How did Innov8tif transform from a bootstrapped startup to serving 70% of Malaysia’s telecommunications and banking sectors? In this episode of Open For Business, we speak with George Lee, Founder and CEO of Innov8tif Solutions, about the company’s journey, their groundbreaking innovations like IC microprint verification, and the announced RM40 million strategic partnership with Datasonic Group.



George has been nominated for the EY Entrepreneur of the Year 2024 Malaysia awards in the Technology Entrepreneur Category.



George shares insights into the challenges of scaling a tech business, the evolving eKYC landscape, and Innov8tif’s plans to expand regionally while maintaining its leadership in secure digital onboarding. 



Among other things, we get into:

- Entrepreneurial Journey: How George Lee and his co-founder started Innov8tif with RM60K, and how they moved from software development and consultancy and into  the eKYC business.

- Innovation in eKYC: Innov8tif’s patented solutions, such as IC microprint verification, and their impact on secure digital onboarding.

- Market Leadership: Serving 70% of Malaysia’s telco and banking sectors and the strategies behind maintaining this dominant position.

- Strategic Acquisition: Insights into Datasonic Group’s RM40 million acquisition and how it will drive Innov8tif’s growth and innovation, as well as advice on strategic partnerships.

How did Innov8tif transform from a bootstrapped startup to serving 70% of Malaysia’s telecommunications and banking sectors? In this episode of Open For Business, we speak with George Lee, Founder and CEO of Innov8tif Solutions, about the company’s journey, their groundbreaking innovations like IC microprint verification, and the announced RM40 million strategic partnership with Datasonic Group.George has been nominated for the EY Entrepreneur of the Year 2024 Malaysia awards in the Technology Entrepreneur Category.George shares insights into the challenges of scaling a tech business, the evolving eKYC landscape, and Innov8tif’s plans to expand regionally while maintaining its leadership in secure digital onboarding. Among other things, we get into:- Entrepreneurial Journey: How George Lee and his co-founder started Innov8tif with RM60K, and how they moved from software development and consultancy and into the eKYC business.- Innovation in eKYC: Innov8tif’s patented solutions, such as IC microprint verification, and their impact on secure digital onboarding.- Market Leadership: Serving 70% of Malaysia’s telco and banking sectors and the strategies behind maintaining this dominant position.- Strategic Acquisition: Insights into Datasonic Group’s RM40 million acquisition and how it will drive Innov8tif’s growth and innovation, as well as advice on strategic partnerships.

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Open For Business

Discover fresh concepts, tackle obstacles, and unleash growth - Open For Business is the dynamic show where BFM engages with entrepreneurs, business leaders, and industry trailblazers, igniting inspiration, sparking success, and exploring new business models.

From RM60K to eKYC Leader: The Innov8tif Journey

Fast fashion might be trendy, but who says tradition can’t be trendy? In this episode, we speak with Jeffery Goh, the founder and designer of Inisaya, the brand that is reimagining the traditional Malaysian batik into modern-wear. With their commitment to local craftsmanship and sustainability, Inisaya celebrates individuality and cultural pride through their fusion of heritage and contemporary aesthetics. Today, Jeffery shares with us his journey, the inspiration behind Inisaya, and his vision for modernising tradition.

Fast fashion might be trendy, but who says tradition can’t be trendy? In this episode, we speak with Jeffery Goh, the founder and designer of Inisaya, the brand that is reimagining the traditional Malaysian batik into modern-wear. With their commitment to local craftsmanship and sustainability, Inisaya celebrates individuality and cultural pride through their fusion of heritage and contemporary aesthetics. Today, Jeffery shares with us his journey, the inspiration behind Inisaya, and his vision for modernising tradition.

From Trad to Rad: Modernising the Malaysian Batik

From trading rubber gloves to manufacturing eco-friendly cleaning products, Yeo Eng Foo, Founder of ReadyCare Signature, shares how his Malaysian brand has grown to offer USDA-certified, halal, and vegan bio-based cleaning solutions across multiple ASEAN markets. In this episode of Open for Business, we explore ReadyCare’s origins, its innovative R&D process, and plans for expansion—all while staying committed to sustainability.



