Fuel Business Growth with RM100k Funding: A Guide to NTIC’s CoE Matching Grant

Ever felt that your company has a wealth of untapped potential just waiting to be harnessed?

Navigating the R&D arena often means addressing obstacles such as limited resources or compliance requirements overwhelming even the most determined entrepreneur.

But what if we told you there’s an extraordinary opportunity to not only relieve these pain points but catapult your business into the forefront of innovation?

Here’s the answer: the NCIA Centre of Excellence (CoE) RM 100k Matching Grant.

This funding tool aims to empower NCER companies across key industries, giving them access to cutting-edge resources and matching up to RM100k to fuel their ventures.

And with VeecoTech as an approved CoE provider, you’re promised top-tier support every step of the way.

In this article, we’ll unveil the actual value of this grant, walk you through eligibility and application details, emphasise the advantages of partnering with VeecoTech, and set you on course for transformative, innovation-driven growth.

Let’s get into it.

What Makes This Grant Valuable?

On the surface, the NCIA Centre of Excellence (CoE) RM 100k Matching Grant is understandably attention-grabbing, not only for the considerable funding figure but its 50% matching scheme (which means your business pays 50% and the NCIA pays the other 50% or up to RM 100,000 depending on your project cost) .

What this means is that business investment is effectively doubled, fuelling impactful innovation while mitigating financial risk.

Aligning The Grant’s Benefits with NTIC’s Mission

The RM 100k Matching Grant shines brightly under the ambitious roof of the NCER Technology Innovation Center (NTIC).

Integral to the “Tech Valley” initiative, NTIC’s mission is a beacon in the landscape of tech innovation, weaving together government, society, academia, and business to shape talent and nurture a dynamic industry ecosystem.

The innovation centre targets diverse players — from MNCs and LLCs to SMEs, young entrepreneurs, and startups, providing a launching pad to spearhead transformative technology innovation activities.

As a potential Centre of Excellence (CoE) User, businesses will seamlessly become a part of this narrative.

The RM 100k Grant aligns perfectly with NTIC’s objective of nurturing local companies through high-impact technology activities, empowering you to redefine your innovation trajectory.

That’s truly where this grant shines most–in its transformative power. It’s intended as an investment not just in a business’ immediate endeavours but in its long-term standing within the industry.

In short, the CoE RM 100k Grant isn’t merely a financial opportunity; it’s a compass guiding you toward long-term innovation and growth.

Who is Eligible and How to Apply?

Eligibility for the RM 100k Matching Grant extends to micro, SME, and large enterprises operating in the Northern Corridor Economic Region (NCER) of Malaysia–namely Perlis, Penang, Kedah, and Perak.

The focus is on contributing to key industries that align with NTIC’s mission, creating a vibrant innovation ecosystem. Industries supported include:

• Electrical & Electronics
• Machinery & Equipment
• AgriTech
• MedTech
• Aerospace

Here are some more details on how you can apply, as well as where to look for support and some key points to remember:

The Application Process

Firstly, you’ll need to align your project with NTIC’s priorities.

To be a successful applicant, your project should be linked to transformative technological activities that bolster innovation and long-term economic growth. In these particular areas of focus:

• Digital Economy
• Smart Firming
• Digital Tourism
• Smart Learning
• Great Economy
• Smart Supply Chain
• Smart Logistics
• Smart Machinery
• Smart Manufacturing

Secondly, prep your documents. Demonstrate your potential by showing how your project aligns with the NCER technology transformation narrative. Include detailed plans, deliverables, costings, and a proposed timeline.

Finally, submit your application. Make sure you’ve completed all fields and answered all questions before submitting your application.

Key Points to Consider

• The grant term programme is valid under RMK-12 until 2025.
• Even if your application doesn’t get approval on the first attempt, don’t worry. Account managers are available to advise you on improvements.
• The minimum project cost eligible for this grant is RM5,000.
• Remember to apply for your project as a whole rather than in phases.
• The project duration should not exceed a maximum of 12 months from the date of approval.
• The application process typically takes around 30 working days–don’t worry if you don’t hear anything back before then.

Ready to boost your business potential with the RM 100K NCER Grant? Follow these steps to apply today!

VeecoTech Solutions’ Role

Navigating the ins and outs of a grant application might seem daunting, but believe it or not, businesses don’t have to scale this height alone.

Enter VeecoTech, an approved NTIC CoE provider.

Specialising in software development, mobile app development, web development & cyber security capabilities and a trusted 3-time Malaysian grants Digital Provider (in this case, CoE Provider) we are not just about delivering solutions, we are committed to bringing businesses forward with financial support opportunities like the CoE User Grant.

Reach out to us here and receive steady support and expert guidance through every step of your solution development process.