Cyberview Living Lab Accelerator hits 10th anniversary with 6 startups awarded total US$241k at Cohort 19’s Demo Day

• Shieldbase AI and Midwest Composites awarded additional sum
• Since inception startups have raised US$58m investments with US$185m revenue

“Malaysia has made great strides in establishing itself as a hub for innovation and entrepreneurship, and programs like the Cyberview Living Lab Accelerator (CLLA), are instrumental in achieving this mission,” said Chang Lih Kang, minister of Science, Technology and Innovation (MOSTI) at the accelerator’s cohort 19 Demo Day in Cyberjaya, yesterday. The 19th Demo Day also marked the accelerator’s 10th anniversary.

“Since its inception in 2014, the accelerator has been instrumental in empowering over 129 startups, securing more than US$58.40 million (RM263 million) in investments and generating an impressive US$185.88 million (RM837 million) in revenue,” he said.

Remaining steadfast

Regardless, he also said, “we remain steadfast in the commitment to creating an environment that nurtures innovation and entrepreneurship through initiatives such as the Malaysian Startup Ecosystem Roadmap (SUPER) 2021-2030 and the My Startup Platform, aiming to empower startups, facilitate collaboration and drive commercialization of innovation solutions.” 

The minister also emphasized the importance of Cyberjaya as Malaysia’s global tech hub and sandbox that plays a critical role in this mission.

“It is not just a physical location, but a living, breathing ecosystem where ideas flourish, partnerships are forged, and solutions are scaled. The Cyberview Living Lab initiative exemplifies this vision by bridging the gap between innovation and impact across all the balance sheets,” Chang said.

Cohort 19

Romli Ishak (pic), chairman of Cyberview, in his remarks, said, “Over the past decade, this program has gone on to become one of Malaysia’s longest running accelerators, serving as a launchpad for local tech startups to bring their ideas to life and accelerate their journey towards commercialization.”

For Cohort 19, around 90 startups had applied for the program with 24 chosen. They were then given access to resources and workshops as part of CLLA 19.

After a five-month incremental support and process, 10 startups were chosen for the demo day:

• Midwest Composites
• Pixelence
• Shieldbase AI
• IOXTECH Global
• Reyhut
• Wiser Machines
• Airlytic
• ALT Synergy
• Vee Smart Home
• Vidanex

Out of the top ten, six obtained a total investment sum of US$241,181 (RM1.085 million):

• Midwest Composites (RM240,000)
• Shieldbase AI (RM225,000)
• IOXTECH Global (RM100,000)
• Reyhut (RM320,000)
• Wiser Machines (RM100,000)
• Airlytic (RM100,000)

Shieldbase AI received additional recognition as both judges and crowd favourite, receiving an additional RM5,000 and RM,3000 respectively.

Midwest Composites was awarded an additional RM3,000 for being a partner’s favourite by Leave a Nest Malaysia, a unit of Leave a Nest, a leading Japanese startup ecosystem partner.

Muhammad Adrian Wong, who was a part of CLLA’s first cohort back in 2014 and attended the 19 Cohort Demo Day, said, “The event was awesome, the quality of startups that had pitched are more matured now in the sense that the founders, CEOs, and CTOs are very experienced, their products are very matured.”

Besides seasoned leadership teams, he also noted that the startups have received market recognition in the form of winning competitions and receiving grants. “These startups have also won numerous competitions and grants prior as well,” Adrian said.