Here are some key highlights from the conversation:

- Yeo Eng Foo started his career trading rubber gloves and personal care products, supplying to major clients like Walmart. This experience highlighted global demand for sustainable products and inspired him to transition into bio-based cleaning solutions.



- The idea for ReadyCare emerged in 2016 when Walmart requested recyclable packaging for gloves. Unable to find local suppliers, Yeo identified a gap in the market for eco-friendly products and started researching bio-based cleaning solutions.



- With no chemistry or manufacturing background, Yeo took a leap of faith, investing over RM1 million in machinery before even finalising product formulas. He built an in-house R&D team to develop stable, plant-based cleaning solutions tailored to market needs.



- ReadyCare offers USDA bio-based, halal-certified, vegan-friendly, and MyHijau-certified products. Its lineup includes star items like bio-based dishwashing liquid, laundry detergent, and the region’s first USDA-certified toilet bowl cleaner.



- ReadyCare designs products specifically for regional needs, such as dishwashing liquids effective against greasy Asian cuisine. Their R&D ensures products are eco-friendly without compromising cleaning performance or safety.



- Initially faced with scepticism about product effectiveness, ReadyCare built trust by offering free samples and demonstrating tangible benefits like gentler effects on skin and effective grease removal.



- In just three years, ReadyCare Signature achieved seven-figure annual revenues. The brand also exports to Japan, Thailand, and the Philippines, with Singapore and Indonesia launches in progress.



- Yeo’s plans include scaling up through refillable vending machines to reduce plastic waste and expanding into untapped markets. He envisions ReadyCare becoming a global leader in bio-based cleaning solutions with eventual plans for an IPO to fuel growth.

From trading rubber gloves to manufacturing eco-friendly cleaning products, Yeo Eng Foo, Founder of ReadyCare Signature, shares how his Malaysian brand has grown to offer USDA-certified, halal, and vegan bio-based cleaning solutions across multiple ASEAN markets. In this episode of Open for Business, we explore ReadyCare’s origins, its innovative R&amp;D process, and plans for expansion—all while staying committed to sustainability.Here are some key highlights from the conversation:- Yeo Eng Foo started his career trading rubber gloves and personal care products, supplying to major clients like Walmart. This experience highlighted global demand for sustainable products and inspired him to transition into bio-based cleaning solutions.- The idea for ReadyCare emerged in 2016 when Walmart requested recyclable packaging for gloves. Unable to find local suppliers, Yeo identified a gap in the market for eco-friendly products and started researching bio-based cleaning solutions.- With no chemistry or manufacturing background, Yeo took a leap of faith, investing over RM1 million in machinery before even finalising product formulas. He built an in-house R&amp;D team to develop stable, plant-based cleaning solutions tailored to market needs.- ReadyCare offers USDA bio-based, halal-certified, vegan-friendly, and MyHijau-certified products. Its lineup includes star items like bio-based dishwashing liquid, laundry detergent, and the region’s first USDA-certified toilet bowl cleaner.- ReadyCare designs products specifically for regional needs, such as dishwashing liquids effective against greasy Asian cuisine. Their R&amp;D ensures products are eco-friendly without compromising cleaning performance or safety.- Initially faced with scepticism about product effectiveness, ReadyCare built trust by offering free samples and demonstrating tangible benefits like gentler effects on skin and effective grease removal.- In just three years, ReadyCare Signature achieved seven-figure annual revenues. The brand also exports to Japan, Thailand, and the Philippines, with Singapore and Indonesia launches in progress.- Yeo’s plans include scaling up through refillable vending machines to reduce plastic waste and expanding into untapped markets. He envisions ReadyCare becoming a global leader in bio-based cleaning solutions with eventual plans for an IPO to fuel growth.

