Smart city enabler Cyberview holds accelerator for Fintech startups

Forming a living lab for Fintech services in Cyberjaya, Malaysia.

By AvantiKumar
Nov. 11, 2016

fintech_1 (computerworld australia)

Image (Computerworld) - Fintech


Smart city tech enabler Cyberview has held another accelerator programme to draw Fintech startups into Cyberjaya, Malaysia.

Cyberview collaborated with Finnext Capital for this programme, which will also see participating Fintech startups being able to work out of Cyberview's collaborative space, CoInnov8, also was launched at the same time.

"Startups, which are part of the fourth Cyberview Living Lab Accelerator Programme will  be provided with the necessary exposure, guidance, and resources through our collaboration with Finnext Capital as well as through the platform we've created through the setup of the CIC," said  Dato' Faris Yahaya, adding that such programmes tapped increasing interest in the Financial Technology (Fintech) space.

This latest edition of the programme focused on startups from enterprises already at the tipping point of commercialising their innovations. The five shortlisted startups are Fintech players Billplz, CurrenSeek, Otomate Me, and PrimeKeeper as well as an IoT (internet of things) solutions-provider Future Integrated Networks.

 Faris said the startups will not only be the first to work out of the CoInnov8 space, but would also have access to the recently established City Innovation Council (CIC).

Fintech ecosystem

He said CIC is body led by Cyberview, which includes national Malaysia Digital Economy Corporation (MDEC), Malaysian Global Innovation & Creativity Centre (MaGIC), national regulator Malaysian Communications and Multimedia Commission (MCMC), Setia Haruman, and Sepang Municipal Council.

"The setting up of CIC is to guide the smooth implementation of Cyberjaya Smart City Projects, identify emerging challenges and strategic opportunity for the city, and put in place the drivers and enablers that will provide the opportunities for technology advancement in Cyberjaya," added Faris.
In addition, Cyberview's CoInnov8 has been formed to "provide the most conducive environment for innovation to thrive. It will provide a collaborative space for technopreneurs to converge and share ideas; a platform for startups to pilot and validate their innovations; and offers abundant collaborative partnership opportunities towards the commercialisation of these startups."

To help equip the participants with sufficient guidance and resources, Cyberview asked consulting firm Finnext Capital to provide professional advisory to both corporations and startups.

Jason Lee of Finnext Capital said what differentiates Cyberview's Living Lab Accelerator Programme "are the built-in opportunities for startups to pilot and validate their innovations prior to the commercialisation stage, reaching far beyond capital seeding and marketing."
 "This is important to ignite innovation and development so that we can make way for the start-ups to be tech enablers themselves in Cyberjaya," said Lee.

The total value of resources, facilities, and other assistance that Cyberview would be providing to each of the shortlisted startups in this accelerator programme is valued at about RM50,000 (US$11,764).