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 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,” said 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.
“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.
“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 Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle.
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.