MaGIC launches SICA to tackle social and environmental issues 

Amiruddin Abdul Shukor

KUALA LUMPUR 19 May - Established start-ups, social enterprises and social innovators can look forward to accelerating their impact-driven solutions through the new Social Impact Challenge Accelerator (SICA).

Through SICA, business enterprises with revenue generating models and impact-driven innovation, will receive resources and curated support to enhance the market adoption of their solutions in tackling a series of social and/or environmental challenges. 

Acting Chief Executive Officer of the Malaysian Global Innovation and Creativity Centre (MaGIC), Amiruddin Abdul Shukor said, SICA is a platform that assembles high potential innovators to accelerate their impact model development for greater market roll out.

“We want to call on all impact driven business enterprises to submit commercially-driven solutions in addressing the selected problem statements. 

"We are glad to partner with the United Nations Development Programme (UNDP) in curating our first impact-focused and SDG driven accelerator,” he said in a statement today.

SICA combines business acceleration programmes with dedicated contents for the United Nations Sustainable Development Goals (SDG) impact alignment, including capacity building on global best practices in impact measurement and management. 

High performing participants will earn exclusive access to a customised post accelerator support, including potential funding, network access and mentorship, as well as opportunity to tap on the Government procurement via Program Perolehan Impak Sosial Kerajaan (PPISK).

The inaugural SICA currently features 3 unique Impact Challenges in collaboration with MaGIC’s Partners for applicants to choose from, namely :

• Enhancing Ageing Services for Malaysians: How can we provide accessible and affordable solutions to support the ageing community in Malaysia? ‒ by Khazanah Nasional Berhad
• Upcycling River Waste to Wealth: How can we use green innovation to convert river waste into a functional sustainable product with commercial value? ‒ by Selangor Maritime Gateway
• Educating the Future: How can we equip the young generation with the right knowledge and/or skill fit for the future? ‒ by Citrine Capital

Participants can begin submitting their applications from 19 May and obtain more information at www.mymagic.my/sica. 

Shortlisted applicants will be invited to pitch their solutions in July, and winners from each Impact Challenge will earn exclusive invites to join an Impact Accelerator and showcase their refined solutions during Demo Day to stand for customised post accelerator support from MaGIC’s Partners. - DagangNews.com