustaining tech community in assisting Cyberview to achieve its smart city vision in Cyberjaya. We believe ICT will allow city officials to interact directly with the community and the city infrastructure and to monitor what is happening in the city, how the city is evolving, and how to enable a better quality of life.

Building a Smart City through FinTech and IoT

The accelerator programme will focus on a few key areas:

  1. Provide an effective platform for FinTech and IoT startups to use Cyberjaya as a testbed for their innovation solutions and enable Cyberjaya to be a leading Smart City in this region
  2. Provide innovative ways for the Smart City citizens in Cyberjaya to interact with money and infrastructure in effective and efficient ways within the connected ICT network. Imagine having payments, transfers, lending done at the tip of your fingertips via connected devices
  3. Provide a gateway to spearhead the nation’s agenda of having connected homes which indirectly connects Cyberjaya and Malaysia at large to the world seamlessly by having an “always connected” society by leveraging on the FinTech and IoT solutions
  4. Work towards capitalising on FinTech solutions to enable a more inclusive financial community and to support the unbanked and underserved community in Malaysia and beyond
  5. Strengthen and support the securitization of data within Cyberjaya which will promote trade through ICT advancement
  6. Propel Cyberjaya as the Global Tech Hub within the ASEAN region and beyond

Finnext Accelerator will run as part of Cyberview’s Living Lab initiative to promote an open innovation ecosystem and provide a platform to elevate Malaysia’s vibrant entrepreneurship to the next level. Living Lab via Finnext Accelerator can be go-to platform to harness innovation via startups and enterprises focusing on FinTech and IoT to be tested and validated in Cyberjaya before launching into the real world.

----------------------------------------------------------------------------------------------------------------
 

About Finnext Accelerator

Finnext Accelerator is the signature program of Finnext Capital. It is a collaborative effort between government, corporates, entrepreneurs and VCs to accelerate and nurture FinTech and IoT focused tech startups. It is a network-driven enabler for startups that aim at transforming the conventional approach to the technology industry (FinTech and IoT) by embracing digital advancement with a scalable business model. Next Accelerator is an accelerator supported by Cyberview’s Living Lab initiative as to collaboratively promote an open innovation ecosystem to elevate Malaysia’s vibrant entrepreneurship to the next level and to propel Cyberjaya in achieving its vision of becoming the leading Global Tech Hub and recognized as a premier smart city in this region.

Finnext Accelerator will be hosting two (2) batches of up to ten (10) teams over ten months in Cyberjaya, Malaysia. We prepare startups to be accelerated and investment ready by providing high-quality mentorship and support in leveraging our regional network of investors, mentors and entrepreneurs.

More information is available at http://www.finnextcapital.com/

About Finnext Capital

Finnext Capital is an innovation enabler consulting firm which develops a vibrant innovation ecosystem by investing in people and ideas through strategic partnerships. Finnext Capital provides professional advisory service to corporations and startups related to innovation, assists in capital funding and provides resources, connections & networks in the region.

It has a platform, Finnext Accelerator, for budding startups and entrepreneurs to accelerate their growth, a space to learn, build and grow via collaborations with our partners across the region.

More information is available at www.finnextcapital.com

About Cyberview

Cyberview is a government-owned company responsible to spearhead the development of Cyberjaya by undertaking commercial and socio-economic activities via two key pillars to support these initiatives: Smart City and Living Lab.

Smart City aims to improve urban living and lifestyle, promote greater sustainability for the city and encourage overall growth of economic activities through the mass adoption of intelligent technologies. The Living Lab initiative is where we offer the city as an innovation platform in areas such as talent, start-ups, pilots and enterprises allowing new technologies to be tested and validated in Cyberjaya before launching into the real world.

More information is available at www.cyberview.com.my

 

– End –

Finnext Capital Contact:

Wilson Beh
Programme Lead
finnextcapital@gmail.com
Tel: +6012 550 7582

Lee Yen Ming
Programme Lead
Tel: +6017 200 0164

Jason Lee
Partnerships Lead
Tel: +6018 3944 391