UOB FinLab has announced the launch of the GreenTech Accelerator 2024, a transformative six-month regional program designed to accelerate the growth of innovative greentechs. Launched on June 27, 2024, this initiative aims to address pressing sustainability challenges, fostering partnerships and creating pilot projects. The program will conclude in November 2024 with a showcase day at the prestigious Singapore Fintech Festival.
Out of over 350 applicants, 34 pioneering greentechs have been shortlisted, including 10 from Malaysia. These selected companies will participate in a rigorous program designed to fast-track the development of sustainable technology solutions.
About the GreenTech Accelerator
Helmed by UOB’s innovation accelerator, UOB FinLab, the GreenTech Accelerator is a testament to UOB’s commitment to sustainability across ASEAN. The program provides unparalleled access to masterclasses, mentoring from over 30 world-class experts across three countries, and UOB FinLab’s expansive network of 25,000 industry leaders, including businesses, governments, SMEs, and tech suppliers.
This year’s program also offers up to SGD100,000 for greentechs to pilot impactful and deployable solutions. Throughout the six months, participants will address real-world sustainability issues from more than 50 challenge statements contributed by 27 partners, including UOB and external collaborators such as Encompass and Great Cosmo Industries.
Building on the success of its inaugural run in 2022, which led to the establishment of eight pilots and over 160 business connections, the 2024 edition expands its reach to Malaysia and Thailand, aiming to make a significant impact on sustainability.
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Challenge Statements
UOB FinLab has collaborated with corporate partners to identify key sustainability challenges. Selected greentechs will work on developing innovative solutions to tackle these issues in areas such as Circular Economy and Waste Management, Energy Efficiency, Food and Agriculture, Sustainable Cities and Urban Planning, and Carbon Management and Reporting.
Meet the Shortlisted Greentechs
The 34 greentechs participating this year span Singapore, Malaysia, and Thailand, categorized based on the challenge statements they address. Here are some of the Malaysian greentechs:
- Bina-Biox Biomaterials: Provides mycelium-based packaging as an eco-friendly alternative to polystyrene, reducing reliance on fossil fuels and minimizing waste.
- Entomal Biotech: Offers sustainable waste management solutions using black soldier flies to convert organic waste into high-protein feed and fertilizers.
- Intllife: Develops smart home software to enhance energy efficiency and reduce management costs.
- iVis Technologies: Identifies wastages and inefficient equipment usage through a proprietary cloud-based energy management platform.
- Letrik Link Sdn Bhd / CUCUK: Promotes the adoption of EVs and transforms heritage sites into EV charging locations to reduce noise and air pollution in Malaysia.
- Materials In Works: Upcycles paper liner waste from the label industry to combat climate change.
- MEC Clearwaste: Converts waste streams into reusable and recyclable by-products.
- Qarbotech: Produces photosynthesis enhancers and innovative solutions for food security challenges and climate change.
- Retragreen: Provides services for energy data collection, management, and certification.
- Wimera Systems Sdn Bhd: Offers technology and consulting for businesses to optimize electricity consumption.
For more information about the program, challenge statements, and past participants, visit UOB FinLab’s website.
