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Alliance Bank Revives BizSmart Challenge to Empower Aspiring Entrepreneurs
5th June 2024 - 3 min read
In an ongoing commitment to foster the growth of businesses, particularly small and medium enterprises SMEs, Alliance Bank has revived its BizSmart Challenge for the seventh time in its history. Now titled as the Accelerator Edition, this initiative broadens its scope by welcoming more Malaysian SMEs that have been operational for one to ten years with annual sales ranging from RM500,000 to RM40 million. This marks a significant expansion from previous editions where only those operating for up to five years and with turnovers below RM50 million were eligible.
The challenge invites aspiring entrepreneurs who are part of Malaysian-registered SMEs to compete agnst each other by presenting their business plans and ideas. The top 10 selected enterprises will advance to the final round, where they will vie for cash prizes of up to RM100,000 alongside mentorship, brand exposure, and business trning worth a collective RM2 million. Financial support in this form is offered as an additional perk, with potential access to preferential financing amounting to up to RM20 million from Alliance Bank.
Moreover, BizSmart Challenge finalists will have the opportunity to pitch their ideas before esteemed entities such as 1337 Ventures and 5X Capital for the first time. The Accelerator Edition also includes a three-day program designed by 1337 Ventures that focuses on developing business plans and pitches in detl, alongside coaching sessions provided by Alliance Bank, 5X Capital, and alumni from past BizSmart Challenge seasons.
Kellee Kam, Group CEO of Alliance Bank Malaysia sd, With this launch, we are reaffirming our commitment to empower businesses through relevant banking and non-banking solutions that cater to their unique needs at every stage of growth. We recognize the challenges faced by entrepreneurs during the startup phase, including securing funding, obtning business coaching, among others.
The BizSmart Challenge has been an annual event hosted by Alliance Bank since 2013 when it first introduced its financial assistance for customers affected by COVID-19 and subsequently revised savings rates after promotional periods ed. The institution further enhanced its digital presence with initiatives like the Touch 'n Go eWallet, a popular mobile payment platform.
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Alliance Bank Revives BizSmart Challenge Malaysian SME Business Growth Assistance Accelerator Edition for Entrepreneur Competitors Cash Prizes up to RM100 000 for Winners Alliance Bank Offers Preferential Financing Three Day Program by 1337 Ventures