FAQ

i-Connect Fintech in Islamic Finance is an industry-led collaborative network that involves quadruple helix (industry, research community, government and civil society) to create and nurture a conducive innovation ecosystem in Malaysia towards increasing disruptive innovation in Fintech in Islamic Finance.

i-Connect Research and Development Grant for Fintech in Islamic Finance is intended to be used to develop disruptive solutions using one or more of the sciences and technology drivers. The Grant is intended to be used to bridge the gap that often exists among Research, Development and Deployment phases.

i-Connect has set up a fund to foster innovation in Islamic Fintech with one key focus area which is Islamic Digital Bank Innovative Solutions

Eligibility criteria to apply for the i-Connect R&D grant are as following:

i. The application involves at least one (1) local company/organization (Malaysian) pairing with at least one (1) local university or research center;
ii. The project must be completed in 12 months with the Malaysian company/organization (industry) as the project lead; and
iii. Roles and responsibilities, contributions, and the ownership of the project outcomes shall be addressed and agreed upon by the project partners prior to execution of the collaboration.

The application is currently open for all applicants.

The application will be closed for registration until further notice and announcement will be published on the website and email broadcast.

Participant require to complete the registration form in (Have Industry-Research Collaboration) category including required documents through https://www.inceif.edu.my/i-connect.islamicfintech/register-your-interest/ within the allocated time of registration.

Yes, you may register your interest to search for a potential collaboration by completing a form in (Looking for Collaboration) category and contact your prospective industry collaborative partners directly.

A complete registration with your collaborative partner through (Have Industry-Research Collaboration) is still required to apply for the i-Connect Research and Development (R&D) Grant.

Yes, you may register your interest to search for a potential collaboration by completing a form in (Looking for Collaboration) category and contact your prospective research community collaborative partners directly.

A complete registration with your collaborative partner through (Have Industry-Research Collaboration) is still required to apply for the i-Connect Research and Development (R&D) Grant.

Yes, you may submit the application however, the project should be using one or more of the sciences and technology drivers and adhere to all eligibility and merit criteria.

Yes, you may apply for the grant but still require to have at least one industry partner who will deploy the product including to participate in the funding process.

Yes, you may engage and contact directly with respective research community collaborative partners by completing a form in (Looking for Collaboration) category.

A complete registration with your collaborative partner through (Have Industry-Research Collaboration) is still required to apply for the i-Connect Research and Development (R&D) Grant.

Technology Readiness Level (TRL) is a method for estimating the maturity of technologies during the acquisition phase of a program, which is developed by NASA. It is divided into 9 levels as below:

i. TRL1 – Ideation: Basic principles observed and reported
ii. TRL2 – Innovation begins: Basic principles observed, so practical applications can be formulated
iii. TRL3 – Proof of concept: Analytical and laboratory studies are required to see if the technology is viable
iv. TRL4 – Component test: Laboratory testing of the prototype component
v. TRL5 – Prototype construction: Laboratory testing of the integrated system
vi. TRL6 – Alpha testing: Prototype system demonstrated in an operational environment
vii. TRL7 – Beta testing: Completed design tested in real environment
viii. TRL8 – Technology demonstration & Certification: Proven to work under its expected conditions and certified to be used
ix. TRL9 – System proven to successfully function: Ready for commercial deployment

Participant will receive an email on their application status but there will be no appeal process open afterwards.

No, the project will not be fully covered by i-Connect R&D grant. Grant’s applicant must fund at least 50% of the total project cost. Contributions from the grant applicant in the form of financial funds, expertise, equipment, services etc. need to be translated in value of financial contribution.

Targeted participant to apply for the grant are as below:

• Research Community
• Industry Player
• Civil Society
• Government agencies
• Start-up companies

Yes, a company can apply for more than one project but will require to have respective leader for each project.

Evaluation process and approval status will be announced by email.

There are no specific minimum or maximum limit to apply for the grant however the expected value from the participant to request would be between RM100,000 and RM2,000,000.

Cannot as it has to be a collaboration between at least one (1) local company/organization (Malaysian) pairing with at least one (1) local university or research center to be eligible apply for the R&D grant.

The project leader should apply for the application through the website as agreed among the collaborators.

The ownership of the project including contribution, roles and responsibilities outcomes shall be addressed and agreed upon by the project partners prior to execution of the collaboration.

No, there are no minimum qualification criteria to apply for the grant as long it fulfills the eligibility criteria.

There is no maximum limit of parties that can collaborate in one (1) project but it should involve at least one (1) local company/organization (Malaysian) pairing with at least one (1) local university or research center.