Entrepreneurship fintech & islamic finance v1.4
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A presentation that explores the entrepreneurship ecosystem in Malaysia, relate it to Fintech and Islamic Finance. Delivered as a talk by Jamal Nassar a Phd Candidate, at INCEIF Campus, KL, Malaysia on 5th Oct. 2016. For more about Jamal please visit www.jamalnassar.com
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Entrepreneurship fintech & islamic finance v1.4
- 1. ENTREPRENEURSHIP - FINTECH & ISLAMIC FINANCE A TALK INCEIF STUDENT ENTREPRENEURSHIP CLUB JAMAL NASSAR Ph.D Candidate 5TH Oct. 2016
- 2. CONTENT Video Intro to Startup Entrepreneurship Entrepreneurship & Malaysia Dev. Global Insights & Trends Malaysia Entrp. & fintech landscape Industry players Fintech Recent initiatives Fintech Sandbox Where Does IF Stand?
- 3. SOCIAL ENTREPRENEURSHIP SE: BY MAGIC SOCIAL ENTREPRENEURSHIP - MALAYSIA HTTPS://WWW.YOUTUBE.COM/WATCH?V=A6UARO-S2CC
- 4. WHY STARTUPS? Startups that create new jobs Bread innovation & creativity Attract international talent and foreign direct investments (FDI). Build an ecosystem and network connectivity, which is the single most important contributor to growth. Source: StartupCommons.org
- 5. STARTUP ECOSYSTEM Startup Ecosystem Universitie s Funding org.’s Service Providers Research org.’s Support org.’s Startup Ecosystem: Ideas, inventions and research Entrepreneurs Startups & Startup team members Angels Investors Mentors Advisors Other entrepreneurial people Related organizations
- 6. EXTREME ENTREPRENEURSHIP A new report estimates that, as of 2014, MIT alumni have launched 30,200 active companies, employing roughly 4.6 million people, and generating roughly $1.9 trillion in annual revenues. Illustration: Christine Daniloff/MIT Source: http://news.mit.edu/2015/report-entrepreneurial-impact-1209
- 8. ENTREPRENEURSHIP & THE MALAYSIAN NATIONAL DEV. POLICY Source: Malaysia 11th Plan
- 9. ENTREPRENEURSHIP & THE MALAYSIAN NATIONAL DEV. POLICY Source: Malaysia 11th Plan
- 10. ENTREPRENEURSHIP & THE MALAYSIAN NATIONAL DEV. POLICY Source: Malaysia 11th Plan
- 11. GEM 2015/16 GLOBAL REPORT - MALAYSIA
- 12. STARTUP SCENE IN MALAYSIA
- 13. GLOBAL TRENDS FINTECH – ISLAMIC FINANCE & ENTREPRENEURSHIP
- 14. INSIGHTS & TRENDS Search Keyword: Fintech
- 17. ENTREPRENEURSHIP GLOBAL ORGANIZATIONS 1. Entrepreneurs’ Organization. 2. Young Entrepreneur Council. 3. FoundersCard. 4. Social Enterprise Alliance. 5. Startup Grind. 6. Edward Lowe Foundation. 7. Vistage 8. Association of Private Enterprise Education 9. Young President’s Organization 10.Ashoka 11.The Entrepreneur’s Club 12.United States Association Small Business and Entrepreneurship https://www.entrepreneur.com/article/241192
- 18. MALAYSIA ENTREPRENEURSHIP & FINTECH LANDSCAPE INDUSTRY PLAYERS
- 19. Industry Players
- 23. FOCUS AREAS MSC AR 2015
- 24. MAVCAP in 2001 to invest in ICT companies MAVCAP SuperSeed 500 Durians Gobi Partners VC Partners Program
- 25. CRADLE SND. BHD. Cradle 2002 to fund startups spur innovation & tech
- 27. RECENT INITIATIVES Establishment of MaGIC 2014 Sandbox Concept by BNM Startup incentives by MDeC International & Regional Venture Capital Funds setting up base or investing in Malaysia Training, Academy, Incubator, Accelerator and SE. An international Fintech initiative applied in US, UK, (Australia 2017), Singapore and Hong Kong. 70% tax incentive, employ 20 foreign talent, Bill of Guarantee & financing schemes Gobi Funds in Partnership with MAVCAP Durian Startups an investment Fund of Startup500 & many others.