Why This Glove Trader Is Now Making Green Cleaning Products

From a one-off project supplying workstations to a RM75 million acquisition, Wilstech’s journey is one of growth, adaptation, and strategic decisions. In this episode of Open For Business, Wilson Low, Founder and CEO of Wilstech, shares how the Malaysian B2B IT solutions provider scaled from a RM100,000 family loan to achieving RM23 million in revenue in 2023. We dive into its acquisition by Systech Bhd, lessons from the journey, and the road ahead.



Here are some key highlights from the conversation:

- Wilstech’s Origins: Wilson Low launched Wilstech in 2018 with a RM100,000 family loan, starting with a single project supplying workstations to the government.

- A Shift to Digital Solutions: Initially focused on hardware, the company pivoted to digital solutions like mobile apps, software development, and business automation systems to address the digitalization needs of Malaysian SMEs.

- Star Products Driving Growth: Wilstech’s offerings include the WilsONE Business Automation System and eMOBIQ, a no-code app platform that empowers SMEs to streamline operations efficiently and affordably.

- Revenue Milestones: Wilstech achieved RM23 million in revenue in 2023 and RM14 million in just the first six months of 2024, driven by both SME solutions and government tenders.

- Strategic Acquisition: Earlier this year, Systech Bhd acquired Wilstech for RM75 million in a cash-and-stock deal, marking a major milestone and offering synergies like enhanced resources, funding, and government connections.

- Meeting Growth Challenges: Wilson highlighted the challenges of early sales, scaling the business, and navigating M&A decisions, including choosing an acquisition over pursuing an IPO.

- Future Ambitions: With an obligation to meet a RM5 million profit guarantee for FY2024, Wilstech is eyeing expansion into AI, big data, and smart city solutions, all while staying focused on its SME customer base.

- Long-Term Vision: Wilson envisions Wilstech potentially spinning off as an independent entity within the Systech group, with ambitions to establish itself as a leader in SME-focused innovations.

From a one-off project supplying workstations to a RM75 million acquisition, Wilstech’s journey is one of growth, adaptation, and strategic decisions. In this episode of Open For Business, Wilson Low, Founder and CEO of Wilstech, shares how the Malaysian B2B IT solutions provider scaled from a RM100,000 family loan to achieving RM23 million in revenue in 2023. We dive into its acquisition by Systech Bhd, lessons from the journey, and the road ahead.Here are some key highlights from the conversation:- Wilstech’s Origins: Wilson Low launched Wilstech in 2018 with a RM100,000 family loan, starting with a single project supplying workstations to the government.- A Shift to Digital Solutions: Initially focused on hardware, the company pivoted to digital solutions like mobile apps, software development, and business automation systems to address the digitalization needs of Malaysian SMEs.- Star Products Driving Growth: Wilstech’s offerings include the WilsONE Business Automation System and eMOBIQ, a no-code app platform that empowers SMEs to streamline operations efficiently and affordably.- Revenue Milestones: Wilstech achieved RM23 million in revenue in 2023 and RM14 million in just the first six months of 2024, driven by both SME solutions and government tenders.- Strategic Acquisition: Earlier this year, Systech Bhd acquired Wilstech for RM75 million in a cash-and-stock deal, marking a major milestone and offering synergies like enhanced resources, funding, and government connections.- Meeting Growth Challenges: Wilson highlighted the challenges of early sales, scaling the business, and navigating M&amp;A decisions, including choosing an acquisition over pursuing an IPO.- Future Ambitions: With an obligation to meet a RM5 million profit guarantee for FY2024, Wilstech is eyeing expansion into AI, big data, and smart city solutions, all while staying focused on its SME customer base.- Long-Term Vision: Wilson envisions Wilstech potentially spinning off as an independent entity within the Systech group, with ambitions to establish itself as a leader in SME-focused innovations.

From RM60K to eKYC Leader: The Innov8tif Journey

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