SME Bank Malaysia Berhad (SME Bank) has officially announced the winners of the 2024 SME Bank Sandbox Swiss Innovation Challenge (SSSIC). Six teams emerged victorious, sharing over RM100,000 in cash prizes, with one winning project selected to represent Malaysia at the Swiss Innovation Challenge 2024 International Pitch, scheduled to take place on October 21, 2024, in Switzerland.
Neoteric Engineering claimed the grand champion title in the Open Category, securing RM30,000. The team will represent Malaysia in Switzerland, presenting their groundbreaking Data-Driven Precision Plantation initiative. This project leverages AI, IoT, and satellite data to revolutionize farming and agribusiness, driving efficiency and sustainability.
Other notable winners in the Open Category include ProFeather, which took the first runner-up position and RM20,000, and Materials in Works, the second runner-up with RM15,000.
In the Tertiary Category, the team from Asia Pacific University of Technology & Innovation, Sunshine (FarmE), took home RM20,000 as champions. Smartlink Innovation (Ecowatch) from Tunku Abdul Rahman University of Management and Technology won RM15,000 as first runner-up, while REMORA from the University of Southampton placed second runner-up with RM10,000.
The SSSIC 2024 attracted 439 submissions, and after a rigorous screening process, 68 teams were shortlisted, with 19 finalists competing in two categories: Open (for start-ups, spin-offs, and young companies) and Tertiary (for students from higher learning institutions). The competition emphasized innovation, sustainability, and social impact, aligning with the Sustainable Development Goals (SDGs).
Minister of Entrepreneur Development and Cooperatives, YB Datuk Ewon Benedick, praised the initiative, stating, “SME Bank and its partners play a crucial role in fostering innovation and sustainability within the local entrepreneurial ecosystem. The SSSIC 2024 exemplifies the government’s efforts to create opportunities for empowering homegrown entrepreneurs, contributing to the 2030 Sustainable Development Agenda.”
SME Bank’s Acting Group President/Chief Executive Officer, Datuk Dr. Mohammad Hardee Ibrahim, emphasized the importance of the collaboration between SME Bank and the Swiss Innovation Challenge, a program led by the University of Applied Sciences and Arts Northwestern Switzerland (FHNW). He added, “This platform encourages entrepreneurs and SMEs to develop innovative solutions that drive sustainable business models and make a lasting societal impact.”
The award ceremony was officiated by YB Datuk Ewon Benedick, joined by other distinguished guests including YBhg. Dato’ Sri Khairul Dzaimee Daud, Secretary General of MECD, Dato’ Muslim Hussain, Chairman of SME Bank, and Datuk Dr. Mohammad Hardee Ibrahim.
The SSSIC 2024 was supported by strategic partners such as Universiti Malaysia Kelantan, Putra Business School, DRB-HICOM University of Automotive Malaysia, and the Swiss Malaysian Chamber of Commerce. Through this collaboration, SME Bank aims to cultivate an innovative ecosystem for SMEs, equipped with practical knowledge and mentorship through its subsidiary, Centre for Entrepreneur Development and Research Sdn. Bhd. (CEDAR).
