The FIKRA ACE - Accelerator is a platform for fintech companies to develop innovative solutions that may contribute to the advancement of the Islamic finance, particularly Islamic capital market - through a structured six (6) to eight (8) weeks accelerator programme.
  • Value propositions
    Business matching opportunities with Industry partners
    • Selected participants will have the opportunity to test out solutions with industry partners and potential embark into commercial arrangement upon successful POC/MVP

    Last mile connections to scale business to a higher stage
    • Selected participants will receive access to support from collaborative partners through structured programmes for market access, visibility, funding facilitation and professional development

    Ecosystem development and connectivity
    • Participants will be included in a network of relevant stakeholders in the Islamic fintech space through FIKRA Circle - an alliance of fintech community to discuss further developments and issues in the industry and to explore opportunities for business matching and expansion

    Consultation and potential facilitation by regulators
    • Participants will have the opportunity to engage with the SC and SC's Shariah Advisory Committee for feedbacks on area of solution development, regulatory requirements or other relevant matters pertaining fintech in the capital market industry.
  • Theme
    For Cohort 2024, the SC seeks start-ups with potential solutions and ideas that may contribute to Islamic capital market in the following areas (but not limited to):
    • New ICM Offerings: New ideas, products or services uniquely developed for ICM. We hope to see tech-based fintech ideas and solutions that can deliver the value propositions of Islamic finance in its offerings.
    • Enhance ICM products & services: Fintech ideas and solutions that can democratise the market with innovative products or services that will enhance accessibility and provide greater inclusivity into the ICM. We seek for tech-based ideas or solutions that can strengthen the role of ICM and improve delivery and accessibility of ICM products and services to wider market participants.
    • Digital adoption: Fintech solutions that facilitate or enhance digital adoption among ICM industry market players.
  • Who Should Apply
    • Individuals or startups with an innovative idea for solutions embedded/empowered by technology i.e. AI, blockchain, Web3, tokenization, regtech, suptech, etc.
    • Ideation stage to startups already in the market for less than 3 years.
    • In the verticals of fintech or adjacent verticals.
    • Have the in-house capability to make the necessary adjustments to the product/service during or after the programme.
    • Able to commit to a six (6) to eight (8) weeks flexible programme with attendance to sessions each week.
  • Prize & Benefits
    Business matching opportunities with selected industry partners
    Opportunity to connect to industry mentors, investors and relevant players in the Islamic fintech space
    Enhance business model and access to scale up support through structured programmes
    Cash prize for top finalists
    Finalist to showcase solutions at Demo Day to a panel of Judges and potential investors
  • Timeline
    • Application Period: 10 - 31 July 2024
    • Accelerator Programme: Starts in August 2024
    • Demo Day: October 2024

general inquiry on FIKRA ACE - Accelerator

application form

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