Apply Now for Khazanah Impact Innovation Challenge

Deadline: 07-Jun-21

Applications are now open for the Khazanah Impact Innovation Challenge to enhance aging services for Malaysians and support new business models that assist Khazanah to create strategic value based on the theme of the challenge.

KIIC is an initiative of Khazanah, in partnership with Malaysian Global Innovation and Creativity Centre (MaGIC) and supported by Endeavor.

Theme

The theme of KIIC 2021 is “Enhancing Ageing Services for Malaysians” where they are looking for proposals to support the growth and scaling-up of affordable services for the Malaysian ageing community; towards increasing their quality of life and enabling ageing-in place. KIIC is looking for solutions that will help reduce the burden and challenges of ageing. In general, these solutions must meet the following criteria:

Ageing-in-place models that enable Malaysians to age in their own homes or within their current community with access to social, health and care services;
Addresses the needs of the middle-income community – affordable prices and expanded coverage of support in Malaysia;
Innovative non-technological or technological-enabled solutions; and
Any other services that also address the problem (e.g. other ancillary services, financing services, services that reduce cost of healthcare for the aged, etc.).

Award Details

Winner or winners of KIIC stand a chance to receive an award of up to RM300,000 each in project development grant and a potential follow-on investment by Khazanah.
Khazanah reserves the rights on the final grant amount, and disbursement schedule to the shortlisted winner(s) subject to the execution of the KIIC Grant Agreement by the winner(s).
Eligible participants may be invited to participate in MaGIC’s Social Impact Challenge Accelerator Programme (SICA) for further capacity building and funding opportunities.

Eligibility Criteria

Malaysian-based business entities with the following criteria which can provide innovative and unique solutions for the challenge:

Accelerator Status
- Organization Details: Companies incorporated in Malaysia with solutions / ideas creating impact in Malaysia
- Stage of company:
  - At least 12 months track record, either financial or commercial;
  - Non-profit organisations (NPOs) are not eligible;
  - With Minimum Viable Product or market-tested/proven;
  - Prototype ready to be launched.
- Others: Not an employee of Khazanah, MaGIC or Endeavor.
Scale-up Status
- Organisation Details: Companies incorporated in Malaysia with solutions / ideas creating impact in Malaysia
- Size of organization:
  - Small and medium-sized companies as defined by SME Corporation Malaysia:
  - Small-sized company with annual revenue of RM300,000 – RM3 million
  - Medium-sized company with annual revenue of RM3 million – RM30 million
- Stage of company:
  - Established businesses with a minimum of 3-year track record and 1/3 operations in Malaysia;
  - Non-profit organisations (NPOs) are not eligible.
- Others: Not an employee of Khazanah, MaGIC or Endeavor.