ENTREPRENEURSHIP - FINTECH & ISLAMIC FINANCE
A TALK
INCEIF STUDENT ENTREPRENEURSHIP CLUB
JAMAL NASSARPh.D Candidate
5TH Oct. 2016
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? What’s Next for Entrp. Club?
SOCIAL ENTREPRENEURSHIPSE: BY MAGIC
SOCIAL ENTREPRENEURSHIP - MALAYSIAHTTPS://WWW.YOUTUBE.COM/WATCH?V=A6UARO-S2CC
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
STARTUP ECOSYSTEM
Startup Ecosyst
em
Universities
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
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
GLOBAL TRENDS - ENTREPRENEURSHIP
ENTREPRENEURSHIP & THE MALAYSIAN NATIONAL DEV. POLICY
Source: Malaysia 11th Plan
ENTREPRENEURSHIP & THE MALAYSIAN NATIONAL DEV. POLICY
Source: Malaysia 11th Plan
ENTREPRENEURSHIP & THE MALAYSIAN NATIONAL DEV. POLICY
Source: Malaysia 11th Plan
GEM 2015/16 GLOBAL REPORT - MALAYSIA
STARTUP SCENE IN MALAYSIA
GLOBAL TRENDSFINTECH – ISLAMIC FINANCE & ENTREPRENEURSHIP
INSIGHTS & TRENDSSearch Keyword: Fintech
INSIGHTS & TRENDS
INSIGHTS & TRENDS
ENTREPRENEURSHIP GLOBAL ORGANIZATIONS
1. Entrepreneurs’ Organization.2. Young Entrepreneur Council.3. FoundersCard.4. Social Enterprise Alliance.5. Startup Grind.6. Edward Lowe Foundation.7. Vistage8. Association of Private Enterprise Education9. Young President’s Organization10.Ashoka11.The Entrepreneur’s Club12.United States Association Small Business
and Entrepreneurshiphttps://www.entrepreneur.com/article/241192
MALAYSIA ENTREPRENEURSHIP & FINTECH LANDSCAPEINDUSTRY PLAYERS
Industry Players
SUPPORTIVE ORGANIZATIONS
MDEC
www.MSCmalaysia.my
MSC
www.MSCmalaysia.my
FOCUS AREAS
MSC AR 2015
MAVCAP in 2001 to invest in ICT companies
MAVCAP
SuperSeed
500 Durians Gobi Partners
VC Partners Program
CRADLE SND. BHD. Cradle 2002 to fund startups spur innovation & tech
MAGIC
http://mymagic.my/en/
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 MAVCAPDurian Startups an investment Fund of Startup500& many others.
RAPID DEVELOPMENT Bank Negara in June 2016 established the Financial Technology Enabler Group (FTEG).
The FTEG is contactable @ [email protected].
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
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”.
PwCestimates 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 StatistaThe 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
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
RECENT INITIATIVES
Source: http://www.smecorp.gov.my/index.php/en/
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-singapore/
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/
FINTECH GLOBAL TREND
INTERNET ACCESS &USE FOR PAYMENTS
Global Findex database 2014World Bank
FINTECH GLOBALLY
https://einargunnar.com/2016/03/08/startup-reykjavik-is-an-opportunity-for-fintech-companies/
FINTECH GLOBALLY – NEW YORK
http://letstalkpayments.com/
FINTECH GLOBALLY - SINGAPORE
http://letstalkpayments.com/
FINTECH GLOBALLYINDIA
http://letstalkpayments.com/
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.
WHERE DOES ISLAMIC FINANCE STAND?
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?
NEXT TALK!
HAPPENING