Alliance Bank, Cradle and Monash Launch Innovation Impact Lab to Accelerate Innovation and Circularity Adoption

Kuala Lumpur, 13 November 2025 - Alliance Bank Malaysia Berhad (“Alliance Bank” or the “Bank”), in collaboration with Cradle Fund Sdn Bhd (“Cradle”) and Monash University Malaysia (“Monash”), has launched the Innovation Impact Lab, Malaysia’s first cross-sector collaboration involving government, academia, and a financial institution. Unveiled at the Cradle LIVE! Startup ASEAN Summit 2025, the Lab marks a strategic move to position Malaysian SMEs at the forefront of the low-carbon and circular economy.

Anchored under Alliance Bank’s Sustainability Impact Programme, the Lab leverages the complementary strengths of all three partners to empower SMEs with the tools and networks needed for sustainable growth:
 

• Alliance Bank integrates its BizSmart® Challenge, a flagship programme that nurtures entrepreneurs through mentorship, exposure, and business acceleration, and offers preferential financing for sustainable, tech-aligned businesses.
• Cradle provides program access, grants funding, and market access through its extensive startup ecosystem.
• Monash brings research capacity, talent development, and design thinking expertise to support solution development and knowledge sharing.

Together, the holistic offering under the lab enables SMEs to validate problem statements, prototype scalable solutions, explore design thinking improvements and access commercialisation support effectively.

Kellee Kam, Group Chief Executive Officer of Alliance Bank, said: “The Innovation Impact Lab is a testament to what’s possible when diverse sectors unite with a shared purpose. Our goal is to support and equip SMEs to lead in a future shaped by sustainability, technology, and collaboration. We believe that when businesses are empowered to innovate responsibly, they become engines of long-term value for the economy and society.”

He added: “At Alliance Bank, we are committed to being The Bank For Life, a partner that grows with our customers and helps them navigate change. This Lab reflects that commitment, offering SMEs a space to test ideas, build solutions, and access the support they need to scale. We’re proud to work alongside Cradle and Monash to help Malaysian businesses thrive in the low-carbon economy.”

Norman Matthieu Vanhaecke, Group Chief Executive Officer of Cradle, said: “Cradle is proud to support impact-driven startups that are shaping the future of business and society. The Innovation Impact Lab demonstrates that innovation is not just for startups—it’s a mindset that must permeate every layer of business, including SMEs. Through collaborations like this between Alliance Bank and Monash, we’re connecting research with real-world solutions, building an ecosystem where innovation is practical, sustainable, inclusive, and truly transformative.”

Monash’s Professor Emeritus Dato' Dr Adeeba Kamarulzaman, President and Pro Vice-Chancellor, noted: "The Innovation Impact Lab reflects Monash’s commitment to translating research and innovation into practical solutions that benefit society. Together with Alliance Bank and Cradle, we are creating a collaborative platform that brings together academia, industry, and government to address real-world sustainability and technology challenges of our region.

Through this partnership, Monash will contribute research expertise, student talent, and knowledge-sharing to support SMEs and startups in testing, validating, and scaling their solutions. The Lab will also help build a stronger innovation ecosystem through capacity building and the documentation of success stories to guide practice and policy. This initiative truly exemplifies how triple helix collaboration can accelerate sustainable progress."

The next milestone for the Lab will be a stakeholder roundtable at Monash, convening technology innovators, circular economy solution providers, corporates with real business challenges, government agencies, and academia to collaboratively identify priority areas for Malaysian SMEs.

The Lab will also produce sectoral playbooks and ESG-driven white papers to guide SMEs on proven pathways for growth and impact. These efforts will shape the next wave of SME innovation, ensuring Malaysian businesses are equipped to lead in a sustainable future.

Earlier this year, Alliance Bank’s ESG 2.0 Report noted that ESG awareness among SMEs has surged from 14% to 80% in two years, with adoption rising from 28% to 60%. The Lab is a timely and strategic platform designed to help SMEs test and refine tech-driven, commercially viable solutions that address real-world challenges, particularly in sustainability, waste management, and circularity.

For more information about the Bank’s Sustainability Impact Programme, please visit: https://www.alliancebank.com.my/about-us/Sustainability/Solutions/Sustainability-Impact-Programme.