Winner of SSSIC standout innovation to represent Malaysia in Switzerland

27 September 2024

KUALA LUMPUR: SME Bank Malaysia Berhad (“SME Bank”) has announced the winners of the SME Bank’s Sandbox Swiss Innovation Challenge (“SSSIC”) 2024.

This year, six exceptional teams were recognised, collectively winning over RM100,000 in cash prizes.

Additionally, one standout innovation project has been selected to represent Malaysia at the prestigious Swiss Innovation Challenge 2024 International Pitch in Switzerland, scheduled for 21 October 2024.

In the Open Category, Team A emerged as the Champion, winning RM30,000. Team B secured the title of first runner-up with a prize of RM20,000, while Team C earned the position of second runner-up, receiving RM15,000.

Meanwhile, for the Tertiary Category, Team D was crowned the Champion, taking home RM20,000, whilst Team E was the first runner-up receiving RM15,000 and Team F as the second runner-up receiving RM10,000.

The SSSIC 2024 successfully attracted 439 submissions that went through a rigorous screening process.

Sixty eight teams were shortlisted with only 19 finalists, comprising 10 from the Open category and 9 from the Tertiary category.

The Open Category comprised start-ups, spin-offs and companies with no longer than five years of establishment, whilst the Tertiary Category comprised public and private higher learning learning institutions in Malaysia.

This year’s challenge placed a strong focus on innovation, sustainability and social impact, as many of the submissions were aligned with the principles of the Sustainable Development Goals.

SME Bank Crowns Winners of SME Bank Sandbox Swiss Innovation Challenge, Leading Team Set for Swiss International Pitch.

The SSSIC 2024 award ceremony was officiated by Datuk Ewon Benedick Minister of Entrepreneur Development and Cooperatives (MEDC) who said, he was pleased to see that SME Bank, together with its partners are sharing a collective passion that aligns with the Malaysian Government’s agency that is dedicated in the value creation of the SME ecosystem.

" This collaboration fosters innovation and sustainability within our local entrepreneurial ecosystem and supports the Government's 2030 Sustainable Development Agenda."

The SSSIC 2024 is a prime example of the government creating pockets of opportunities, through its agencies, to continue empowering our homegrown entrepreneurs locally and beyond.”

SME Bank Acting Group President and Chief Executive Officer, Datuk Dr. Mohammad Hardee Ibrahim said, “The SME Bank Sandbox Swiss Innovation Challenge 2024 is a partnership between SMEBank and the Swiss Innovation Challenge (SIC), a prestigious programme owned by the School of Business of the University of Applied Sciences and Arts Northwestern Switzerland (FHNW)that fosters innovation across both ASEAN and European countries."

"This collaboration has enabled us, along with our strategic partners, to provide a unique platform for entrepreneurs and SMEs to showcase their innovative business ideas. Through this challenge, we seek to inspire new solutions, drive sustainable business models, and make a meaningful and lasting impact insociety.”

In partnership with FHNW, together with SME Bank’s subsidiary, Centre for EntrepreneurDevelopment and Research Sdn. Bhd. (CEDAR), the SSSIC 2024 serves as a platform aimed at cultivating an ecosystem that empowers SMEs to generate innovative and high impact ideas, emphasising on environmental, social, and economic impact.

Through CEDAR, the SSSIC 2024 is equipped with practical knowledge and skill enhancement through experienced coaches andentrepreneurs.

The SSSIC 2024 is also supported by the Universiti Malaysia Kelantan, Putra Business School, DRB-HICOM University of Automotive Malaysia and the Swiss Malaysian Chamber of Commerce.

Also in attendance were Dato’ Sri Khairul Dzaimee Daud, Secretary General of MEDC along with Datuk Dr.Mohammad Hardee Ibrahim, Acting Group President and Chief Executive Officer of SME Bank.

SME Bank, established in 2005 is an agency under the purview of MEDC.