Khazanah Impact Innovation Challenge (KIIC) is a platform for Khazanah to discover and support new business models that assists Khazanah to create strategic value based on the theme of the challenge.
Sponsoring Agency: Khazanah Nasional
Type of Fund: Challenges, Competitions or Prizes
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/07/2021
Size of the Fund: USD $50,000 to $500,000
Khazanah Impact Innovation Challenge (KIIC) is a platform for Khazanah to discover and support new business models that assists Khazanah to create strategic value based on the theme of the challenge.
With the theme “Enhancing Ageing Services for Malaysians”, this business competition is aimed at supporting the growth and scaling-up of affordable services for Malaysian ageing community; towards increasing their quality of life and enabling "ageing-in-place".
KIIC is an initiative of Khazanah, in partnership with Malaysian Global Innovation and Creativity Centre (MaGIC) and supported by Endeavor.
Award Information
• 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.
• Eligible participants may also be selected to participate in the MaGIC Social Impact Challenge Accelerator Programme (SICA) for further capacity building and funding opportunities.
The KIIC is looking for submissions from Malaysian-based business entities with innovative and unique solutions which deliver:
• Measurable impact for Malaysians
• A sustainable business model
• Solutions that can be replicated across Malaysia
Proposed solutions could be any of the following:
• 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.).
Eligibility Criteria
Malaysian-based business entities with the following criteria which can provide innovative and unique solutions for the challenge:
• Accelerator Status
o Organization Details: Companies incorporated in Malaysia with solutions / ideas creating impact in Malaysia
o 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.
o Others: Not an employee of Khazanah, MaGIC or Endeavor.
• Scale-up Status
o Organisation Details: Companies incorporated in Malaysia with solutions / ideas creating impact in Malaysia
o 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.
o Others: Not an employee of Khazanah, MaGIC or Endeavor.
More information at: https://www.khazanah.com.my/kiic/
