KUALA LUMPUR (March 15): Three Malaysian start-ups have been selected regional finalists in the Alipay-NUS Enterprise Social Innovation Challenge (The Challenge) for their innovative waste management solutions.
BlueBee Technologies, FatHopes Energy and Grub Cycle were picked for their ability to leverage digital technology to create environmentally-sustainable solutions that drive positive impact and improve lives.
BlueBee Technologies developed ERTH, an E-waste Recycling digital platform that offers competitive prices to buy end-of-life personal electronics while Grub Cycle’s digital platforms help supermarkets, farms and restaurants reduce food wastage.
FatHopes Energy deployed Internet of Things devices to automate waste cooking oil collection, and efficiently communicate collection fleets for pick-ups and delivery to refineries for biofuel production.
At the preliminary rounds, contestants demonstrated how they used digital technology to solve challenges across a wide range of sectors, including financial services, agriculture, health & wellness, education & training and food & beverage, among others.
The regional finalists will each receive a S$10,000 (RM30,000) cash prize to support their future growth and proceed to compete in the finale against other finalists from Singapore and Indonesia for the grand prize of S$50,000.
Finalists will also be eligible to join the 10x1000 Tech for Inclusion programme, jointly set up by International Financial Corporation, a member of the World Bank Group, and Alipay to support the cultivation of 1,000 technology experts in emerging markets from both public and private sectors over the next 10 years.
They will also receive mentorship and incubation support from NUS Enterprise for a period of three months as financial rewards to further their businesses’ social impact and access to its BLOCK71, an ecosystem builder and global connector community with co-working spaces.
Launched in November 2018, The Challenge is jointly organised by Alipay and the entrepreneurial arm of the National University of Singapore, NUS Enterprise. It aims to identify and support the growth of start-ups in Southeast Asia which use digital technology to build an inclusive society.