Highlighting the Role of Innovation in Achieving Sustainability and Business Goals
Powered by UpLink, the World Economic Forum's Open Innovation Platform
Winners of the MYCentre4IR ESG Innovation Challenge 2024 alongside corporate partners and guests, including Norman Matthieu Vanhaecke, CEO of Cradle Fund; Ellina Roslan, Senior Director MYCentre4IR, MyDIGITAL Corporation; and Muhamad Umar Swift, CEO of Bursa Malaysia.
Five startups emerged as winners of the MYCentre4IR ESG Innovation Challenge 2024, receiving US$22,344 (RM100,000) each in bridge funding to implement their proof-of-concept solutions in collaboration with their corporate partners. The awards ceremony included notable guests such as Norman Matthieu Vanhaecke, CEO of Cradle Fund; Ellina Roslan, Senior Director at MYCentre4IR, MyDIGITAL Corporation; and Muhamad Umar Swift, CEO of Bursa Malaysia.
The ESG Innovation Challenge, jointly organized by MYCentre4IR and Bursa Malaysia, aimed to identify innovative digital solutions that enhance the Environmental, Social, and Governance (ESG) initiatives of five Malaysian public listed companies: CJ Century Logistics Holdings Bhd, Globetronics Technology Bhd, Malayan Banking Bhd, REDtone Digital Bhd, and Sunway Innovation Labs (representing Sunway Group).
Launched on August 1st, the Challenge attracted over 100 submissions from various countries, including the United States, Sweden, Canada, India, Singapore, and Namibia, with 32 submissions coming from Malaysia.
The event was powered by UpLink, the World Economic Forum’s open innovation platform, which provides access to a global community of entrepreneurs, investors, experts, and changemakers. UpLink's technology-enabled approach helps identify early-stage entrepreneurs, fostering an innovation ecosystem to address major global challenges.
Adrian Marcellus, CEO of MyDIGITAL Corporation, emphasized the importance of innovation in sustainability efforts, stating that the Challenge aimed to find new digital solutions that facilitate companies’ journeys towards net-zero carbon emissions or increased efficiency through automation. He highlighted the unique role of UpLink, as this was the first challenge implemented via the platform for the Southeast Asia region.
Bursa Malaysia CEO Muhamad Umar Swift spoke about the Exchange's role in this collaboration, noting that supporting innovative startups could potentially lead them to list on the Exchange, enhancing the capital market's diversity. He added that such challenges underscore the importance of deliberate innovation to achieve sustainability and business goals, which is increasingly demanded by investors.
Winners of the MYCentre4IR ESG Innovation Challenge 2024
Seventeen shortlisted startups presented their solutions at a Demo Day held at Bursa Malaysia, with the winners selected by a panel of 11 judges representing Bursa Malaysia, MyDIGITAL Corporation, Cradle Fund, and the participating public listed companies. Each of the five winning startups received RM100,000 in bridge funding, which will be disbursed in stages by MYCentre4IR and Cradle Fund to support the implementation of their proof-of-concept projects. The startups will work closely with their corporate partners over the year-long implementation phase, focusing on measurable ESG and process automation outcomes.
The Five Winners Are:
Greenetrix Sdn Bhd (Malaysia, Corporate Partner: CJ Century Logistics):
Greenetrix offers comprehensive carbon footprint tracking and reporting software for logistics companies. By integrating IoT hardware and data analytics, their platform simplifies carbon calculations and compliance, helping businesses enhance both sustainability and operational efficiency.
Wiser Machines (United States, Corporate Partner: Globetronics):
Based in Atlanta, Wiser Machines develops industrial IoT solutions that connect to equipment in a plug-and-play manner, tracking energy consumption and machine health. Their AI-driven software provides performance insights, carbon reports, and predictive maintenance features.
The Surpluss (United Arab Emirates, Corporate Partner: Malayan Banking):
The Surpluss is a climate tech company focused on the circular economy, helping SMEs optimize their use of waste, by-products, and resources. Their platform matches surplus materials with local businesses, reducing emissions and costs while generating new revenue opportunities.
Pacton Technologies Sdn Bhd (Malaysia, Corporate Partner: REDtone Digital):
Pacton Technologies' FishSpeak system offers real-time data and predictive insights to optimize aquaculture. The solution improves farm management by enhancing water quality and feeding schedules, while a leasing model makes the technology accessible to smaller farmers.
ReCircle Sdn Bhd (Malaysia, Corporate Partner: Sunway Innovation Labs):
ReCircle focuses on recycling in Malaysia through a mobile app that tracks carbon footprints and rewards users. It connects individuals and businesses with reliable collection partners, supporting sustainable waste management practices.
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