The Ministry of Finance (MOF) in collaboration with the Ministry of Science, Technology and Innovation (MOSTI) and Cradle Fund Sdn Bhd (Cradle), have announced the successful selection of eight government-linked companies (GLCs) under the Bengkel Inovasi GLC (BIG) program, to accelerate corporate-startup collaboration and innovation-led growth in Malaysia.

Cradle said in a statement on Friday that this milestone marks the next transition from design to execution for the program which was launched in March 2025.

A matching grant of up to MYR 2 million ($470,000) was awarded per GLC, totalling MYR 10.7 million ($2.53 million).

The selected GLCs and their innovative projects are:
• Bank Islam – Leveraging artificial intelligence (AI) and behavioral tech to enhance micro, small, and medium enterprises (MSME) financing and financial literacy via a digital finance platform.
• CelcomDigi – Powering next-gen logistics with 5G, AI and robotics for a resilient digital economy.
• EDOTCO – Creating a self-service analytics marketplace and maximizing telco infrastructure utilization.
• Malaysia Aviation Group – Leveraging AI for real-time asset tracking to optimize turnaround ops and enhance passenger experience.
• Sime Darby Property – Effective enforcement of safety practices through AI driven real-time detection and multilingual alerts.
• S P Setia – Empowering every Malaysian to own a home by enabling seamless access to affordable, high-quality housing through technology.
• Tenaga Nasional Berhad – Repurposing electric vehicle (EV) batteries for energy storage and building scam-resistant digital platforms to protect and educate customers.
• Cenviro – Producing sustainable pavers with advanced technology to reduce environmental and landfill impact.

According to the statement, these GLCs were selected for their innovative technology applications, particularly in digital and AI — showcasing clear potential to improve operational efficiency, support business growth and scale across their respective industries.

Additionally, each also demonstrated strong partnership models with local and global startups, reinforcing the collaborative spirit of BIG program.

“Cradle is proud to have played a central role in designing and delivering BIG alongside MOF, MOSTI and our ecosystem partners, activating a bold new model of corporate-startup collaboration,” said Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle, the lead delivery partner for BIG program.

“These GLCs are stepping up as national innovation champions — signalling a growing shift in how corporates view innovation: not as a peripheral activity, but as a core driver of resilience and growth,

“We look forward to supporting them as they move into co-creation and pilot stages with startups,” he added.

Chang Lih Kang, Minister of Science, Technology and Innovation (MOSTI), added that BIG reflects how a whole-of-government approach can bridge startups and corporates to accelerate transformative tech adoption.

“MOSTI is proud to support this through National Technology and Innovation Sandbox (NTIS) and our deep tech networks, advancing resilient industries while strengthening our mission under Malaysia Startup Ecosystem Roadmap (SUPER) to position Malaysia among the world’s top 20 startup ecosystems by 2030,” he said.

The statement also highlighted that the participation of these eight GLCs signals a clear commitment to adopt and pilot cutting-edge technologies as a catalyst for broader corporate innovation.

It noted their partnerships with local startups and venture builders also contribute to strengthening the national innovation ecosystem and fostering startup development.

Amir Hamzah, Minister of Finance II, stated that the ministry began this journey by asking how it could better support our GLCs to innovate, experiment with new technologies and partner meaningfully with startups.

He said he has been encouraged by the ideas and the commitment of the GLCs to support new ways of working.

While not every idea may eventually scale, he noted each one contributes to growing culture of experimentation and progress – and today stands as a testament of that shared success.

“The ambition of this program is ultimately to catalyze corporate innovation across our GLCs and tighten linkages between the corporate sector and our fast- growing startup scene,

“If successful, we hope to expand this program to the broader private sector in the future,” he added.

Over the next six months, the selected GLCs will collaborate with in-house innovation teams, startups and venture builders through either the Venture Client Track, the Venture Co-Creation Track, or a combination of both.

Each will develop a proof-of-concept, culminating in a Demo Day that paves the way for real-world deployment and co-created ventures.

#CorporateInnovation #StartupEcosystem #AIinBusiness #PublicPrivatePartnership #DigitalTransformation