29 November 2024
Alliance Bank BizSmart® Challenge 2024 sees BioLoop as Grand Prize Winner with Gula Cakery taking 2nd Place and ‘Wild Card’ HiiVolt as 3rd Place Winners
Press Release
The Alliance Bank BizSmart® Challenge Accelerator Edition Grand Prize Winner BioLoop Sdn Bhd Mah Jun Kit (second from right), First Runner-Up Gula Cakery Sdn Bhd Nor Arieni Ritzal (right) and Second Runner-Up Volt Motorsports Sdn Bhd Dr Jay Jayabalathilagam (left) are all smiles following the award presentation by Alliance Bank Group Chief Executive Officer Kellee Kam.
A night of triumph and inspiration, shining a spotlight on the future leaders of Malaysia’s business landscape: the top 13 finalists of the Alliance Bank BizSmart® Challenge Accelerator Edition take center stage alongside the esteemed panel of judges, celebrating their journey of resilience, creativity, and entrepreneurial excellence.
Kuala Lumpur, 29 November 2024 - Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”) today announced the conclusion of the BizSmart® Challenge Accelerator Edition (“Challenge”), celebrating and recognising Malaysia’s top emerging enterprises. The Challenge, which has become a landmark platform in Malaysia’s SME ecosystem, awarded a total of RM550,000 in cash prizes to 13 winners. BioLoop, Gula Cakery and Volt Motorsports (“HiiVolt”) distinguished themselves as the top three rising businesses, impressing judges with their outstanding business acumen, innovation, and growth potential, coming ahead of ten other impressive finalists.
BioLoop, a biotechnology firm focused on sustainable waste management, was named Champion, winning a total of RM265,000, which encompasses multiple accolades, such as the Cradle Partner Selection Award and Credit Guarantee Corporation Malaysia (“CGC”) Category Award. The company uses Black Soldier Fly Larvae technology to convert food waste into high-protein animal feed and organic fertilizers. With a mission to address Malaysia's waste challenges and contribute to food security, BioLoop has already processed over 8,000 metric tonnes of food waste since it was founded in 2020.
Gula Cakery, founded by Nor Arieni Ritzal, won second place and the CGC Category Award, bringing home a total of RM105,000 for its dedication to quality and community. What began as a small bakery in Kota Kemuning in 2015 has expanded to over ten locations, serving rustic cakes and offering baking classes, and has grown into a beloved brand with a homegrown story and a welcoming atmosphere that embodies family and tradition.
HiiVolt, Malaysia’s first provider of extended warranties for hybrid vehicle batteries, was a wild card participant from the Elevator Pitch round and they exceeded expectations by claiming third place. In total, HiiVolt received RM65,000, which includes the Cradle Partner Selection Award, CGC Category Award and Investor’s Choice Award by 1337 Ventures. The company’s innovative solutions, such as warranty solutions and eco-friendly battery refurbishing services, further support Malaysia’s growing green automotive industry.
“As we celebrate these dynamic SMEs, we recognise their dedication and the impact they bring to Malaysia’s economy. For over a decade, the BizSmart® Challenge has become a vital platform for nurturing Malaysia’s most promising entrepreneurs and the high standards of this year’s participants are a testament to the entrepreneurial talent in our nation. With the invaluable support of our esteemed partners - CGC, Cradle, 1337 Ventures and 5X Capital - we are committed to providing mentorship, industry insights, resources and opportunities for SMEs to thrive. In our endeavour of becoming The Bank For Life, we remain focused on empowering the next generation of business leaders to make a meaningful impact in their industries and communities,” said Mr. Kellee Kam, Group Chief Executive Officer of Alliance Bank.
