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SIXTEEN local start-ups received US$1mil (RM4.1mil) under the state government’s Penang i4.0 Seed Fund to create awareness and increase participation in the Industry 4.0 revolution and digital economy.

Chief Minister Chow Kon Yeow said the i4.0 Seed Fund gave funding for qualified high potential early stage technology start-ups.

“We hope that this fund can enhance the growth of Penang’s tech ecosystem,” he said in his opening speech at @CAT in Wisma Yeap Chor Ee recently.

Also present were Pengkalan Kota assemblyman Daniel Gooi, Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar, investPenang chief executive officer Datuk Loo Lee Lian and @CAT Penang programme director Howie Chang.

The companies that received the seed fund are involved in a wide range of business activities that include e-commerce and inventory systems, membership platform, tech design, job matching, back end support services, drive-thru services, monetisation assistance for gamers and combinations of IoT, sensors and tracking systems.

Among those who received the seed money was Walnut Wellness (by LeadinHealth Sdn Bhd), a health technology and wellness consultancy company providing a digital solution to corporate companies to improve the well-being of its employees.

Companies that subscribe to ‘Walnut Wellness’ mobile app are able to reach out to their employees in a cost-effective manner for sustainable wellness learning and coaching.

Its chief executive officer Khor Xin Yun said employers would get comprehensive reports while the employees benefitted from the in-depth performance analysis.

“Our in-app features aim to help users improve their well-being through E-consultation. They can also reach out to our experts via the app on personal wellness issues.”

Smartphone users can now get the ‘Walnut Wellness’ app which also features exclusive rebates at partner merchants and pharmacies with the ‘GETHEALTHY’ promo code.

Source: https://www.thestar.com.my/metro/metro-news/2018/08/28/boost-for-tech-startups-sixteen-new-businesses-get-rm41mil-from-states-seed-fund/
The Star
Photo Credit: The Star