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SME Bank Y-Biz Challenge Nurture Young Entrepreneurs

KUALA LUMPUR : 24 July 2018

A total of 20 groups from 113 secondary schools that participated in the SME Bank Y-Biz Challenge 2018 and qualified to vie for the semi final round attended the bootcamp program held on 23 until 25 July 2018 in Kuala Lumpur to X for the top 10 place in the final round. Finalist will compete for the cash prize worth RM 64,000.00 and flight tickets worth RM25,000.00.

In line with the Bank’s mandate to nurture and develop the SMEs as well going beyond the financing role, SME Bank Y-Biz Challenge is one of the initiatives that contribute towards community development especially in entrepreneurship among the secondary school students and youth.

The semi final round tested the participants’ abilities to convince and sell their products to the panel of judges and the judging criteria focused on the marketing, financial and commercial aspects as well as business management skills. Each semi finalist received a seed capital of RM1,000.00 to enable them to produce their products for the presentation.

SME Bank Y-Biz Challenge 2018 was launched in December 2017. Each group must prepare a proposal paper and uploaded it on the www.yoursuccesourstory.com portal for preliminary evaluation. The selected 20 groups that advanced to the semi finals were required to participate in the 3 days 2 night bootcamp that filled with entrepreneurship and leadership activities. The final round is expected to take place in October 2018.

Since it’s launched in 2012, 1,344 students from 409 schools nationwide had participated in the competition. Among the milestones recorded by the participants included winning in international innovation competitions. Sekolah Berasrama Penuh Integrasi Rawang, winner of the SME Bank Y-Biz Challenge 2016 with their product, Essential Fan has won the Gold and Special Award in the 6th Bi-Annual International European Women Inventors & Innovators Network Exhibition, Conference and Awards held in Italy in 2017. Focusing on the element of entrepreneurship, some of the participants has started to market their product and recorded an impressive sale. Madrasah Idrisiah Kuala Kangsar, the 2013 second runner up with their product E-Pro Buster, a pest repellent gel was sold for more than 30,000 units while D’Lapique, a portable non-woven table cloth by the finalist of SME Bank Y-Biz Challenge 2013, SMK Malim, Melaka was successfully sold for more than 18,000 units since 2013.

The list of the top 10 finalist will be announced in SUKSES TV Program on Astro Awani channel 501 on 3 August 2018 at 8.30 pm.