- 28. RAPID DEVELOPMENT Bank Negara in June 2016 established the Financial Technology Enabler Group (FTEG). The FTEG is contactable @ fintech@bnm.gov.my. Discussion Paper on Fintech Regulatory Sandbox released on 29 July 2016 Source: http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press_all&ac=3414
- 29. FINTECH! Officially entered the Oxford Dictionary in 2014, is defined as: “computer programs and other technology used to support or enable banking and financial services”. PwC estimates that cumulative investment in FinTech globally could exceed USD150 billion within 3 to 5 years, and that over 20% of financial service businesses will be ‘at risk’ from FinTech companies by 2020. Data provided by Statista The first half of this year, online transactions in Malaysia: Totaled US$6.37 million (RM26.3 million), in comparison to US$769.3 billion recorded globally. McKinsey & Company report: the number of global fintech startups had exceeded 2,000, more than twice the figures less than a year ago. http://www.nst.com.my/news/2016/10/177308/local-lenders-path-digital-dominance
- 30. OBJECTIVES OF THE REGULATORY SANDBOX Advance financial technology Enable deployment of innovation in a live environment Incorporate appropriate safeguards to manage the risks and contain the consequences of failure Testing period limited to 12 months For more Refer to BNM.gov.my
- 32. EXAMPLES OF FINTECH STARTUPS SunTrust Bank Nigeria Nigeria’s first financial technology bank. Charles Onyema Ugboko, Chairman of SunTrust Bank Nigeria, explained that the bank’s target was to bring financial services to the 40 million unbanked people in Nigeria In just two years, Nigeria has become PayPal’s 3rdlargest mobile e- commerce market, expecting USD 819 million in transactions by end 2016 Source: https://itu4u.wordpress.com/2016/09/15/embracing-fintech-examples-from-nigeria-and- Innovation: We encourage a culture of experimentation and research, to create, with financial ingenuity, products and solutions that are simple, creative and responsible where entrepreneurship and prudent risk-taking are encouraged, rewarded and incorporated. https://suntrustng.com/about-us/
- 34. INTERNET ACCESS & USE FOR PAYMENTS Global Findex database 2014 World Bank
- 36. FINTECH GLOBALLY – NEW YORK http://letstalkpayments.com/
- 37. FINTECH GLOBALLY - SINGAPORE http://letstalkpayments.com/
- 39. FINTECH VALUATION & TECHNOLOGY TRENDS Source: https://www.linkedin.com/pulse/fintech-valuations-technology- trends-arpit-mishra What is blockchain? A blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. It uses cryptography to allow each participant on the network to manipulate the ledger in a secure way without the need for a central authority.
- 40. WHERE DOES ISLAMIC FINANCE STAND?
- 41. HAVE AN IDEA? I Don’t have money, can I ever start anything? I have an idea, how do I ensure its viability? If I want to venture into a small business, how do I explore it first? where to start? Who to talk to? How to proceed? How to start with minimum cost? Who to partner with?
- 42. HAPPENING
- 43. Q & A Jamal Nassar @Jaamaal_n tojamalnassar@gmail.co m 017-611-4090
Hinweis der Redaktion
- As of 2014, the report estimates, MIT alumni have launched 30,200 active companies, employing roughly 4.6 million people, and generating roughly $1.9 trillion in annual revenues. That revenue total falls between the world’s ninth-largest GDP, Russia ($2.097 trillion), and the 10th-largest, India ($1.877 trillion), according to 2013 data on those and other countries from the International Monetary Fund.
- TIG Funds: -Supports all technology areas but funding preference is given to proposed projects related to these technology areas such as Big Data Analytics, IoT, Cloud, eCommerce, Security, Games, 3D Printing, Mobile Technology/Computing or combinations of two or more of the said technology areas. Fund (formerly known as MaC3 Co-Pro Fund) is a funding support designed to help innovative local companies to develop, produce and co-produce content in the areas of Animation, Game, Digital Film with VFX components, Beyond Entertainment (Education, Simulation and Training content), High-end Technology Deployment (Film Technology, Editing and Coloring, Digitization) and Digital Music that will contribute to the overall development of Creative Multimedia Industry and MSC Malaysia.
- TIG Funds: -Supports all technology areas but funding preference is given to proposed projects related to these technology areas such as Big Data Analytics, IoT, Cloud, eCommerce, Security, Games, 3D Printing, Mobile Technology/Computing or combinations of two or more of the said technology areas. Fund (formerly known as MaC3 Co-Pro Fund) is a funding support designed to help innovative local companies to develop, produce and co-produce content in the areas of Animation, Game, Digital Film with VFX components, Beyond Entertainment (Education, Simulation and Training content), High-end Technology Deployment (Film Technology, Editing and Coloring, Digitization) and Digital Music that will contribute to the overall development of Creative Multimedia Industry and MSC Malaysia.
- FTEG responsible for formulating and enhancing regulatory policies to facilitate the adoption of technological innovations in the Malaysian financial services industry. The introduction of the Sandbox is another key initiative by the Bank in providing a conducive regulatory environment for the adoption of innovative financial technology solutions, following the establishment of Financial Technology Enabler Group (FTEG) on 2 June 2016. Mr Aznan Abdul Aziz, Chairman of FTEG said, “The Sandbox is an important regulatory tool for the Bank to spur innovation in the financial sector. It signifies the Bank’s commitment to improving the quality, efficiency and accessibility of financial services in Malaysia through a progressive and responsive regulatory approach that unlocks the value of technological developments.”
- This tells us that Nigeria although doesn’t have the infrastructure for development it has the entrepreneurial culture to support it.
- Once a block of data is recorded on the blockchain ledger, it’s extremely difficult to change or remove. When someone wants to add to it, participants in the network — all of which have copies of the existing blockchain — run algorithms to evaluate and verify the proposed transaction. If a majority of nodes agree that the transaction looks valid — that is, identifying information matches the blockchain’s history — then the new transaction will be approved and a new block added to the chain.