Carsome and Sunway iLabs to launch Malaysia’s first auto ecosystem accelerator
Malaysian unicorn Carsome will be launching the country’s first auto ecosystem accelerator with Sunway Innovation Labs (iLabs). The auto ecosystem accelerator program called Carsome Mobility Lab is expected to be launched in the third quarter of 2022.
Despite Malaysia being home to several startup accelerator programs, what makes the Carsome Mobility Lab different is that it will be the first auto ecosystem-focused accelerator in Malaysia looking to support global tech startups to deliver sustainable solutions in Carsome’s existing markets.
In fact, Malaysia has about five government startup accelerator programs. The private sector has about nine accelerator programs while there are about four corporate startup accelerators as well with Sunway iLabs Incubator and Accelerator being one of them.
To be more specific, the Carsome Mobility Lab program will provide a holistic platform for startups in the auto ecosystem to scale by providing mentorship, opportunities for funding, and access to partnership opportunities through Sunway and Carsome’s network of entrepreneurs, venture capitalists, corporates and industry experts.
Just as in any other startup accelerator program, selected startups will be offered the unique opportunity to connect with businesses. In this case, the selected startups can connect with Sunway’s 13 business divisions and Sunway City Kuala Lumpur’s thriving ecosystem as well as the Group’s extensive funding funnel and ecosystem.
According to Eric Cheng, co-founder and Chief Executive Officer of Carsome, the partnership with Sunway iLabs is the first-of-its-kind accelerator in the Southeast Asian region to identify, partner, and scale innovative start-ups.
“It is an honor for us to be supporting and boosting the entrepreneur and automotive communities through this unique program. This is another huge step towards Carsome’s vision of creating the most trusted vehicle ownership ecosystem, powered by technology and data,” commented Cheng.
For Matt van Leeuwen, Sunway Group Chief Innovation Officer and Director of Sunway iLabs Matt van Leeuwen said, the partnership with Carsome has grown into a broad-spectrum innovation platform covering R&D, and tech talent development, and now also a startup accelerator program.
“We believe that this first-of-its-kind auto ecosystem accelerator in Malaysia will help elevate startups to the next level by tapping the networks, market, mentors, and funding offered by Carsome and Sunway. This is really a unique opportunity not to be missed by entrepreneurs who are looking to build a successful tech business in the automotive industry,” explained van Leeuwen.
Sunway Group Chief Executive Officer of Digital and Strategic Investment Evan Cheah also pointed out that the Sunway Group has invested over RM 200 million in startups and venture building over the last few years and remains committed to equipping and enabling businesses in developing greater local innovations as part of their commitment to nation-building and advancing the 17 United Nations Sustainable Development Goals.
Meanwhile, Digbijoy Shukla, Carsome Group Head of Merger & Acquisition and Ecosystem Strategy mentioned that the auto ecosystem is ripe for further innovation and disruption. He added that Carsome hopes by teaming up with Sunway to work with startups across Southeast Asia, they can bring cutting-edge innovation that will benefit the entire auto ecosystem and ultimately add value to the vehicle ownership journey of all consumers.
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