The remaining 10 finalists each received RM5,000 as part of the Entrepreneur Recognition Award from Alliance Bank. BioLoop, Fubizo, HiiVolt, Mindhive and Ventamin were each awarded RM10,000 through the Partner Selection Award by Cradle. Additionally, Aenon Solutions, Asia Farms Network, BioLoop, Fubizo, Gula Cakery, HiiVolt, Mindhive, Sin Boon Kee, Ventamin, Xin Seng Fatt, were honoured with the CGC Category Award, valued at RM5,000 each. Mindhive was also named as one of the recipients of the Investor’s Choice Award by 1337 Ventures, highlighting their potential and offering venture capital funding to scale their businesses.
These awards underscore the Challenge’s commitment to fostering a diverse range pool of high-potential SMEs, equipping them with resources and opportunities that fuel growth and drive lasting business impact. By broadening its support, the Challenge enables more SMEs to make meaningful strides in their respective industries, reinforcing Alliance Bank’s dedication to cultivating Malaysia’s next generation of innovative entrepreneurs.
“Promoting the growth and development of competitive and dynamic Malaysian MSMEs is central to CGC’s vision. Through this strategic collaboration, we were privileged to hear from these contestants, who are also business founders, as they shared their strategic plans for expansion and market accessibility. Their strategies clearly outlined intentional efforts to boost productivity, improve operational efficiencies which resulted in higher revenue growth and contributed to their resilience and sustainability. The winners of the Alliance BizSmart Challenge have demonstrated remarkable adaptability and vision, coupled with qualities that are essential in today’s rapidly changing market. CGC is excited to support the journey of these competitive and dynamic Malaysian MSMEs which will have a positive impact to Malaysia's economic growth," said Datuk Mohd Zamree Mohd Ishak, President and Chief Executive Officer of CGC.
"The BizSmart® Challenge perfectly complements Cradle's mission of cultivating a vibrant startup ecosystem in Malaysia. We extend our heartfelt appreciation to Alliance Bank for giving tech startups the opportunity to participate in this impactful programme. I’m thrilled to see the innovative, tech-driven solutions showcased by the participants, putting forth their ambitious visions for transformative change in their industries. At Cradle, we are committed to empowering these entrepreneurs by providing access to crucial resources, mentorship, and growth opportunities. We look forward to further supporting these promising ventures, helping them expand and make a significant, enduring impact on both our economy and society," said Mr. Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle.
“We are constantly inspired by the innovation within Malaysia’s SME sector. This initiative has enabled us to work with some of the country’s most promising entrepreneurs, helping them refine their strategies and expand their market potential. The winners have showcased not only a deep understanding of their industries but also the agility and vision required to thrive in a dynamic business environment. We are eager to see their growth and are committed to supporting them as they scale their business,” said Mr. Bikesh Lakhmichand, Founding Partner and Chief Executive Officer of 1337 Ventures.
“The Challenge has shown us that each SME carries a unique story and purpose, making these businesses more than just enterprises, they are truly human ventures driven by passion and vision. Everyone brought their own story to the table, and suddenly it was not just about numbers or profits, it was about the impact these businesses are making in their communities and industries. At 5X Capital, we are proud to have been part of their journey, and we look forward to seeing these human-centered enterprises grow and thrive," said Ms. Natalie Tan, Partner at 5X Capital.
These standout businesses embody the innovation and ambition that define Malaysia’s SME sector, having benefitted from months of intensive 4 days Accelerator Programme, Business Coaching. These business owners went through a rigorous 5-mins Business Pitching and 60-sec Elevator Pitch, and the finale 3-min Pitching with industry leaders. Besides the cash prizes, winners will also gain access to business loans at preferential rates, branding exposure, and potential venture capital funding, providing them with essential resources to scale their businesses.
The Alliance Bank BizSmart® Challenge attracted a record-breaking 593 submissions in this year’s Accelerator Edition, the highest since its inception in 2013, demonstrating the vibrancy and competitiveness among Malaysia’s SMEs. In this Accelerator Edition, everyone emerged as a winner, with each finalist receiving a prize due to the high standards of their performances. This reinforces the Bank’s commitment to fostering a spirit of inclusive success within the entrepreneurial community.
