1. What is BizSmart^® Challenge Accelerator Edition?

It is an initiative by Alliance Bank Malaysia Berhad (“ABMB”) to assist high potential young SME companies in Malaysia to break-through to the next phase of growth by connecting them to investors, i.e. 1337 Ventures Sdn Bhd and 5X Capital Sdn Bhd (“Programme Partners”).

The Programme provides learning and coaching as well as brand exposure to selected SMEs and offering of preferential financing funding to the selected finalists of BizSmart^® Challenge Accelerator Edition (“BizSmart^® Challenge”).

2. What is the difference between the BizSmart^® Challenge Accelerator Edition and the previous SME Innovation Challenge/ BizSmart^® Challenge in the years 2013, 2014, 2015, 2016 and 2020?

To commemorate the 10-year milestone, the BizSmart^® Challenge programme introduces the Accelerator Edition with bigger deals by:

• Expanding the eligibility to allow Malaysia’s growth stage SME to participate
• Provide infinite opportunities as the programme is connecting the potential SME with investors, such as 1337 Ventures, 5X Capital and etc.
• Up to RM20 million financing from Alliance Bank at a preferential rate

3. How does a business qualify for the BizSmart^® Challenge?

BizSmart^® Challenge is open to SMEs registered in Malaysia with business operations between 12 months and 10 years (maximum) and with an annual turnover of between RM500, 000 to RM40million (as at 30 April 2024).

4. When is the submission period for the BizSmart^® Challenge?

Submission period starts from 5 June 2024 and ends on 4 August 2024 (both dates inclusive). Submissions received before the start date and after the end date will not be entertained.

5. Where is the submission form available?

The submission form is available on ABMB website at www.bizsmart.com.my. There are no hardcopy submission forms available and only online applications will be accepted.

6. What are the details/ documents required for registration?

A complete business proposal with the following criteria:

• Company Profile
• Financial Performance
• Competitive Analysis
• 5-Year Business Plan (optional)
• Record a video on business overview (optional)

7. If I choose to submit a business overview video, what is the content required for the video submission?

Record a video on your business overview:

• Introduction about yourself
• Business overview
• The motif/ vision & mission (What inspired you to start this business)
• Unique Selling Points (USP)
• Target market
• Aspiration/ Business goal/ plan for the next five (5) years

8. If I choose to submit a business overview video, what is the video file format required?

ABMB and Programme Partners reserve the right to disqualify and/or delete any submission entries that exhibit indecency, vulgarity, obscenity, racial sentiments, profanity, violence or any other elements that are deemed inappropriate by ABMB, including but not limited to infringement of any third-party intellectual property rights. ABMB shall not be responsible for any such disqualification and/or deletion or unsuccessful posting of submission entry due to technical or Internet connection issues or for any other reason whatsoever.

9. How does the BizSmart^® Challenge programme works?

10. When and how will ABMB notify the successful participants?

ABMB anticipate to notify the successful participants by phone, emails and/or any other channels which deemed fits before 31 August 2024.

11. How does the evaluation process works to shortlist Top 30 participants?

A committee comprising of Senior Management from ABMB and its Programme Partners will evaluate all entries and their business potential. Only thirty (30) participants will be shortlisted and enter the next stage.

12. What will I gain as one of the Top 30 participants of BizSmart^® Challenge?

Top 30 participants will go through an intensive structured Accelerator Programme/ business coaching fully funded by ABMB and its Programme Partners, receive valuable advice from experts, as well as brand exposure for your businesses via online platform.

Brand story of the Top 10 finalists will be featured by ABMB on any platforms/ channels which deemed suitable and stand a chance to win cash prizes as well as receive business funding from Programme Partners.

13. Is it a must to attend the training/ business coaching courses/ Accelerator Programme arranged by ABMB and its Programme Partners?

Yes, each participant(s) registered must take part in all activities and events organised as part of the BizSmart^® Challenge for the entire duration of the programme, including all four (4) classroom trainings and talks (approximate. 40 hours) as deem suitable by ABMB and its Programme Partners from the month of August - September 2024.

14. What will I gain from the training/ business coaching courses/ Accelerator Programme?

The training/ business coaching courses/ Accelerator Programme focus on marketing, business growth strategy, implementation roadmap, talent management, presentation impact and business solutions sharing session from established names from Programme Partners, ABMB Senior Management team and past alumni.

15. What if I’m unable to complete the training/ business coaching courses/ Accelerator Programme?

If the registered participant(s) fails to attend any of the sessions conducted and/or does not complete any task/project within the stipulated time periods, a cogent reason/ written explanation should be provided to ABMB representative. If more than two (2) sessions (either physical or virtual session) are missed, the Participant(s) will automatically be disqualified from the BizSmart^® Challenge.

