Agensi Inovasi Malaysia invests US$6.8M in Malaysian startups

Agensi Inovasi Malaysia (AIM), a Malaysian statutory body established by the government in 2010 to stimulate and develop the innovation eco-system in the nation, has announced plans to invest a total of RM21.4M (US$ $6.8M) into three Malaysia-based startups.

These companies are Quantum Electro Opto Systems (QEOS), Sekhar Research Innovations (SRI), and Mecha-Medic Solutions.

The news was first reported by Digital News Asia on 28th June.

AIM’s investment will help build and provide market and industry access for these companies. It is investing RM10.5M (US$3.3M) into QEOS, RM6M (US$1.9M) into SRI, and RM5M (US$1.6M) into Mecha-Medic Solutions. AIM hopes its investment will enable the companies to connect with relevant and specific industry groups as well as reach out to potential clients.

Quantum Electro Opto Systems (QEOS): Founded in 2008 by Malaysian Gabriel Walter, QEOS aims to commercialize transistor laser-based applications, using light-emitting transistors (LET) technology to replace copper wire as the conventional medium for data transmission over short distances. Thus far, it has filed five patents and published four papers.

Sekhar Research Innovations (SRI): Founded in 2004 by the late Tan Sri Dr B.C. Sekhar, SRI is a clean-tech company focusing on recycling tires and waste rubber into devulcanized rubber compound. It is now run by CEO Gopi Sekhar, a Malaysian national.

Mecha-Medic Solutions: Run by Dr Chew Heng Hai, Mecha-Medic Solutions has invented a non-invasive, non-pharmacological device to both treat and prevent hemorrhoids and piles to replace the traditional current method of surgery.