Alliance Bank has concluded the BizSmart® Challenge Accelerator Edition, recognising Malaysia’s most promising small and medium enterprises (SMEs) and awarding a total of RM550,000 in cash prizes to 13 winners. BioLoop, Gula Cakery, and Volt Motorsports (HiiVolt) were crowned as the top three rising businesses, standing out from ten other finalists for their innovation, business acumen, and growth potential.

BioLoop, a biotechnology company tackling sustainable waste management, was named the champion, earning RM265,000, including accolades such as the Cradle Partner Selection Award and the Credit Guarantee Corporation Malaysia (CGC) Category Award. Since its establishment in 2020, BioLoop has processed over 8,000 metric tonnes of food waste, contributing to Malaysia’s waste management and food security efforts.

Second place was awarded to Gula Cakery, founded by Nor Arieni Ritzal, which also secured the CGC Category Award, winning a total of RM105,000. From its humble beginnings as a bakery in Kota Kemuning in 2015, Gula Cakery has expanded to over ten locations, offering rustic cakes, baking classes, and a warm, family-centric atmosphere.

HiiVolt, Malaysia’s first provider of extended warranties for hybrid vehicle batteries, claimed third place as a wildcard entrant from the Elevator Pitch round. The company won RM65,000, including the Cradle Partner Selection Award, the CGC Category Award, and the Investor’s Choice Award by 1337 Ventures. HiiVolt’s innovative warranty and eco-friendly battery refurbishing services support the green automotive industry in Malaysia.

Alliance Bank’s Group Chief Executive Officer, Kellee Kam, emphasised the importance of the Challenge in fostering entrepreneurial talent and supporting SMEs.

“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. With the invaluable support of our esteemed partners, we are committed to empowering the next generation of business leaders to make a meaningful impact in their industries and communities,” he said. 

The ten remaining finalists each received RM5,000 under the Entrepreneur Recognition Award. Additional prizes included RM10,000 from the Cradle Partner Selection Award, given to BioLoop, Fubizo, HiiVolt, Mindhive, and Ventamin. Several finalists were also honoured with the CGC Category Award, valued at RM5,000 each. Mindhive was further recognised with the Investor’s Choice Award by 1337 Ventures for its growth potential and innovative approach.

The Challenge attracted a record-breaking 593 submissions, the highest since its inception in 2013. Participants underwent months of preparation, including a four-day Accelerator Programme, business coaching, and rigorous pitching rounds, culminating in the finale judged by industry leaders. In addition to cash prizes, winners gained access to business loans at preferential rates, branding exposure, and potential venture capital funding.

The Bank also premiered a special film at a private screening at Aurum Theatre, The Exchange TRX, showcasing the inspiring journeys of the Challenge participants.

“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 meaningful way,” Kam added. 

• TAGS:
• Alliance Bank
• Alliance Bank BizSmart Challenge
• Gula Cakery
• MSME
• MSMEs
• SME
• SMEs
• Volt Motorsports