Malaysian Global Innovation & Creativity Centre (MaGIC) introduced ClimateLaunchpad Malaysia, an inaugural competition aimed at cultivating innovative green and sustainable business ideas in Malaysia.
Launched in partnership with Malaysian Green Technology Corporation (MGTC) and ClimateLaunchpad, the world’s largest and smartest green business ideas competition, the programme seeks to find and foster the best green or eco-business ideas and help build these ideas intocommercially-viable and scalable businesses. ClimateLaunchpad is part of the Entrepreneurship offerings of EIT Climate-KIC. Climate-KIC is supported by the European Institute of Innovation & Technology (EIT), a body of the European Union.
Clean energy investment has largely increased over the last decade, with Asia’s investment in clean energy reaching USD187 billion in 2017. With a shared mission to unlock the potential of green ideas, the three partners have come together in this initiative to help push the green agenda in Malaysia, raise awareness and encourage more startups to focus their solutions on pressing issues such as reducing carbon emissions or plastic consumption.
Ashran Dato’ Ghazi, Chief Executive Officer of MaGIC, said: “We know that Malaysia needs green solutions and clean technology and with ‘going green’ also becoming an increasingly popular trend, startups are starting to step up and develop creative and innovative solutions which address today’s existing pain-points in a sustainable and ecological way. Through a programme such as the ClimateLaunchpad, we hope to raise awareness of the green and eco-entrepreneurship opportunities which exist, and encourage more promising entrepreneurs to focus on creating environmentally friendly solutions, that are impactful, and easy to adopt.”
He added, “Malaysia is already home to many promising social enterprises that address pressing social and environmental challenges creating a bigger social impact through their individual social enterprises. While we are proud of the progress that has been achieved to date, there remains more to be done. With this initiative we aim to help support the development of socially responsible enterprises that address environmental issues, helping find scalable ideas and foster entrepreneurs that can help change the world.”
Dr Mohd Azman Zainul Abidin, CEO of GreenTech Malaysia, said “Climate LaunchPad competition is the world’s leading green business ideas competition. Over 35 countries will participate in 2018, including Malaysia. GreenTech Malaysia agreed to partner with Climate LaunchPad and MaGIC for this programme as it will be the first platform to assist early startup companies & individual entrepreneurs to venture in green technology development. This GreenInitiator programme as how we call it, will help stimulate the growth of Malaysia’s green economy by the nurturing of green tech innovation and ideas, toward achieving the SDGs.”
The first of its kind to launch in Malaysia, ClimateLaunchpad 2018 comprises a 2-day bootcamp and 6-week accelerator programme accompanied with mentorship and go-to-market support from MGTC. The bootcamp will run from 12 - 13 July 2018 with the accelerator programme running from 16 July – 24 August 2018. MaGIC will provide co-working spaces for selected teams for the duration of up-to 6 weeks.
The national finals will take place from 1 - 2 November 2018 with 3 national champions (6 individuals) to be selected for the Global Grand Final in Scotland, inclusive of a fully-paid-for 3-night stay. The top-10 winners in the Grand Finale will win direct access to the Climate-KIC accelerator worth €95,000 investment in-kind. To submit an entry please go to https://mymagic.my/climate-launchpad/ .
Over the course of 6 weeks, participants will be put through specially tailored coaching sessions, deep diving into core topics of Customer Value Proposition, Market, Product, Financials, Climate Impact, Competitive Advantage and Pitching. Further, participants will be taken through discussions on business model development, Peer-2-Peer learning, and Entrepreneurs’ shared experiences. Apart from serving as coaches to the participants via providing industry expertise, MGTC will also aid the facilitation of go-to-market support, playing a pivotal role in validating their assumptions to further fine-tune their business models.
Ashran concluded: “We believe that economic growth should be balanced with environmental protection and we need to help ensure that everyone is moving towards a consciousness of ensuring that value-chains are sustainable and can create impact as well. As a driving force in our nation’s push to cultivate the social enterprise sector, MaGIC has introduced a variety of initiatives designed to support our national aspirations. We are proud to partner ClimateLaunchPad who runs the world’s largest and smartest green business ideas competitions, convincing growing numbers of startups around the world to join their global green tech community. We are excited that Malaysia’s social entrepreneurs will now have the opportunity to become part of this community.”