4 min read

Daily Markup #274: 500 Startups & Petronas launch accelerator program for deeptech; GrabSupermarket to offer over 10,000 products in Singapore with next-day delivery; mClinica awarded Technology Pioneer by World Economic Forum

500 Southeast Asia Team



Credit: 500 Startups

A boost up

  • 500 Startups has partnered with oil and gas company Petronas to launch the Petronas FutureTech 2.0 Accelerator, a 12-week online program for Malaysian deeptech startups.
  • This program is aimed at encouraging local innovations and scaling up homegrown tech startups. 20 will be selected to learn from industry experts and Petronas Business Unit leaders to reach their next level of growth.
  • The program includes masterclasses, workshops, and coaching from 500 Startups’ mentors and experts from Petronas, Telekom Malaysia, and Sime Darby Plantation.
  • Interested participants must be committed for the entire duration of the program, from 30 August 2021 to 19 November 2021.
  • Applications close 27 July 2021. Register here.
Credit: Vulcan Post

Fresh off the basket

  • 500-backed super app Grab has launched GrabSupermarket in Singapore. This is part of its strategic expansion of GrabMart, its on-demand everyday goods delivery service.
  • The startup has partnered HAO, a supermarket chain in Singapore, to offer consumers next-day delivery. For a start, it will house over 5,000 unique products from HAO. This will be expanded to over 10,000 unique products over the next few weeks.
  • In addition, Grab will bring products from highly sought-after stores on GrabMart to GrabSupermarket. This will offer consumers more variety, and also provide current GrabMart merchants more channels to reach consumers.
  • Read the full article on Yahoo! Style here.
Credit: Farouk Meralli / Twitter

Spearheading startups

  • 500-backed digital health startup mClinica has been selected as one of the World Economic Forum’s ‘Technology Pioneers’. This year’s cohort includes representation from 26 economies on six continents.
  • The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world involved in the use of new technologies and innovation that are poised to have a significant impact on business and society.
  • CEO and Founder Farouk Meralli of mClinica will be invited to participate in World Economic Forum activities, events, and discussions throughout the year.
  • The startup will also contribute to Forum initiatives over the next two years, working with global leaders to help address key industry and societal issues.
  • Read the full announcement from mClinica here.

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500 Startups is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. In Southeast Asia, 500 Startups invests through the pioneering 500 Southeast Asia family of funds. The 500 Southeast Asia funds have backed over 240 companies across multiple sectors from internet to consumer to deep technology. It continues to connect founders with capital, expertise and powerful regional and global networks to help them succeed.

This post is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed.

500 Southeast Asia Team