News & Events

Alliance Bank EcoBiz Challenge 4 Offers RM10,000 For Best Green Social Business Idea

Challenge offers tertiary students and fresh graduates the opportunity to learn and tackle waste management as a green social business.

Kuala Lumpur – Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”), in collaboration with the Malaysian Green Technology and Climate Change Centre (“MGTC”), launched its fourth season of the EcoBiz Challenge with the theme of “Inspiring Malaysia to be a Zero-Waste Nation”.

This year’s EcoBiz Challenge 4 will integrate MGTC’s 20-week comprehensive learning programme, Jana Graduan Usahawan Hijau (“JaGUH”). Students will also receive guidance and mentoring from industry leaders and sustainability mentors in social business model development, green technology and innovation, digital social commerce and mindset and soft personal skills.

The EcoBiz Challenge is an environmental-themed competition in which tertiary students develop sound and sustainable business solutions to address environmental, economic or social issues. During the virtual launch of EcoBiz Challenge 4, Mr Joel Kornreich, Group Chief Executive Officer of Alliance Bank, said, “The EcoBiz Challenge is important because it helps us identify and nurture high-potential young social entrepreneurs to develop sustainable solutions for Malaysia. Over the last 3 seasons, we have seen how the EcoBiz Challenge has inspired Malaysian youths to innovate and improve the lives of our communities. We look forward to more innovative ideas from our youths on tackling this year’s theme of waste management.”

Mr. Ts Shamsul Bahar, Chief Executive Officer of MGTC said, “As an agency under the Ministry of Environment and Water (KASA), MGTC is mandated to champion green technology, climate change mitigation and green lifestyle. In preparing our nation for a sustainable future, developing our youths is a key agenda. We believe that youths have rich potential to make a difference in society through creative and exciting ideas. Towards this end, we introduced the JaGUH approach to nurturing green enterprises, green jobs, and entrepreneurs from graduates. As part of our strategy to drive economic growth, we encourage the establishment of sustainable businesses that have a low impact on the environment. Our JaGUH approach will enable us to tap into the innovativeness of youths while providing them with a platform to contribute towards greening the economy.”

This five-month learning programme is open to all tertiary students enrolled in a college or university in Malaysia. Applications commence from 27 September 2021 until 23 October 2021. Applicants will be progressively shortlisted. Only the 10 best teams will be selected to undergo the 20-week training and coaching using the JaGUH syllabus.

At the end of the training, these finalists will have the opportunity to pitch their projects to the judges. The winning team will walk away with RM10,000 cash, while the first and second runners-up will take home RM5,000 and RM3,000, respectively. Seven other teams will receive RM1,500 each. These 10 winning teams will undergo a six-month programme on growing sales, improving customer engagement and other crucial business topics post-Challenge.

The EcoBiz Challenge promotes a culture of environmental preservation among university students through a competitive learning platform and collaboration with industries. Additionally, it aims to raise awareness of the environment among students and spur them to develop sustainable social enterprises. This will inevitably shift the mindset of students from being job seekers to job creators.

Over the years, the EcoBiz Challenge has acted as a catalyst for sustainable business ideas. Past seasons’ achievements include conserving the Kerayong River under the national River of Life initiative and tackling water management issues in paddy fields. In total, EcoBiz Challenge has reached out to over 3,600 university students in seven states, garnering close to 500 submissions.

Watch the launch of the EcoBiz Challenge 4 by scanning the QR code or visiting https://www.facebook.com/mgtc.my/videos/4290394677695661. To sign up or for more information on the Ecobiz Challenge, please visit https://www.alliancebank.com.my/ecobiz.