KIIC 2023’s top three winners (from left) Braintree Technologies, Kapitani and Ultimeat receiving grants to realise their climate change-inspired business plans.
Some 15 finalists representing impactful Malaysian businesses pitched for potential equity investments and debt funding from Khazanah and its funding partners in the Khazanah Impact Innovation Challenge (KIIC) 2023 Demo Day.
This was in their quest to deliver innovative solutions to climate change challenges for food security in Malaysia.
Three winners were selected by KIIC 2023’s panel of judges for having the most innovative and unique solutions with measurable impact, operating on a sustainable business model and offering solutions that are relevant to Malaysia.
The top three – Braintree Technologies, Ultimeat and Kapitani – were awarded grants of RM500,000 each to realise their business plans.
The other 12 finalists stand to receive grants ranging between RM150,000 and RM400,000 each.
Braintree Technologies chief executive officer Arif Makhdzir said, “Our plan is to speed up our robot commercialisation plan and scale up our production with the RM500,000 grant.
“Climate change has brought unprecedented production uncertainty to farmers as they can no longer rely on their usual crop cycle pattern.
“The uncertainty in the crop calendar also causes uncertainty in the farm workforce.
“Our robots are flexible, versatile workers that can do multiple types of work and help farmers deal with the uncertainty.”
Ultimeat chief executive officer Edwin Lee said, “With the RM500,000 grant, we plan to amplify our community engagement efforts, ensuring Malaysians are well-informed about our distinctive products.
“Given the pressing challenges of climate change and its implications on food security, Ultimeat’s innovative technology provides a sustainable solution by producing proteins in just seven days, mitigating environmental impacts.”
Kapitani co-founder Mohd Nazrul Hazeri said, “This award confirms our goal and highlights our farmers’ strength and dedication.
“We want to use this opportunity to support them more and do better. Thank you for this award, and we hope to keep helping our farmers and our food system.
“We will use the RM500,000 grant to speed up our projects in two states and hire more talent. We will also test our financing solutions for farmers. We want to pay them faster and easier.”
Three other selected tech-based startups – Entomal, Hydroemission and Kairos – each received RM10,000 as recipients of Partner Selection Award sponsored by Cradle Fund’s MYStartup, as motivation to further develop their businesses.
Cognisant of the urgent need for a more sustainable future, Partner Selection Award recognises top innovators tackling climate change for Malaysia’s food security.
Khazanah managing director Datuk Amirul Feisal Wan Zahir said, “Through KIIC 2023, we hope to channel the necessary support and capital for the application of innovative and sustainable solutions to address the issue of food security while driving socio-economic resilience and growth potential for the country, in tandem with our Advancing Malaysia strategy.
“The dedication and ingenuity of these startups will not only improve the agrifood landscape but potentially support countless households.
“As we confront rising inflation, global uncertainties and challenges posed by climate change, the innovative solutions pioneered today will become the source of resilience for consumers and the nation.”
Launched on July 25, KIIC 2023 called for submissions from Malaysian businesses that have developed innovative and commercially viable solutions to address challenges posed by climate change on food security.
More than 160 applications were received.
KIIC 2023 is organised by Khazanah in partnership with its programme partner Plug and Play APAC, outreach partners Impact Circle and MYStartup, and funding partners Gobi Partners, 500 Global and Agrobank.
For details, visit www.khazanah.com.my/kiic