To honour the journey and achievements of all participants, the Bank unveiled a special film dedicated to the Alliance Bank BizSmart® Challenge Accelerator Edition, which premiered at a private screening for invited guests only in Aurum Theatre, The Exchange TRX. The film captures the inspiring stories and determination of the SME participants, highlighting the Challenge’s impact and the Bank’s commitment to nurturing entrepreneurial spirit in Malaysia. “We are releasing this film to celebrate our participants and to encourage a culture of entrepreneurship. This aligns with the Bank’s vision to be a community-centric institution that strives to serve businesses and consumers in a positive and meaningful way every day,” Kam added.
For more information about the Alliance Bank BizSmart® Challenge Accelerator Edition, please visit www.bizsmart.com.my.
BioLoop, a biotechnology firm focused on sustainable waste management, was named Champion, winning a total of RM265,000, which encompasses multiple accolades, such as the Cradle Partner Selection Award and Credit Guarantee Corporation Malaysia (“CGC”) Category Award. The company uses Black Soldier Fly Larvae technology to convert food waste into high-protein animal feed and organic fertilizers. With a mission to address Malaysia's waste challenges and contribute to food security, BioLoop has already processed over 8,000 metric tonnes of food waste since it was founded in 2020.
Gula Cakery, founded by Nor Arieni Ritzal, won second place and the CGC Category Award, bringing home a total of RM105,000 for its dedication to quality and community. What began as a small bakery in Kota Kemuning in 2015 has expanded to over ten locations, serving rustic cakes and offering baking classes, and has grown into a beloved brand with a homegrown story and a welcoming atmosphere that embodies family and tradition.
HiiVolt, Malaysia’s first provider of extended warranties for hybrid vehicle batteries, was a wild card participant from the Elevator Pitch round and they exceeded expectations by claiming third place. In total, HiiVolt received RM65,000, which includes the Cradle Partner Selection Award, CGC Category Award and Investor’s Choice Award by 1337 Ventures. The company’s innovative solutions, such as warranty solutions and eco-friendly battery refurbishing services, further support Malaysia’s growing green automotive industry.
“As we celebrate these dynamic SMEs, we recognise their dedication and the impact they bring to Malaysia’s economy. For over a decade, the BizSmart® Challenge has become a vital platform for nurturing Malaysia’s most promising entrepreneurs and the high standards of this year’s participants are a testament to the entrepreneurial talent in our nation. With the invaluable support of our esteemed partners - CGC, Cradle, 1337 Ventures and 5X Capital - we are committed to providing mentorship, industry insights, resources and opportunities for SMEs to thrive. In our endeavour of becoming The Bank For Life, we remain focused on empowering the next generation of business leaders to make a meaningful impact in their industries and communities,” said Mr. Kellee Kam, Group Chief Executive Officer of Alliance Bank.
The remaining 10 finalists each received RM5,000 as part of the Entrepreneur Recognition Award from Alliance Bank. BioLoop, Fubizo, HiiVolt, Mindhive and Ventamin were each awarded RM10,000 through the Partner Selection Award by Cradle. Additionally, Aenon Solutions, Asia Farms Network, BioLoop, Fubizo, Gula Cakery, HiiVolt, Mindhive, Sin Boon Kee, Ventamin, Xin Seng Fatt, were honoured with the CGC Category Award, valued at RM5,000 each. Mindhive was also named as one of the recipients of the Investor’s Choice Award by 1337 Ventures, highlighting their potential and offering venture capital funding to scale their businesses.
These awards underscore the Challenge’s commitment to fostering a diverse range pool of high-potential SMEs, equipping them with resources and opportunities that fuel growth and drive lasting business impact. By broadening its support, the Challenge enables more SMEs to make meaningful strides in their respective industries, reinforcing Alliance Bank’s dedication to cultivating Malaysia’s next generation of innovative entrepreneurs.
