FIVE STARTUPS WIN MYCENTRE4IR ESG INNOVATION CHALLENGE 2024, HELD IN COLLABORATION WITH BURSA MALAYSIA
FIVE STARTUPS WIN MYCENTRE4IR ESG INNOVATION CHALLENGE
2024,
HELD IN COLLABORATION WITH BURSA MALAYSIA
Winners receive up to RM100,000 each to run pilot project
Kuala Lumpur, 7 November 2024 – The MYCentre4IR ESG Innovation Challenge 2024
(“The Challenge”) concluded today with five innovative startups winning RM100,000 each
in bridge funding to implement their proof-of-concept with their respective corporate
partners.
The Challenge is a joint initiative by the Malaysia Centre for Fourth Industrial Revolution
(“MYCentre4IR”) and Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”), seeking
to find cutting-edge digital solutions aimed at enhancing the Environmental, Social, and
Governance (“ESG”) efforts of five Malaysian Public Listed Companies (“PLCs”), namely CJ
Century Logistics Holdings Berhad, Globetronics Technology Berhad, Malayan Banking
Berhad, REDtone Digital Berhad and Sunway Innovation Labs (representing Sunway
Group).
Launched on 1 August 2024, the Challenge attracted local and international participants,
including from the United States of America, Sweden, Canada, India, Singapore and
Namibia. 32 out of 100 total submissions came from Malaysia.
Furthermore, the RM10 million allocation for the establishment of the National Artificial Intelligence Office (NAIO) will be instrumental in positioning Malaysia as an AI leader. “NAIO will serve as a central authority, ensuring coordinated and strategic alignment of Malaysia’s AI efforts,” he added.
The Challenge was powered by UpLink0F
1, the World Economic Forum’s open innovation
platform, with access to a global community of 80,000 entrepreneurs, investors, experts
and changemakers. UpLink’s technology-enabled approach surfaces early-stage
entrepreneurs and builds an innovation ecosystem to drive positive systemic change for
people and planet.
The World Economic Forum’s UpLink is an open innovation platform designed to connect entrepreneurs,
experts, and investors with the goal of tackling the world’s most pressing challenges, including climate
change, social inequality, and sustainable development. Visit https://uplink.weforum.org/uplink/s/ for
further details about UpLink.
Adrian Marcellus, Chief Executive Officer of MyDIGITAL Corporation, said “We initiated this
Challenge to discover new ideas and innovative digital solutions to facilitate and assist
companies in their journey towards net-zero carbon emissions or to improve efficiency
through process automation. It attracted over 100 submissions from entrepreneurs across
30 countries globally.”
He added, “The MYCentre4IR’s affiliation with the World Economic Forum provided us with
access to UpLink that is known for attracting global digital innovators and our challenge
is the first to be implemented via UpLink for the Southeast Asia region.”
Datuk Muhamad Umar Swift, Chief Executive officer of Bursa Malaysia shared the
Exchange’s role in this collaboration. “We are always looking to support innovative
companies with potential to list on the Exchange, which could very well include any one
of these startups. This is part of building a pipeline of diversified companies to grow within
our capital market. Apart from recognising the potential of upcoming startups, hosting this
Challenge reinforces the importance of deliberate efforts to embark on innovation,
towards achieving a company’s sustainability and business goals, which is an increasingly
common expectation of investors from PLCs these days.”
Winners of the MYCentre4IR ESG Innovation Challenge 2024
As part of the final round, 17 shortlisted startups presented their innovative solutions during the Demo Day held at Bursa Malaysia today, to a panel of 11 judges comprising representatives from Bursa Malaysia, MyDIGITAL Corporation, Cradle Fund Sdn Bhd and each of the five participating PLCs. This culminated with the selection of five winners, with one winning solution corresponding to each of the five PLCs.
As part of the final round, 17 shortlisted startups presented their innovative solutions during the Demo Day held at Bursa Malaysia today, to a panel of 11 judges comprising representatives from Bursa Malaysia, MyDIGITAL Corporation, Cradle Fund Sdn Bhd and each of the five participating PLCs. This culminated with the selection of five winners, with one winning solution corresponding to each of the five PLCs.
The RM100,000 in bridge funding for each winner will be co-disbursed in stages by
MYCentre4IR and Cradle Fund Sdn Bhd for the implementation of the proof-of-concept
pilot projects. The winning startups will work closely with their corporate partners, who
will provide guidance and mentorship throughout the year-long implementation phase.
The focus will be on achieving measurable process automation and ESG outcomes.
The five winners are:
- Greenetrix Sdn Bhd from Malaysia (Corporate Partner: CJ Century Logistics
Holdings Berhad)
Greenetrix provides a comprehensive carbon footprint tracking and reporting software tailored for logistics companies. Their platform integrates IoT hardware and data analytics to streamline environmental impact assessments, offering features such as real-time vehicle and route analysis. By consolidating data, Greenetrix simplifies carbon calculations and compliance, empowering businesses to enhance sustainability and operational efficiency.
- Wiser Machines from the United States of America (Corporate Partner:
Globetronics Technology Berhad)
Wiser Machines, an Atlanta-based start-up from Georgia Tech’s CREATE-X programme, develops scalable industrial IoT solutions. Their innovative hardware connects to equipment in a plug-and-play fashion, tracking energy consumption and machine health. Paired with AI-driven software, it visualises performance data, provides carbon reports, and predicts machine failures for efficient operations.
- The Surpluss from The United Arab Emirates (Corporate Partner: Malayan Banking
Berhad)
The Surpluss is a climate technology company focused on enabling SMEs to adopt circular economy practices by optimising waste, by-products, and unused resources. Their platform intelligently maps and matches surplus materials with local businesses, facilitating collaborations that reduce greenhouse gas emissions and operational costs while creating new revenue opportunities for participating SMEs.
- Pacton Technologies Sdn Bhd from Malaysia (Corporate Partner: REDtone Digital
Berhad)
Pacton Technologies, a leader in AI and IoT, transforms aquaculture with FishSpeak, offering real-time data and predictive insights. By optimising water quality and feeding schedules, their solution improves farm management while a leasing model makes cutting-edge technology accessible to small and medium-scale farmers. Page 4 of 9
- ReCircle Sdn Bhd from Malaysia (Corporate Partner: Sunway Innovation Labs)
Recircle revolutionises recycling in Malaysia with a mobile app that tracks carbon footprints and rewards users. Their platform connects individuals and businesses with reliable collection partners, enabling data-driven waste management and supporting sustainable practices across the community.
For more information on the Malaysia Centre4IR ESG Innovation Challenge, please visit www.centre4ir.my/home or contact c4ir@mydigital.gov.my.
Media Contact:
-END-
MyDIGITAL Corporation
Norhani Ahmad Jaya
norhani.aj@mydigital.gov.my
MyDIGITAL Corporation
Yu Wui Wui
wuiwui.yu@mydigital.gov.my
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.
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.