With the advent of the fourth industrial revolution (4th IR), Malaysia which is currently still in the 2nd industrial revolution, has aggressively embraced new technologies gearing up for the future. 

Due to the decreasing number of jobs available for graduate, the Ministry of Education (MOE) has highlighted that innovation and entrepreneurship as the new pathway for young graduates. Innovative products and services invented by the students will be used as the main focal point in generating new graduate entrepreneurs (start-up). Graduates are capable in crafting brilliant and innovative products, however they lack the fund and know how to venture into the real world as an entrepreneur. Thus, as a way to encourage student of venturing into entrepreneurship and innovation, a business competition is proposed.

This business competition named MTDC Business Challenge is an idea from Universiti Teknologi Malaysia, Centre for Student Innovation and Technology Entrepreneurship (UTM XCITE) and designed as a proposed collaboration with Malaysia Technology Development Centre (MTDC) in 2018. This competition is open to local undergraduate students from all Public and Private Institutes of Higher Learning in Malaysia. This year has been the second year for UTM and MTDC running this event.