Touch N Go Ewallet Announces Winners Of Young Entrepreneurship Challenge 2022

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The grand prize winners receive RM10,000 Touch ‘n Go eWallet credit and all the grand finalists get an opportunity to work with Malaysia’s No.1 eWallet company

YEC 2022 Grand Prize Winner
Touch ‘n Go eWallet recently announced the winners of their Young Entrepreneurship Challenge 2022 following the Grand Finals held at TNG Digital Sdn Bhd’s office in Bangsar South.

The Young Entrepreneurship Challenge 2022 provides students with a platform to experience, innovate and foster their entrepreneurial skills within the eWallet industry. A total of 93 individuals and 88 teams, through a collective total of 256 presentation decks, shared their most innovative ideas on how Touch ‘n Go eWallet could continue to increase enjoyment while encouraging continuous usage of the eWallet among Malaysians. The objective of the challenge was to encourage students to showcase their inspirations for Touch ‘n Go eWallet as the go-to cashless payment of choice in Malaysia.

5 teams comprising a total of 18 students were selected to proceed to the Grand Finals. Most of the participants were students from local public and private universities. The challenge has also received participation from Malaysian students studying overseas, from Singapore, China, and Hong Kong. The top 5 ideas that made it to the finals were from Team MOP, Team Leh Go, Team Imagine Fantasy, and Team Touch ‘n Glow.

“We received overwhelming response to the Challenge with the participants being students from local and international universities. Most of them presented such great innovative ideas and it made our job a bit harder during evaluation. We appreciate their enthusiasm in pitching their creative ideas as it motivates and inspires Touch ‘n Go eWallet to strive to do better than before,” said Alan Ni, CEO of TNG Digital Sdn Bhd.

The grand prize went to Team Leh Go from Sunway University with their GoShare idea of a shared wallet system that offers split bills, manages finances, and tracks expenses. The team received RM10,000 Touch ‘n Go eWallet credit and a RM1,000 KLOOK voucher for each member. Team Imagine Fantasy, comprising students from Universiti Malaya and Universiti Tun Hussein Onn, won second prize, with the idea of GOCity. The team received RM8,000 Touch ‘n Go eWallet credit and a RM1,000 KLOOK voucher for each member. For their GOsave idea, Team MOP, comprising students from National University of Singapore, University of Nottingham Malaysia and Nanyang Technological University, placed 3rd, and received RM5,000 Touch ‘n Go eWallet credit and a RM1,000 KLOOK voucher for each member.

Other finalists also received prizes as a reward for their submission and participation in the challenge. The top 4 and 5 finalists received RM2,000 Touch ‘n Go eWallet credit and RM1,000 KLOOK voucher for each member, while the top 6 to 10 finalists received RM1,000 Touch ‘n Go eWallet credit and RM800 KLOOK voucher for each member.

Participation in the Young Entrepreneurship Challenge 2022 has encouraged and expanded the students’ thinking abilities in generating innovative solutions to problem statements. It has also helped them to develop interest in entrepreneurship. Commenting on the participants’ demanding and competitive journey to winning the challenge, Alan said, “The finalists went through a series of challenging requirements to refine business aspects, including their business model, value proposition, and pitching. Our heartiest congratulations to all the winners! We truly appreciate their painstaking efforts in submitting and sharing their ideas with us. We are excited about making the winners’ ideas a reality in the future.”

Besides winning the challenge, the 18 grand finalists also received an open job offer to join TNG Digital Sdn Bhd upon graduation.

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