TL;DR – Have the key takeaways from Let’s Jam at GEM, Opportunities and Challenges in Green Technology.
“Green is going to be big in the future”, Jamaludin Bujang, the CEO of Malaysia Venture Capital Management Bhd (MavCap) says and with that, we kick off yet another session of Let’s Jam with GEM. This time, the panel covered a new area of entrepreneurship which is Green Technology.
Mr Bujang then went on to say that technology is constantly evolving and this changes the way we do things, including how energy is supplied. Solar panels which bear witness to a downward trend of global prices may even be provided for free or minimal fees in the future.
Among the panelists, Mohd Azrin of TNB Energy Services Sdn Bhd shares how they are a subsidiary of the main TNB firm with a focus on energy efficiency and Electric Vehicles. With a growing focus on transportation based on renewable energy, entrepreneurs who pivot to accommodate the expanding market would likely find success.
One such entrepreneur is Raymond Cheah who is currently Green Lagoon Sdn Bhd’s COO, a company which focuses on converting methane gas into renewable energy by which is a twofold green venture as it not only generates renewable energy but also removes methane gas from the atmosphere.
The main challenge of green technology is to bank in on its marketability, as Maya Karin stresses. The actress who has been strongly advocating green technology since 2006 pointed out that it is the mentality of the people that needs to change in time with technology that continues to make renewable energy sources more affordable.
However, the Malaysian government has been taking a proactive step in promoting green technology and it would be wise for an entrepreneur to jump on the bandwagon together with other global green advocates such as Tesla and Dyson. With the government aiming for aggressive targets such as 11% of the nation’s electric supply must come from renewable resources and 45% carbon emission by 2020, green technology is sure to gain traction soon.
Participating in the session as well were UiTM Holdings Sdn Bhd’s YBhg. Dato’ Chairil Nazri Ahmad and Dr Renard Siew, Curator of Global Shapers Kuala Lumpur. All panellists agreed that while green technology is growing locally and governmental support has been positive, converting the masses to green technology remains necessary to sell green technology. Budding entrepreneurs wishing to cash in on the wave of renewable innovation must bear in mind that the biggest factor is market acceptance by consumers.
Afterall, how can we sell green technology without consumers who are willing and able to purchase it?