16. What if I drop out halfway from the programme?

In the event Participant(s) withdraw halfway from the programme without a cogent reason/ written explanation provided and/or becomes uncontactable by ABMB and its Programme Partners, ABMB reserves the right at its discretion to disqualify the Participants’ eligibility automatically and the Participant(s) is prohibited from taking part in future BizSmart^® Challenge related programmes.

17. Can I promote my participation in the BizSmart^® Challenge during the programme period?

Participants are not allowed to share any materials related to BizSmart^® Challenge on any platforms during the programme period unless informed otherwise by ABMB. ABMB will hold a briefing session with participants.

18. What other involvement will I be in during the participation in the BizSmart^® Challenge?

Participants will continue to participate in and facilitate activities in respect of the BizSmart^® Challenge, whether or not you are selected as Finalists or Winners, including activities for promotional purposes. BizSmart^® Challenge participants’ involvement include but not limited to:

• image, likeness and sound recorded on audio or video for the purpose of BizSmart^® Challenge without payment or any other consideration;
• image with may be edited, copied, exhibited, published or distributed and waive the right to inspect or approve the finished product wherein their likeness appears;
• use your organisation’s logo and other corporate branding visuals in any marketing and promotional materials. Photographic, audio or video recordings may be used for marketing and as promotional material in print, video and online; and
• materials containing image, likeness and sound in diverse initiatives for the current and future ABMB BizSmart^® Challenge initiatives. There is no time and geographical limitation on the distribution of the materials.

19. Will I be reimbursed for my expenses during my participation in the BizSmart^® Challenge?

Participants will bear all costs and expenses throughout your involvement in the BizSmart^® Challenge unless informed otherwise by ABMB.

20. Where can I get more details on the BizSmart^® Challenge?

You can obtain more information from our website at www.bizsmart.com.my. Alternatively, you can also send an email to alliancebankbizsmartchallenge@alliancefg.com.

21. What is the reward(s)/ prize(s) of BizSmart^® Challenge?

BizSmart^® Challenge offers prizes as tabulated:

BizSmart^® Challenge also provides infinite opportunities by connecting the potential SMEs with Programme Partners such as 1337 Ventures, 5X Capital and many more. Besides, top 10 finalists are entitled to apply up to RM20mil preferential rate financing with ABMB.

22. How does ABMB or Programme Partners disburse the reward(s)/ prize(s) to winner(s)?

• For cash prizes offered by ABMB, the prize money will be disbursed to winner’s Business Current Account/-i with ABMB.
• For cash prizes by Programme Partners, the prizes shall be arranged by the respective Programme Partners which will be credited into the winner’s ABMB Business Current Account/-i (BCA) opened with ABMB.
• For business funding opportunities, top 10 finalists will need to pitch the business model/ ideas in order to be entitled to receive the business funding provided by Programme Partners. Business funding will be provided by Programme Partners in any forms/ channels/ platforms which deemed suitable i.e. Equity Crowd Funding (ECF) platform, private placement and etc.

Prior to disbursements, winner(s) have to agree to undergo a thorough background investigation and other examinations, at ABMB and Programme Partners’ discretion. These checks may include but are not limited to verification of identity, source of funds, creditworthiness, and compliance with relevant regulations in Malaysia. The Participant(s)/Winner(s) further agrees to provide all requested documentation and information for the purpose of conducting such checks. Failure to comply with these requirements may result in termination of participation.

23. What is ABMB’s involvement when it comes to business funding and its distribution?

Any business funding or future dealings of participants with the Programme Partners will be a direct engagement between both parties and shall have no relationship with ABMB.

24. What are the other benefits offered in this programme?

• Brand exposure on Above the Line (ATL) & Below the Line (BTL) channels. i.e. social media, print, digital marketing, advertising & etc.
• Coaching and mentoring by the industry experts
• Networking opportunities - build your network by gaining new perspective from meeting with other progressive entrepreneurs
• Explore a new way to raise more capital for your business on Equity Crowd Funding (ECF) platform
• Other extended programmes or opportunities offered by ABMB

25. I’ve previously submitted for the SME Innovation Challenge/ BizSmart^® Challenge in Year 2013, 2014, 2015, 2016 and/or 2020 but was unsuccessful. Can I participate in the BizSmart^® Challenge Accelerator Edition this year?

Yes, you are eligible to participate the BizSmart^® Challenge Accelerator Edition.

26. If I’m one of the winners or finalists from the previous season (SME Innovation Challenge/ BizSmart^® Challenge in Year 2013, 2014, 2015, 2016 and/or 2020), can I participate in the BizSmart^® Challenge Accelerator Edition this year?

Yes, you are eligible to participate in the BizSmart^® Challenge Accelerator Edition as we’ve expanded the participation eligibility which helps to take your business to the next level. SMEs registered in Malaysia with business operations between 12 months and 10 years (maximum) and with an annual turnover of RM500,000 to RM40 million (as at 30 April 2024).