The Securities Commission Malaysia (SC) is seeking FinTech startups to enhance Islamic capital market via the second cohort of its FIKRA ACE accelerator program, part of the FIKRA ACE initiative.

SC said in a statement on Thursday that FIKRA ACE, which was launched in 2023, is a three-year initiative aimed at advancing the Islamic Capital Market (ICM) through innovative Islamic fintech solutions.

The program comprises an accelerator, Circle and Excel components.

Following the success of the first cohort last year, the SC is now inviting applications for its 2024 cohort.

FIKRA accelerator provides a platform for startups to develop innovative solutions, from ideation to minimum-viable product.

The eight-week structured program consists of workshops, mentorship, networking activities, and funding facilitation.

The accelerator program is expected to start in August.

It is opened to individuals or companies with less than three years market presence.

Applications are open to both local and international applicants.

The Malaysia Digital Economy Corporation (MDEC) is the strategic local ecosystem partner for the program.

MDEC will continue to support startups participating in the program with the infrastructure, resources, and market knowledge to scale their businesses more effectively.

The SC will also collaborate with the Islamic Development Bank as the global ecosystem partner, to help enrich contents of the program with international insights and perspectives.

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