Session Summary
Razlan Dhamir Hamdan
Co-Founder and CEO, Aphelia
Aphelia’s technology in advancing lunar exploration positions Malaysia as a key player in the global space industry, turning the impossible into possible.
Humanity is venturing to the Moon, focusing on the South Pole for its life-sustaining ice water reserves. However, the reserves are located within shadowed regions, which challenges access to electricity. This prompted Aphelia to develop technology that connects sunlit areas to the dark side, enabling helium-3 mining (a resource vital for fusion energy). Countries like China and companies such as AstroLab, Solysys Mining, and Spacenium are already using Aphelia’s innovations to extract resources and build energy hubs on the moon.
Aphelia’s journey in the space power sector began with the development of wireless charging technology for smartphones. After facing typical startup challenges, Aphelia shifted its focus to create a wireless charging station for satellites using advanced radio frequency technology. This led them to a breakthrough design of their own high-frequency semiconductor chips, granting them victory at the Startup World Cup. Their success opened doors to industry connections in San Francisco and Los Angeles, and positioned Aphelia as a key player in the space ecosystem.
Malaysia is a hidden gem in the space industry, strategically positioned near the equator, making it ideal for rocket launches. The country has the potential to develop a comprehensive space ecosystem, from semiconductor manufacturing to space technology. This promising industry offers significant economic and cultural benefits. As the saying goes, “The sky is not the limit; it is will.”
Dr Michel Laberge
Founder and Chief Science Officer, General Fusion
General Fusion strives to commercialize fusion energy, bringing it to the grid to power the world and reduce reliance on fossil fuels.
The inertia to shift from fossil fuels to renewable energy is immense. Historically, humans only stopped polluting when the consequences of their actions outweighed the cost of cleanup. Increasing the share of solar and wind energy in the energy mix is expensive, which is why reliance on fossil fuels continues.
Fusion energy presents an attractive alternative to wind and solar. Energy is released when two smaller nuclei combine into a larger nucleus, but this requires extremely high temperatures—around 100 million degrees Celsius—which is both technically and financially challenging.
Achieving wider-scale fusion remains financially challenging, with commercialization requiring $50 billion, only 4% of annual fossil fuel subsidies. With a mission to offer a scalable and sustainable energy solution for global needs, General Fusion is advancing Magnetized Target Fusion (MTF) technology to deliver zero-carbon power to the grid by the early 2030s.
Cack Wilhelm
General Partner, Institutional Venture Partners (IVP)
Understanding the ‘why’ behind investments is key to IVP’s competitive edge and ability to drive innovation across industries.
AI and Large Language Models (LLMs) are game changers. The success of companies like Perplexity and Abridge highlights the transformative impact of LLMs across sectors. As LLM models evolve, they are shifting from merely generating text to performing actions, marking a transition towards more dynamic AI applications that could significantly impact industries like healthcare and beyond.
Investment in emerging technologies is key. Companies such as Glossier, CrowdStrike, Coinbase, and Datadog demonstrate the strategy of investing in startups that align with technological trends. By identifying key technological shifts—from web and mobile to cloud computing and AI—IVP showcases the value of recognizing and supporting transformative innovations early to gain competitive edge as investors.
A people-centric philosophy is critical for business success. Traits like being observant, risk-taking, and mission-driven show that business success ultimately hinges on people. As a result, investing in talent and fostering a culture of innovation ensures long-term growth and competitive advantage.
Rahayu Ramli
Head, Cyber Strategy and Architecture, PETRONAS
To achieve successful digital transformations, we must prioritize people’s motivations and needs over the technological innovations themselves.
People are often the biggest obstacle when an organization seeks to evolve. Regardless of location, job, or industry, employees tend to resist change, especially when it is not their choice, making organizational transformation particularly challenging.
Change management is needed to overcome these challenges. Effective change occurs when people are placed at the center of the organization’s strategies. Three key actions for organizations are: 1) involving leaders in change initiatives, 2) fostering knowledge-sharing within the internal community, and 3) maintaining consistent engagement with stakeholders.
While technology is important, user demands and preferences matter more. The actual adoption of technological products and services only occurs when people are motivated to use them continuously. Without addressing cultural mindsets, technological innovations and integrations become futile.