Alliance Bank Malaysia Berhad has launched the BizSmart® Challenge Accelerator Edition, a cornerstone initiative to empower aspiring entrepreneurs and accelerate their business growth. Celebrating its 10th anniversary, the Bank has expanded the eligibility criteria to allow more SMEs to participate and grow their businesses exponentially.

In its seventh iteration, the challenge will accept participation from Malaysian-registered SMEs operating between one and 10 years with an annual sales turnover of RM500,000 to RM40 million.

For the first time in BizSmart® Challenge history, the top 30 finalists will have the opportunity to pitch their business plans and ideas to venture capital investors from 1337 Ventures and 5X Capital. This provides a chance to impress investors and secure long-term partnerships and investment funds.

The judges will select the top 10 businesses to proceed to a final round of business pitching, competing for cash prizes, mentorship, brand exposure, and business training worth up to RM2 million, as well as preferential financing of up to RM20 million from the Bank.

Finalists can leverage resources, experience, and know-how from an extensive network of program partners, including 1337 Ventures, 5X Capital, Credit Guarantee Corporation Malaysia Berhad (, and Cradle. These collaborations aim to support and accelerate the growth of promising businesses in Malaysia.

“The launch of the BizSmart® Challenge Accelerator Edition reaffirms our commitment to enabling business growth through dynamic banking and non-banking solutions. Business owners face various challenges, especially during the start-up phase, from securing funding to accessing relevant business coaching.

“We are partnering with experts to address these diverse needs. As a Bank aspiring to become The Bank For Life for our customers, we want to help businesses succeed at every stage, offering differentiated solutions to meet their unique needs as they grow,” said Kellee Kam, Group CEO of Alliance Bank.

Distinguished judges and investors include Kam, Bikesh Lakhmichand (Founding Partner & CEO of 1337 Ventures), Natalie Tan (Partner at 5X Capital), Sean Tan (Chief Business Officer from CGC), and Mohd Noor Hisham Abdul Bari (Assistant Vice President of MYStartup Malaysia from Cradle).

CGC President & CEO, Datuk Mohd Zamree Mohd Ishak, stated, “CGC’s ongoing partnership with Alliance Bank has culminated in a total Portfolio Guarantee of RM2.65 billion. Our collaborative efforts through the BizSmart® Challenge Accelerator Edition provide MSMEs with opportunities to strengthen essential skills, broaden critical knowledge, and gain firsthand exposure to industry leaders.

“This syncs with CGC’s mandate to guarantee MSME financing and bridge the gap between financial institutions and MSMEs.”

“Cradle is thrilled to participate in this year’s BizSmart® Challenge Accelerator Edition, a programme that exemplifies our commitment to fostering entrepreneurial innovation and growth. We are dedicated to providing essential resources to all entrepreneurs as they navigate their scaling journey towards success,” said Norman Matthieu Vanhaecke, Group CEO of Cradle.

Bikesh added, “We support high-growth SMEs through digital transformation. I’m excited to mentor these forward-thinking businesses through the fundraising journey and help them secure the investment needed to scale and thrive.”

Natalie of 5X Capital emphasized, “SMEs form the backbone of the Malaysian economy. We hope to grow the ecosystem for such companies to thrive via platforms like the BizSmart® Challenge, which offers ambitious founders opportunities for unparalleled exposure, nurturing experiences, and potential funding.”

A highlight of this year’s Challenge is a structured three-day accelerator programme led by 1337 Ventures, where the top 30 finalists will develop their business plans and pitches in detail. Participants will also benefit from tailored business coaching sessions covering various topics.

Since its inception in 2013, the BizSmart® Challenge has received over 2,200 submissions, with more than 155 finalists benefiting from the training and mentorship provided. Notable alumni include Amazin’ Graze, Signature Market, Christy Ng, Chriszen, myBurgerLab, BloomThis, and Heal Nutrition.

As part of the Challenge, the Bank will also organize the BizSmart® Business Conference 2024 on 16 July 2024, themed “Business Beyond Tomorrow.” The event will feature panel sessions, fireside chats, and breakout sessions with speakers from HEXA Food, Montigo Malaysia by RPG Commerce, Mamee, Venture Capitalists, and BizSmart® Challenge past seasons’ alumni.

Interested SMEs are encouraged to send in their submissions from now until 15 July 2024, with shortlisted participants to be contacted in August. For more information about the Alliance Bank BizSmart® Challenge Accelerator Edition, please visit here.

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