
Alliance Bank Releases Malaysia's First SME Business Pitch Film In Conjunction With World MSME Day
Produced around the 2024 Accelerator Edition of Alliance Bank's BizSmart® Challenge, the documentary offers unfiltered, behind-the-scenes access into high-stakes pitches, mentorships, and the journey of Malaysian entrepreneurs in building their businesses under pressure. The Challenge awarded RM550,000 in cash prizes to 13 winners, including BioLoop, Gula Cakery and HiiVolt.
The 2024 programme introduced a new 60-second Elevator Pitch format and received a record-breaking 593 submissions, the highest since its inception in 2013. This year also saw Alliance Bank becoming the first bank in Malaysia to offer SMEs venture capital through partnerships with 1337 Ventures and 5X Capital, beyond its regular financing and grant collaborations with CGC and Cradle's MYStartup.
Streaming the documentary on iQIYI reflects a push to reach new audiences, including students and aspiring entrepreneurs, by showcasing the real-world struggles and triumphs of Malaysian business founders. Related
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The Commerce Department didn't respond to a request for comment. The agency has offered few specifics about its regulatory vision beyond what Secretary Howard Lutnick told lawmakers last month: The US will "allow our allies to buy AI chips, provided they're run by an approved American data center operator, and the cloud that touches that data center is an approved American operator,' he said during congressional testimony. Nvidia, the dominant maker of AI chips, declined to comment, while spokespeople for the Thai and Malaysian governments didn't respond. Nvidia Chief Executive Officer Jensen Huang has previously said there's "no evidence' of AI chip diversion, in general remarks that didn't touch on any particular country. In response to earlier Bloomberg queries about curbs focused on smuggling risks, Thailand said it's awaiting details, while Malaysia's Ministry of Investment, Trade and Industry said clear and consistent policies are essential for the tech sector. Washington officials for years have debated which countries should be able to import American AI chips - and under what conditions. On one hand, the world wants Nvidia hardware, and US policymakers want the world to build AI systems using American technology - before China can offer a compelling alternative. On the other, once those semiconductors leave American and allied shores, US officials worry the chips could somehow make their way to China, or that Chinese AI companies could benefit from remote access to data centers outside the Asian country. Southeast Asia is a key focus. Companies including Oracle Corp. are investing aggressively in data centers in Malaysia, and trade data shows that chip shipments there have surged in recent months. Under pressure from Washington, Malaysian officials have pledged to closely scrutinize those imports, but the Commerce Department's draft rule indicates the US still has concerns. Semiconductor sales to Malaysia also are a focal point of a court case in neighboring Singapore, where prosecutors have charged three men with defrauding customers about the ultimate destination of AI servers - originally shipped from the island nation to Malaysia - that may have contained advanced Nvidia chips. (Nvidia is not the subject of Singapore's investigation and has not been accused of any wrongdoing.) Related: Malaysia Downplays Huawei Deal as US Checks China's AI Reach The export curbs on Malaysia and Thailand would include several measures to ease pressure on companies with significant business operations there, people familiar with the matter said. One provision would allow firms headquartered in the US and a few dozen friendly nations to continue shipping AI chips to both countries, without seeking a license, for a few months after the rule is published, people familiar with the matter said. The license requirements also would still include certain exemptions to prevent supply chain disruptions, the people said. Many semiconductor companies rely on Southeast Asian facilities for crucial manufacturing steps like packaging, the process of encasing chips for use in devices. - Bloomberg