The UNCDF, in cooperation with Bank Negara Malaysia and MDEC, has launched the Financial Innovation Lab and it is calling all for applications until 20 January 2019.
The Financial Innovation Lab is looking for solutions and models that aim to disrupt the market and address the needs of different customer segments. These are basically ideas that could drive usage of financial services beyond access to bank accounts and address use-case/need at the customer level.
It is providing:
- Grant support ranging between USD10,000 to USD100,000
- Introductions to, and facilitation for funding to scale
- Tailored support to develop, refine, and put solutions to market
- Commercial engagements with Malaysian financial and non-financial institutions to test and scale solutions
- Support for testing of solutions through a live environment with access to infrastructure, customer, data and more
- Introduction to, and guidance from global subject matter experts/mentors, UNCDF, Bank Negara Malaysia, MDEC, financial and non-financial institutions in Malaysia and globally
- Access to a global network of enablers that includes some of the world’s most renowned brands in deploying solutions and scaling to market
- Invitation to participate in global network events
- Facilitation and access to scale solutions in other markets across the globe, and throughout Asia, Pacific and Africa
- Insights from learnings produced by similar solutions that are working in other regions of the world
- Published case studies to share solutions with a global audience
- Support in designing communications and PR strategy
The Financial Innovation Lab welcomes all existing start-ups, fintechs and financial services providers, as well as pre-seed stage teams which has a minimum viable product to apply into the programme.
An info session will be held on 20 December 2019 at the Orbit office to assist interested applicants in the Financial Innovation Lab.