EGAN: Technology and Innovation to Elevate the Forklift Industry
Do you have solutions or ideas to transform and elevate the material handling & industrial lift equipment industry? This industry might seem unattractive for young entrepreneurs due to it's traditional way of operations with most things being conducted manually. However, in Asia alone, the industry is USD16.9 billion. In Malaysia, there's about 130,000 forklifts at an annual growth rate of 6%. Despite this, there has been a slow uptake of technology and innovation in the industry, some of the challenges faced by forklift operators include: a) Under-utilization of forklifts as many forklifts are left idle most of the time b) Difficulty in searching for skilled and well-equipped mechanics for the maintenance of forklifts We are looking for a strategic partner with innovative solutions enabled by technology and digital applications to significantly improve and transform the industry to increase productivity and profitability of forklift operators.
About the challenge
The expected deliverables from successful applicants include:
· Blueprints and Strategies (E.g. web/app to improve forklift optimisation etc.)
· Working prototype that can be piloted in three (3) months
A pilot contract to implement the solution(s) and prove the concept; with a potential investment if successful
Revenue sharing arrangement after successful implementation
Mentorship and coaching from EGAN’s founder - experienced serial entrepreneur and investor
Access to network/market/suppliers/customers : The entire material handling and industrial lift equipment industry in Malaysia
Other non-monetary benefits such as exposure, pioneering a system that will revolutionize an industry, experience, etc.
Criteria / Eligibility
Working prototype: Bonus if you have a prototype to pilot your solutions in THREE (3) months.
Maturity of company: At least ONE (1) year with minimum of two (2) cofounders
Traction: Added advantage if have proven track record of systems developed and currently used in the marketplace
Industry / Functional Experience of Team: Added advantage if have prior experience developing industrial systems. Team of balanced talent
Should be able to pitch face-to-face within a given timeframe
Have professional conduct and high integrity in your dealings with all stakeholder
- Date Start: 01-11-2017
- Date End: 22-12-2017
About Egan Equipment & Parts Sdn Bhd
Established in 2002, EGAN is one of the market leaders in the forklift parts industry. EGAN currently has a clientele base across Malaysia and in 10 different international markets. EGAN is founded by Mr Gan B Pa and Nicholas Gan. EGAN has achieved many industry firsts such as being invited to the prestigious Branding Association of Malaysia, media appearances in Malaysia and Singapore, acceptance into the highly regarded CGP Program by Cradle Malaysia and more. We believe in a company built by the Generation-Y for the Generation-Y who will kickstart the process of revolutionizing the forklift industry