Perseverance, Innovation, And Support: Key Drivers Of Business Success For Bizsmart Challenge Winners

By Naveen Prabu

KUALA LUMPUR, March 19 (Bernama) -- The winners of the Alliance Bank Malaysia Bhd’s BizSmart Challenge Accelerator Edition have proven that perseverance, innovation, and the right support are crucial to overcoming business challenges and achieving sustainable success.

Last December, the challenge awarded RM550,000 in cash prizes to 13 outstanding businesses, with BioLoop Sdn Bhd, Gula Cakery Sdn Bhd, and Volt Motorsports Sdn Bhd (HiiVolt) emerging as the top three, impressing judges with their exceptional business acumen, innovation, and growth potential, surpassing ten other strong finalists.

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In an exclusive interview with Bernama, the founders of the top three companies -- BioLoop chief executive officer (CEO) Mah Jun Kit, Gula Cakery CEO Nor Arieni Adriana Mohd Ritzal and HiiVolt CEO Jay Jayabalathilagam -- shared their entrepreneurial journeys, discussing the obstacles they faced, how they overcame them, and the role Alliance Bank played in supporting their growth. 

BioLoop, a biotechnology firm focused on sustainable waste management, uses Black Soldier Fly Larvae (BSFL) technology to convert food waste into high-protein animal feed and organic fertilisers.

Mah said that the inspiration for his business came while he was studying in London, where he observed two companies successfully raising substantial funding for BSFL technology.

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“At that time, there were not many agricultural deals across the European Union, but I saw two companies, one in the Netherlands and one in France, each raising approximately US$200 million (US$1=RM4.44).

“So I thought, why not do it in a more cost-effective country like Malaysia, where the tropical climate is more suitable, and overall operational costs are lower?” he said. 

BioLoop was named the BizSmart Challenge champion and secured RM265,000 in prizes, including the Cradle Partner Selection Award and the Credit Guarantee Corporation Malaysia (CGC) Category Award.

For Nor Arieni, whose company Gula Cakery won first runner-up and the CGC Category Award, totalling RM105,000, baking and cooking have been a lifelong passion since childhood.

“I am a family-oriented person, and since I live with my grandmother, who loves to cook, I guess that is where my eagerness to learn cooking began.

“I started cooking at a young age, making cakes that I later sold at bazaars, and even in university, I continued selling them as I began earning money,” she said. 

Jay, the founder of HiiVolt, Malaysia’s first provider of extended warranties for hybrid vehicle batteries, was inspired by his desire to solve diverse problems, drawing on his background as a doctor.

“I have always had a passion for automotive since I was young, as my father used to fix cars and handle repairs, and wanting to pursue this passion and become an entrepreneur in the industry, I left my medical practice a decade ago to join him,” he said.

When asked about their motivation to join the Alliance Bank BizSmart Challenge, Mah explained that, unlike many other accelerators in Malaysia, this programme did not have stringent conditions such as high costs or equity-linked programmes, which was the key factor in his decision to participate.

“That is really a no-lose situation. At the very worst, you receive guidance and mentorship similar to any accelerator programme, but at best, you gain something tangible. That was my motivation behind it, a very business-oriented decision. 

“Now, after experiencing the journey, it feels like a surreal programme, as I have been in accelerators before, but none quite like the Alliance Bank BizSmart Challenge, with its truly impressive production quality surrounding it,” he said.

Nor Arieni explained that as her business expanded, she decided to explore available opportunities.

“Upon realising it was a pitching competition, I felt confident as I have participated in similar events before. I saw this as an opportunity to explore new possibilities and face challenges.

“Additionally, knowing that videos would be involved, I felt that this aligned with my strengths, and I was eager to take part,” she said. 

Meanwhile, Jay’s motivation behind participating in this competition stems from his goal to advance and elevate the automotive industry.

“I wanted the nation to understand and recognise what we are doing and see our solutions.

“Having followed Alliance Bank’s focus on innovation and sustainability, I decided to participate, seeing it as the perfect opportunity to share our work,” he said. 

Speaking about their plans, Mah said that by associating with Alliance Bank, they can rely on the bank's support and credibility to help expand their business into new markets.

“Now, with a financial institution backing us to some extent, and with more people understanding and believing in our idea, our confidence in executing the plan is significantly higher, thanks to this programme,” he said.

For Nor Arieni, expanding by opening three additional outlets is part of the plan for the year.

“The assistance from Alliance Bank and being the first runner-up has provided significant financial support.

“So, the plan is to open three outlets this year, launch a crowdfunding initiative next year, establish our factory soon, and expand beyond Kuala Lumpur,” she said.

Meanwhile, Jay intends to use the prize money as the challenge’s second runner-up to acquire state-of-the-art diagnostic kits, equipment, and tools to support the hybrid vehicle market.

“In the short term, we are focusing on expanding our services nationwide, as well as offering door-to-door support for hybrid battery replacements with warranties, all while prioritising the resolution of our customers' problems,” he said. 

When asked about their advice for aspiring entrepreneurs, the three winners reflected on the key lessons they had learned throughout their journeys.

Mah emphasised the importance of genuineness in both personal motivation and business execution.

"Understanding why you are doing this is crucial. If you’re not genuine about your purpose, you’ll burn out quickly when faced with daily challenges. Being transparent about the vulnerabilities in your business rather than sugarcoating everything also builds credibility and trust," he said.

Arieni encouraged entrepreneurs to dream without fear, emphasising that hesitation and self-doubt often hold people back.

"Many entrepreneurs hesitate to put themselves out there, fearing failure. But knowing where you stand in the market and being well-prepared helps you push forward with confidence," she said.

Meanwhile, Jay highlighted the importance of staying focused on solutions, especially when facing challenges.

"Entrepreneurs will always encounter obstacles, whether in product development, customer service, or business growth. The key is to stay focused on your vision and solutions without getting lost in daily struggles," he said. 

-- BERNAMA