MYCentre4IR and Bursa Malaysia Co-Launch Global Innovation Challenge to Accelerate ESG Advancement with Digital Solutions
MYCentre4IR and Bursa Malaysia Co-Launch Global Innovation Challenge to Accelerate ESG Advancement with Digital Solutions
Kuala Lumpur, 1 August 2024 – The Malaysia Centre for the Fourth Industrial Revolution (MYCentre4IR) announces the launch of the Malaysia Centre4IR ESG Innovation Challenge (“Innovation Challenge”). In collaboration with Bursa Malaysia and powered by the World Economic Forum’s (“The Forum”) UpLink platform, this initiative invites startups and entrepreneurs from Malaysia and around the globe to submit their cutting-edge digital solutions aimed at enhancing the Environmental, Social, and Governance (ESG) efforts of five Malaysian Public Listed Companies (PLCs)1 namely CJ Century Logistics Holdings Berhad, Globetronics Technology Berhad, Malayan Banking Berhad, REDtone Digital Berhad and Sunway Innovation Labs (representing Sunway Group).
Empowering Innovators, Driving Change
This Innovation Challenge seeks to connect bright minds and promising startups with Malaysian PLCs in diverse sectors such as agriculture, construction, financial services, logistics and manufacturing. The challenge aims to uncover innovative solutions that address industry challenges, thus potentially increasing business competitiveness and benefit businesses and the environment in Malaysia and beyond.
Strategic Collaboration
Partnering with Bursa Malaysia, one of Southeast Asia’s largest bourses2 , and powered by UpLink, The Forum’s open innovation platform, this challenge leverages the strengths and networks of these prestigious organisations. The partnership with UpLink will enable the challenge to have global reach and attract high-calibre submissions from around the world. The Innovation Challenge aligns with Pillars 2, 4, and 5 of Bursa Malaysia’s Public Listed Companies Transformation Programme3, as it promotes the development and adoption of technologies that further ESG principles whilst providing a valuable opportunity for PLCs to explore Corporate Venture Capital (CVC) practices. This initiative not only supports startups and entrepreneurs but also aids PLCs in becoming more sustainable.
1. An expression of interest was launched post an ESG Tech Based Innovation Workshop held at Bursa Malaysia and received interest from these five PLCs
2. More than 1,000 PLCs, the highest number of PLCs among exchanges in the region
3. The PLC Transformation Programme by Bursa Malaysia is underpinned by five pillars, which includes (1) Creating Purpose and Performance-Driven PLCs (2) Being Sustainable, Socially Responsible and Ethical PLCs; (3) Strengthening Stakeholder Management and Investor Relations (4) Being Digitally Enabled, and (5) Contributing towards Nation Building
Focus Areas
With a focus on process automation and net-zero solutions, the Innovation Challenge centres on the following areas:
- CJ Century Logistics Holdings Berhad
- Data collection for logistics fleet management
- Predictive model for data analysis and sustainability planning
- Globetronics Technology Berhad
- Efficiency improvement in manufacturing
- AI-assisted virtual production assistants
- Malayan Banking Berhad
- Building climate resilience: Opportunities in climate mitigation and adaptation
- Waste to wealth: Helping SMEs generate savings on their recurring waste costs
- REDtone Digital Berhad
- Leveraging Internet of Things (IoT) for smarter Malaysian farms
- Unlocking AI’s potential for Malaysian agriculture
- Sunway Innovation Labs (representing Sunway Group)
- Preventative health and well-being
- Circular economy
Application and Selection Process
Applications are now open via UpLink and will close on 31 August 2024. A panel of industry experts and representatives from MYCentre4IR, Bursa Malaysia, and the World Economic Forum will evaluate the submissions. The Innovation Challenge will culminate with a Demo Day at Bursa Malaysia on 7 November 2024, where five of the most promising ideas will receive pilot project funding opportunities and access to a network of industry leaders and investors.
For more information about the Malaysia Centre4IR ESG Innovation Challenge and how to participate, please visit the challenge page here or contact c4ir@mydigital.gov.my.
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About Malaysia Centre for the Fourth Industrial Revolution (MYCentre4IR)
Hosted by MyDIGITAL Corporation (an agency under the Ministry of Digital) and in collaboration with the World Economic Forum (The Forum), the MYCentre4IR is the 1st centre in Southeast Asia and 19th in The Forum’s global network. It is a dynamic and forward-thinking platform designed to ignite innovation, facilitate policy development, and drive collaboration on a global scale. The partnership with The Forum provides access and connections to a vast pool of knowledge, best practices, and global insights from a network of like-minded organisations and countries, enabling learning and collaboration on cutting-edge projects.
About Bursa Malaysia
Bursa Malaysia is an Exchange holding company incorporated in 1976 and listed in 2005. It has grown to be one of the largest bourses in ASEAN. Today, Bursa Malaysia operates and regulates a multi-asset exchange, offering a comprehensive range of investment, capital raising, and exchange-related facilities. Bursa Malaysia is committed to its mission of Creating Opportunities, Growing Value for the Malaysian capital market, economy, and society. Learn more at BursaMalaysia.com.