Sunway iLabs-Carsome to Launch Malaysia’s First Automotive Ecosystem Accelerator in Q3 2022

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  • Sunway has invested US$47.2 million in startups and construction companies over the past few years
  • Platform for automotive ecosystem startups to scale through mentorship, partnership

Sunway Innovation Labs (iLabs), the innovation arm of Sunway Group, announced a joint partnership with Carsome, Southeast Asia’s largest integrated automotive e-commerce platform, to launch an acceleration program – Carsome Mobility Lab with US$150,000 (RM635,000) available for up to six selected startups. The $25,000 (RM106,000) per startup is similar to the iLabs Super Accelerator program.

Launching in Q3 2022, Carsome Mobility Lab will be Malaysia’s first automotive ecosystem-focused accelerator looking to help global tech startups deliver sustainable solutions in Carsome’s existing markets.

The program will provide a platform for startups in the automotive ecosystem to scale by offering mentorship, funding opportunities and access to partnership opportunities through the network of entrepreneurs, venture capitalists, companies and developers. industry experts from Sunway and Carsome.

Selected startups will be offered the unique opportunity to connect with Sunway’s 13 business divisions and the thriving ecosystem of Sunway City Kuala Lumpur, as well as the group’s vast funding funnel and ecosystem comprising Orbit Malaysia, SunSEA Capital , Gobi Partners and The HIVE SEA for additional funding and investment. Opportunities.

This is in line with Sunway’s vision to position Sunway City Kuala Lumpur as a living laboratory bringing together experts to generate sustainable and real solutions for future urban spaces towards the betterment of our environment and humanity.

Eric Cheng, Co-Founder and CEO of Carsome, said, “We are really excited about this partnership with Sunway iLabs, as it is the first accelerator of its kind in the Southeast Asian region to identify, partner and develop innovative startups. It is an honor for us to support and stimulate the entrepreneur and automotive communities through this unique program.

Matt van Leeuwen, Sunway Group Chief Innovation Officer and Head of Sunway iLabs, said, “We are really excited to see how our partnership with Carsome has evolved into a broad-spectrum innovation platform spanning R&D ( Carsome has partnered with iLabs to launch a data lab in conjunction with Sunway University), tech talent development (Carsome is a key 42KL partner), and now also a startup accelerator program . We believe this first automotive ecosystem accelerator in Malaysia will help take startups to the next level by leveraging the networks, marketplace, mentors and funding offered by Carsome and Sunway. This is truly a once-in-a-lifetime opportunity not to be missed for entrepreneurs looking to build a successful technology business in the automotive industry.

Evan Cheah, Sunway Group CEO for Digital and Strategic Investing, said, “We are delighted to be working with Carsome as they help Malaysia and Southeast Asia grow on the tech scene. Sunway Group has invested more than US$47.24 million (RM200 million) in startups and enterprises. construction over the past few years and we remain committed to equipping and enabling businesses to develop greater local innovation as part of our commitment to nation building and advancing the United Nations’ 17 Sustainable Development Goals.

“The automotive ecosystem is ripe for new innovation and disruption. We look forward to partnering with Sunway to work with startups across Southeast Asia to bring cutting-edge innovation that will benefit everyone.” of the automotive ecosystem and will ultimately add value to the vehicle ownership journey of all consumers,” added Carsome Group Head of Merger & Acquisition and Ecosystem Strategy Digbijoy Shukla.

With operations in Malaysia, Indonesia, Thailand and Singapore, Carsome provides end-to-end solutions to used car consumers and dealers, from car inspection to title transfer and financing, promising to bring confidence, choice and transparency to customers. It currently has over 3,000 employees across its offices.

Startups interested in the Carsome Mobility Lab can complete the expression of interest form at https://sunway.my/CarsomeMobilityLab. You will be contacted when they officially launch in early May.

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