“Promoting the growth and development of competitive and dynamic Malaysian MSMEs is central to CGC’s vision. Through this strategic collaboration, we were privileged to hear from these contestants, who are also business founders, as they shared their strategic plans for expansion and market accessibility. Their strategies clearly outlined intentional efforts to boost productivity, improve operational efficiencies which resulted in higher revenue growth and contributed to their resilience and sustainability. The winners of the Alliance BizSmart Challenge have demonstrated remarkable adaptability and vision, coupled with qualities that are essential in today’s rapidly changing market. CGC is excited to support the journey of these competitive and dynamic Malaysian MSMEs which will have a positive impact to Malaysia's economic growth," said Datuk Mohd Zamree Mohd Ishak, President and Chief Executive Officer of CGC.
"The BizSmart® Challenge perfectly complements Cradle's mission of cultivating a vibrant startup ecosystem in Malaysia. We extend our heartfelt appreciation to Alliance Bank for giving tech startups the opportunity to participate in this impactful programme. I’m thrilled to see the innovative, tech-driven solutions showcased by the participants, putting forth their ambitious visions for transformative change in their industries. At Cradle, we are committed to empowering these entrepreneurs by providing access to crucial resources, mentorship, and growth opportunities. We look forward to further supporting these promising ventures, helping them expand and make a significant, enduring impact on both our economy and society," said Mr. Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle.
“We are constantly inspired by the innovation within Malaysia’s SME sector. This initiative has enabled us to work with some of the country’s most promising entrepreneurs, helping them refine their strategies and expand their market potential. The winners have showcased not only a deep understanding of their industries but also the agility and vision required to thrive in a dynamic business environment. We are eager to see their growth and are committed to supporting them as they scale their business,” said Mr. Bikesh Lakhmichand, Founding Partner and Chief Executive Officer of 1337 Ventures.
“The Challenge has shown us that each SME carries a unique story and purpose, making these businesses more than just enterprises, they are truly human ventures driven by passion and vision. Everyone brought their own story to the table, and suddenly it was not just about numbers or profits, it was about the impact these businesses are making in their communities and industries. At 5X Capital, we are proud to have been part of their journey, and we look forward to seeing these human-centered enterprises grow and thrive," said Ms. Natalie Tan, Partner at 5X Capital.
These standout businesses embody the innovation and ambition that define Malaysia’s SME sector, having benefitted from months of intensive 4 days Accelerator Programme, Business Coaching. These business owners went through a rigorous 5-mins Business Pitching and 60-sec Elevator Pitch, and the finale 3-min Pitching with industry leaders. Besides the cash prizes, winners will also gain access to business loans at preferential rates, branding exposure, and potential venture capital funding, providing them with essential resources to scale their businesses.
The Alliance Bank BizSmart® Challenge attracted a record-breaking 593 submissions in this year’s Accelerator Edition, the highest since its inception in 2013, demonstrating the vibrancy and competitiveness among Malaysia’s SMEs. In this Accelerator Edition, everyone emerged as a winner, with each finalist receiving a prize due to the high standards of their performances. This reinforces the Bank’s commitment to fostering a spirit of inclusive success within the entrepreneurial community.
To honour the journey and achievements of all participants, the Bank unveiled a special film dedicated to the Alliance Bank BizSmart® Challenge Accelerator Edition, which premiered at a private screening for invited guests only in Aurum Theatre, The Exchange TRX. The film captures the inspiring stories and determination of the SME participants, highlighting the Challenge’s impact and the Bank’s commitment to nurturing entrepreneurial spirit in Malaysia. “We are releasing this film to celebrate our participants and to encourage a culture of entrepreneurship. This aligns with the Bank’s vision to be a community-centric institution that strives to serve businesses and consumers in a positive and meaningful way every day,” Kam added.
For more information about the Alliance Bank BizSmart® Challenge Accelerator Edition, please visit www.bizsmart.com.my.
