IHL-MSC Malaysia Startup Challenge (i-MSC)
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IHL-MSC Malaysia Start-up Challenge (i-MSC) was previously known as the MSC Malaysia-IHL Business Plan Competition (MIBPC). In this 11th cycle, the competition has taken a new approach to scale up and attract more students to participate in this competition by broaden the requirements of participation and have a more hands-on experience before and after the submission.
The i-MSC provides an attractive avenue or platform for students to gain hands-on experience in applying innovative thinking methods to solve real problems for real customers; and at the same time acquire knowledge and skills on entrepreneurship.
Students who are interested to explore entrepreneurship and have innovative ideas can be identified through this competition and their potential will be further groomed to be able to accelerate to become SME start-ups.
The competition aims to achieve the following objectives:-
- To emphasize the importance of entrepreneurial skill as required by industry
- To raise the standard of idea generation, innovative thinking, problem solving and business pitching skills through coaching by industry
- To identify commercially viable ideas & R&D projects with Intellectual Property potential for their development into ICT SMEs
- To provide a platform for experiential exposure & knowledge of key competencies required in becoming a successful entrepreneur.
- Grow a sustainable entrepreneurship skills development eco-system connecting students with industry network.
i-MSC Competition Format & Timeline
The Competition is divided into the following categories:-
Degree category :
- Open to undergraduate, postgraduate students only.
- Open to Higher Diploma, Diploma, Foundation students only.
The following team composition and rules must be adhered to by both categories of competition:-
- Entries must be the original work of students.
- Content for all submissions must be written in English.
- 70% of the team member must be Malaysian.
- Team member & advisor
- Maximum of 4 members per team.
- Maximum 1 advisor from IHL
- Maximum 1 advisor from industry/Alumni
The Competition is divided into three round namely the Ideation & Screening Round, Experiential & Coaching Round and Bootcamp & Pitching Round. Table 6.1 depicts the general Competition Format and Timeline:-
MBPC / i-MSC Success Stories
The competition has generated notable success stories such as:-
MSC Malaysia IHL Business Plan Competition 2006/2007
Business Idea Champion
Team MYOBT - Universiti Sains Malaysia
- Ooi Boon Sheng
Project: It is an on-demand retail business solution on a subscription-based model streamed over the Internet. The solution works both online and offline. The team received the MSC Malaysia Technopreneur Pre-Seed Fund, which helped them set-up Web Bytes Sdn Bhd, based in Penang. They rolled out their product, Xilnex Software, six months ago and have clients in Malaysia, Singapore and Australia. The team has received the CIP500 grant from Cradle Fund Sdn. Bhd. and nominated as the overall winner for the MAD Techventures 2010.
“It has always been my dream as a techie to work something out for the software industry. It was a chance for us to try out the ideas in our mind and to test its feasibility. Winning the competition gave us the confidence to go forward with our idea and gave us the credibility to apply for the grant that kick-started our business.”
MIBPC 2009/2010 Business Idea Category – 2nd Prize Winner
University: Universiti Malaysia Pahang
Team Name: Medialab Studio
- Muhammad Muhaimin Juhari – Bachelor of Software Engineering
- Muhammad Khalis Yalah – Bachelor of Software Engineering
- Mohd Zuhairi Saidin – Bachelor of Software Engineering
Project: ECO-Bumi is an edutainment game with a theme of ecosystem preservation to educate kindergarten level children.
“Following MIBPC, we formed a company named Media Lab Studio, focusing on content development for games and multimedia development. Currently we are still working on our main product Ecobumi, and successfully obtained the MSC Malaysia Icon Edu grant from MDeC. We also received small projects from clients such as Universiti Malaysia Pahang. MIBPC has inspired us to become Technopreneurs and has opened up the path for us to pursue our dreams in games and multimedia development.”
MIBPC 2009/2010 Business Plan Category - 2nd Prize Winner
University : Multimedia University (MMU)
Team Name: Soft-Inn
Team Members: Lee Jee Shen, Caren Thee Dee Teng
Project: Hotel Business Solution Suite (HBS2) – An integrated hotel management system that links the hotel’s website, room reservation system, point-of-sales (POS) system, property management system, accounting and reporting system and digital room security system in one platform.
“MIBPC is our stepping stone to entrepreneurship. We started www.mySoftInn.com after the competition and within a year, we completed phase one of our Hotel Management System. Our customers include www.hotelweilia.com, www.selectstar.com.my and Tropicana Hotel Melaka.
We are currently revamping our business model, targeting small businesses and “blog shoppers” by empowering them with easy to use, cloud-based application tools. New incoming projects include www.intoxicaketed.com (a bakery from Singapore) and www.stark.tw (a bicycle manufacturer from Taiwan).”
MSC Malaysia IHL Business Plan Competition
MSC Malaysia IHL Business Plan Competition (I-MSC) 2015