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SME Bank Sandbox Swiss Innovation Challenge 2024

SME Bank is pleased to introduce the SME Bank Sandbox Swiss Innovation Challenge 2024 (SSSIC). This competition aims to uncover innovative business ideas with significant environmental, social, and economic impact.

Entrepreneurs and innovators have the opportunity to demonstrate their creativity and propose unique solutions to today's challenges. Participants will present their ideas for evaluation by a panel of experts.

Top ideas will receive recognition and could potentially be implemented in the real world, making a positive difference in people's lives. One winning innovation project will represent Malaysia at the Swiss Innovation Challenge 2024 International Pitch on 21st October 2024*.

The competition invites submissions of any business model or idea at any stage of development, from concept/ideation to enterprise. Submissions must demonstrate tangible solutions that align with at least one or more targets and indicators of the following United Nations' Sustainable Development Goals (SDGs):

Sustainable Development Goals (SDGs)

SDG 1 - No poverty
SDG 4 - Quality Education
SDG 6 - Clean Water and Sanitation
SDG 7 - Affordable and Clean Energy
SDG 12 - Responsible Consumption and Production
SDG 13 - Climate Action
SDG 14 - Life Below Water

Submission for SSSIC 2024 is now closed.

Open

Open to all start-up, spin-off, or established companies of not more than 5 years of operations.
Each team should consist of a minimum of 2 team members and a maximum of 5.
Open to all nationals, however, each team must consist of at least one Malaysian member.

Submission is now closed

Tertiary

Currently pursuing undergraduate or postgraduate studies in local public or private institutions of higher learning.
You may already be running your own business or have an innovative business idea that meets the objective of the competition.
Each team should consist of a minimum of 2 team members and a maximum of 5.
Open to all nationals, however, each team must consist of at least one Malaysian member.

Submission is now closed

Prizes

Winner	Tertiary	Open
1st	RM20,000.00	RM30,000.00
2nd	RM15,000.00	RM20,000.00
3rd	RM10,000.00	RM15,000.00

One winning innovation project will represent Malaysia at the Swiss Innovation Challenge 2024 International Pitch on 21 October 2024.*

Competition Timeline

Submission of Proposals

The requirement for submission is the description of your own innovation idea on no more than two A4 pages.
This description is intended to cover the following points briefly and concisely:

Innovation: short and exciting description of the innovation. What is the innovative value? What added value does it generate? How does it create social or environmental impact?
Customers and customer benefits: Who are our customers and what benefits do we bring to the customers? Is there a proof of concept?
Rudimentary competitor analysis: What is our competitors approach? What makes our innovation stand out?
How is the scaling potential of the idea estimated?
Financing estimates: How large is the capital requirement? How will it be financed?
Estimates on the revenue situation: cost structure / breakeven / profit dynamics?
Roadmap: What are the next steps?

Submitted Documents will undergo preliminary screening based on Bank Sandbox Swiss Innovation Challenge 2024 application form requirements.
Application must be written in ENGLISH.
Please complete the form to participate. Incomplete or late submissions will not be accepted.
Submission Deadline: 26 July 2024 (11:59 PM)
Announcement of the finalists will be made on 30 August 2024.

Screening

Pre-Screening of all submissions (online)

First Pitching

SSSIC 2024 first pitch: 20-22 August 2024
The first pitch lasts 3 minutes, the following question and answer session also 3 minutes
The pitch will be conducted in hybrid format. The first pitch focuses on the innovation itself and the customers.
The jury evaluates the innovation content, the presentation of the customers or the customer benefits or, if available, the proof of concept. In addition, the presentation itself is also evaluated.
However, the presentation should also briefly address the following points: competitor analysis, financial planning and financial requirements, market entry and market development, mid-term objectives or scaling (at least two years), skills / competences of the team.
At least ½ of the presentation should focus on innovation and customers.

Presentation of the Idea or the Innovation	Focus, approx. 1 minute.
Customers and Customer Benefits (Proof of Concept)	Focus, approx. 30 seconds.
Very brief competitor analysis. Few details on financial planning and financial requirements. Few details on market entry and market development. A short note on mid-term goals / scaling. Short description of the team and its skills / competences.	Approx. 1.30 minutes

For moving forward, the points from the evaluation of the following criteria are summed up:

Innovation content
Customers / customer benefits / proof of concept.
Presentation.

