THE National Solid Waste Management Department estimated that each Malaysian generates 1.17kg of waste daily. This amounts to over 427kg of waste a year per person. With a population close to 33 million Malaysians, this translates to roughly 14 million tonnes of waste generated annually. 90% of the waste is directed to landfills; only 10.5% are recycled.
Ineffective waste management is harmful to the environment, contributing to air pollution, biodiversity erosion, soil and water contamination, and climate change. Landfills produce two of the most prevalent greenhouse gases contributing to climate change – methane and carbon dioxide. Methane is produced due to the microorganisms present in the biodegradable waste. At the same time, carbon dioxide is emitted mainly during disposal in landfills.
Waste presents both direct and indirect impact on the environment. Images of sea life dying from plastic ingestion and sea birds snared by masks have made the rounds on the internet and social media. It generated concerned conversations and mobilised well-meaning (albeit sporadic) actions. However, what would it take to sustainably mitigate and reverse the scourge of unbridled waste?
The waste hierarchy prescribes various methods to manage waste including reducing, reusing, repairing and recycling. Apart from being able to rehabilitate our ecology, waste management presents social business opportunities that could be commercially compelling.
This year, Alliance Bank EcoBiz Challenge 4 aims to push the envelope on applying commercial solutions to address the waste problem. The initiative will challenge tertiary students in Malaysia to create awareness and advocate a zero-waste mindset such as minimising food and fabric waste, with sustainable commercialisation of innovative waste management solutions as the ultimate goal.
The EcoBiz Challenge was incepted in 2016 as a platform for tertiary students to innovate and develop business solutions that promote environmental, economic and social sustainability. The challenge nurtures eco-entrepreneurial mindsets among participants and equips them to develop impact-driven enterprise solutions where environmental and social dimensions form the core focus. To date, the challenge has reached out to more than 5,000 students and garnered over 600 submissions from 157 universities across Malaysia.
This year’s EcoBiz Challenge 4 sees 16 teams test their mettle as eco-entrepreneurs. These teams from 11 universities are currently undergoing a 20-week comprehensive learning programme Jana Graduan Usahawan Hijau (JaGUH), which is developed and run by Malaysian Green Technology and Climate Change Corporation (MGTC). MGTC continues its long-running partnership with Alliance Bank on the EcoBiz Challenge.
The JaGUH syllabus covers technology and innovation mindset, personal development, social business, digital and social commerce, entrepreneurship, and community development. Students are supported throughout the various stages of the challenge including helping them design a robust business model and pitch their ideas to potential investors and to sustainable business experts.
The first challenge will see the shortlisted teams presenting their business model to a panel of judges consisting of representatives from Biji-Biji Initiative, EcoKnights, Zero Waste Malaysia, Youth Trust Foundation and Alliance Bank. Subsequently, the 16 teams will pitch their ideas to financiers comprising Global Sadaqah, Tekun, and Alliance Bank’s own social crowdfunding platform SocioBiz.
At the final stage, the top 10 winners will be shortlisted and will be entitled to prizes and rewards. The winning team will take home RM10,000 cash, while the first and second runners-up will walk away with RM5,000 and RM3,000, respectively. Seven other teams will receive RM1,500 each. The winners will also continue to be mentored and coached, and their business progress tracked for six months thereafter to ensure that they remain in good stead for further growth.
Alliance Bank EcoBiz Challenge is an ongoing environmental-themed competition in which tertiary students develop sound and sustainable business solutions to address environmental, economic and social issues.
