20 February 2024, George Town – Digital Penang, a Government-Linked Company (GLC) established by the Penang State Government, proudly announces a collaborative partnership with Malaysian Business Angel Network (MBAN) Penang Chapter, Project Technology, Collaborative Microelectronic Design Excellence Center (CEDEC), and MYStartup to launch the HardTech Inculerator Program 2024 (HIP24). This innnovative initiative introduces a distinctive “Inculerator” approach which is a hybrid model seamlessly integrating the strengths of both an Incubator and Accelerator.
Aligns with the “MyDigital” initiative led by the Malaysian Communications and Multimedia Commission (MCMC), HIP24 contributes to developing industry cluster and driving entrepreneurial activity. Importantly, it is in line with the National Entrepreneurship Policy (NEP) 2030 in accelerating economic growth through innovation-driven enterprises. HIP24 is poised to bridge the gap between hardware-based technology and deeptech development and commercialisation, thereby enhancing the digital economy in Penang.
HIP24: Elevating HardTech and DeepTech Startups
HIP24 is a comprehensive 9-month programme designed to provide a structured path for HardTech and DeepTech startups in commercialising their prototypes. The Inculerator approach, a mix of incubator and accelerator, provides tailored support to foster a nurturing environment for hardware-based and deeptech ventures and facilitate accelerated growth towards commercialisation of their solutions and products. Targeting sectors such as Healthcare, Food Security, Manufacturing, Consumers, and Energy & Sustainable Development Goals (SDG) solutions, HIP24 sharpens participants’ market readiness skills through curated 1-on-1 venture mentoring with experts and market validation. The programme culminates in the strategic deployment of their products and solutions, offering a transformative experience for startups in these critical sectors.
Enterprising scientists, engineers and developers participating in HIP24 will have the opportunity to pitch their startups to investors, further amplifying their potential for growth and success.
Calling for Applications
The application window for HIP24 is now open and interested technology companies and startups are encouraged to apply before the deadline on 15th March 2024. For more detailed information and to submit application, please visit https://digitalpenang.my/hardtech-inculerator-program.