Final Pitching

SSSIC 2024 final pitch: 26 September 2024
The pitch will be held in person

Final Pitch Presentation

The final pitch lasts 7 minutes, the following question and answer session also 7 minutes.
At least ½ of the presentation should focus on the points of market entry and market development, mid-term goals or scaling (at least two years) and the skills / competences of the team.
Rough storyboard:

Presentation of the idea or the innovation.	Should be mentioned, but not focus. Approx. 3 to 3.30 minutes.
Presentation of customers and customer benefits (proof of concept)1
Very brief competitor analysis.
Few details on financial planning and financial requirements.
Few details on market entry and market development.	Focus, approx. 1 to 1.30 minutes.
A short note on mid-term goals / scaling.	Focus, approx. 1 minute.
Short description of the team and its skills / competences.	Focus, approx. 1 minute.

at least

1 slide market entry and market development (operationalised in terms of distribution channels and distribution structures).
1 slide on important development steps for the product/service and product/service placement.
1 slide on mid-term goals or scaling for at least two years with concrete performance indicators.
1 slide financing the implementation phase, building up human resources needed in the future and setting up production (if necessary).
1 slide on skills / competences of the team.
The draft presentation is submitted before the pitch, and it is checked whether the points presented above are included in this form.

Swiss Innovation Challenge 2024 Global Pitching

Swiss Innovation Challenge 2024: 21 October 2024.
A maximum of two (2) representatives of the selected winning team shall join the International Pitch of the Swiss Innovation Challenge in Switzerland.

General Terms

SME Bank and/or affiliates will not be responsible or liable for any loss in connection with the competition, including, but not limited to the following:
1. Any problem, loss or damage of whatsoever nature suffered by any party due to any delay and/or failure in receiving and sending the submission as a result of any network, communication or system error, interruption and/or failure experience by the participating internet line and/or resulting from participation or the downloading of any materials in the competition.
2. Any problems, expenses, damages, losses, suits and claims of whatsoever nature against any participants that may arise from or in connection with their participation in the competition and/or display of participants entries.
3. Any error (including error in notification of competition winners), omission, interruption, deletion, defect, delay in operation or transmission, internet line failure, theft, destruction of, or unauthorized access to entries, unresponsive devices whether or not arising during operation or transmission as a result of server functions, virus, bugs or other causes outside its control.
By entering the competition, participants shall agree to appear in any marketing and promo materials on the but not limited to internet, videos, and photographs write-ups which may be used in advertising (any form of media) or other materials by SME Bank, their sponsors and/or affiliates. Participants shall not be entitled to any payment for such use, or for any re-use; and acknowledge that all copyright, including the right to reproduce likeness or image shall belong to SME Bank and/or affiliates absolutely; and to release and discharge of SME Bank, their sponsors and/or affiliates from any claims in relation to the use of likeness or image.
SME Bank reserves right to disqualify any individual that it determines to be tampering with the application process of the operation of the competition, to be acting in breach or potential breach of this competitions Terms and Conditions.
SME Bank reserves the right to cancel, modify, suspend or delay the competition in the event of unforeseen circumstances beyond its reasonable control.
By participating in this competition, all participants hereby warrant that all statements personal details given are true, correct, and accurate and that they have read and understood all the Terms and Conditions of the competition and agree to unconditionally bind by it.
By participating in this competition, all participants agree to defend, indemnify and hold SME Bank, their sponsors and/or affiliates harmless from and against any suits, claims, losses, damages and expenses, including reasonable legal fees that may arise from or in connection with the competition.
The selection of one winning innovation project to represent Malaysia at the Swiss Innovation Challenge 2024 International Pitch on 21 October 2024 is at the discretion of the jury.
A maximum of two (2) representatives of the selected winning team shall join the International Pitch of the Swiss Innovation Challenge in Switzerland.
SME Bank reserves the right to change, amend, delete or add any of these Terms and Conditions without prior notice and the participants will be bound to such changes.
Any Terms and Conditions applicable to this competition which is illegal, prohibited or unenforceable under any law or regulation shall be ineffective to the extent of such illegality, voidness, prohibition or unenforceability without invaliding the remaining provisions.
These Terms and Conditions are governed by and construed under the laws of Malaysia.
For any inquiries, kindly contact [email protected].

FAQ

The challenge is open to the public with innovative business ideas related to the mentioned Sustainable Development Goals (SDGs). The competition has two categories: Open and College / University, each requiring at least 2-5 members.

Business proposals must address one or more targets of the selected SDGs and demonstrate a significant and positive impact on the community.

At least one of the following:

SDG 1 - No Poverty
SDG 4 - Quality Education
SDG 6 - Clean Water and Sanitation
SDG 7 - Affordable and Clean Energy
SDG 12 - Responsible Consumption and Production
SDG 13 - Climate Action
SDG 14 - Life Below Water

The SSSIC 2024 will only accept business proposals that are related to the mentioned Sustainable Development Goals (SDGs).

Whether you are at the idea stage or a startup, you are encouraged to submit your innovative solution. Please refer to the "Submission of Proposals" section under the Competition Timeline for more information.

No, each team is allowed to submit only one application. If multiple submissions are received from the same team, only the latest submission will be considered.

Copyrights belong to each team but SSSIC 2024 Secretariat may seek prior consent to the use of information of the events for promotional purposes.

Participants will receive mentorship, guidance, networking opportunities and feedback from industry experts and mentors throughout the challenge

You can submit your business proposal through the official website of SSSIC 2024.