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NESCAFÉ Business Case Challenge Sparks Next-Gen Coffee Innovation
Petaling Jaya, November 20, 2024 - Reflecting its dedication to empower young Malaysians with opportunities to succeed, in July this year, NESCAFÉ launched an ambitious innovation challenge that saw university students from across the nation reimagining the future of coffee. Marking the conclusion of the challenge, these young innovators gathered to showcase their creativity and business-savvy at the grand finale of the Nestlé Youth Innovators Programme (NYIP) 2024, held at Nestlé Malaysia’s Headquarters recently.
Inspiring Malaysian students to reimagine the future of coffee at the Nestlé Youth Innovators Programme (NYIP) Grand Finale!
The programme builds upon the success of the NESCAFÉ Youth Entrepreneurship Programme (NYEP) established in 2016, which started with providing practical day-to-day café management operations and experience for students. This year, the challenge was taken up a notch in the form of a business case challenge with 10 partnering universities, fostering creativity, collaboration and problem-solving skills.
Juan Aranols, Chief Executive Officer of Nestlé Malaysia and Singapore, said, “We are committed to continue equipping Malaysian youth with relevant skills and capabilities. More than just a competition, NYIP is a catalyst for innovation and youth empowerment – fostering entrepreneurial thinking and challenging these bright young minds to reimagine the future of coffee.”
Juan Aranols, CEO of Nestlé Malaysia [far left], presenting the winning team from Multimedia University with the NYIP Grand Prize for their outstanding pitch!
The NYIP challenge invited students to develop innovative strategies to recruit more youths into the NESCAFÉ brand and increase coffee consumption amongst youths. The challenge resonated strongly with Malaysia's young innovators, attracting 450 participants from 10 partnering universities nationwide. Following a rigorous assessment process, 22 teams were shortlisted to pitch their solutions. The journey culminated in the NYIP Grand Finale, where eight finalist teams competed for attractive cash prizes worth a total of RM32,000.
A participant in NYIP's Grand Finale delivering her team’s innovative pitch for the NESCAFÉ Business Case Challenge.
To foster participants' growth throughout their journey, all finalists were given mentorship opportunities with Nestlé Malaysia's marketing experts across various business divisions. This mentorship experience provided students with invaluable insights into business strategy, innovation and market analysis, helping them refine their proposals and develop practical business acumen. Using their fresh perspectives and understanding of youth culture, innovative solutions ranging from new product concepts to digital engagement strategies were presented.
Raef Labaki, Nestlé Business Executive Officer of Coffee, expressed his appreciation for the teams’ enthusiasm and commitment to the 5-months long challenge, stating, “We were thrilled to witness the teams’ passion for the challenge. Their next-gen coffee concepts demonstrated not only creativity but also provided fresh insights into the coffee industry from a youthful lens. It was inspiring to see such innovative ideas and the enthusiasm with which they were presented.”
Raef Labaki, Business Executive Officer of Coffee, Nestlé Malaysia, assessing one of the presentations at the Grand Finale of NYIP.
At the Grand Finale, the finalist teams’ proposals underwent thorough evaluation for feasibility, veracity and potential impact of their idea pitches based on the business case put forth. The team from Multimedia University (MMU) emerged victorious, winning the grand prize of RM15,000 in cash. Meanwhile, one team from Monash University and a team from Universiti Malaya won 1st and 2nd Runner Up, receiving cash prizes of RM10,000 and RM7,000 respectively.
Adrian Tan, representing the winning team from MMU, said, “Joining NYIP and being crowned champions is a tremendous honour for us. The invaluable insights and mentorship from Nestlé helped us in refining our pitch leading up to the grand finale. Our team believes that our ability to dissect and address the problem statement with our idea provided us with the winning edge. We’re extremely ecstatic about our triumphant win!”
Nestlé’s commitment to youth empowerment through initiatives such as Nestlé Needs YOUth and NYEP continues to create meaningful impact on the younger generation. Through skill-building programmes and active youth engagement, Nestlé Malaysia demonstrates its commitment to nurturing the next generation of business leaders and innovators.
About Nestlé Malaysia: Nourishing Malaysians for Over a Century
Since 1912, Nestlé has been nourishing Malaysians and earning their trust through our quality brands and products. We take pride in our role as a responsible corporate citizen, striving to improve the communities in which we operate. Today, we operate six factories, employing over 5,000 Malaysians. All our products are Halal, making us the largest Halal manufacturer for Nestlé globally.
As the world's largest food and beverage manufacturer, with our headquarters based in Switzerland, Nestlé operates in over 180 countries. With a workforce of over 270,000 dedicated employees, we are driven by our purpose to unlock the power of food, enhancing the quality of life for everyone, both today and for future generations. Our commitment to nutrition, health, and wellness guides our performance, ensuring we deliver on our promise of GOOD FOOD, GOOD LIFE.
To discover more about our century-long journey of nourishing Malaysians, please visit our website at https://www.nestle.com.my/ask-nestle/we-are-nestle.
For more information, please contact:
Shaheen Zaffar
Nestlé (Malaysia) Berhad
Tel: (+603) 7965 6456
E-mail: [email protected]
Anis Farisha or Yasmin Kadir
acorn communications
Tel: (+603) 7958 8348
E-mail: [email protected]