Financial Relief – VeecoTech https://veecotech.com.my Custom Software & App Development Agency Wed, 07 Jan 2026 03:55:36 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://veecotech.com.my/wp-content/uploads/2025/01/cropped-veeco-favicon-32x32.png Financial Relief – VeecoTech https://veecotech.com.my 32 32 18 Latest SME Grants for Malaysia’s Businesses (2025) https://veecotech.com.my/blog/grant-for-sme/ https://veecotech.com.my/blog/grant-for-sme/#comments Wed, 26 Feb 2025 09:00:28 +0000 https://veecotech.com.my/?p=7689

Embarking on a business journey involves more than just an idea; it’s about navigating the financial terrain.

Whether you’re launching or expanding, government grants can be a game-changer. For small and medium-sized (SME) businesses in Malaysia, 2025 brings a slew of opportunities.

Thankfully, the Malaysian government has provided plenty of tailored grants and financial aid to help SMEs.

To save your precious time, our content team has curated a list of latest SME grants for you, so you can discover the lifelines waiting to fuel your business growth effortlessly 😊

Without further ado, let’s unravel the Malaysian government grants awaiting your entrepreneurial spirit.

Note: This article was last updated on 26 February 2025.

1. NCER Grant

VeecoTech MY as NTIC's Centre of Excellence Provider

Agency in Charge

NTIC (NCER Technology Innovation Centre)

Application Deadline:

End of 2025

Target Group:

Malaysian companies in NCER to carry out high technological activities.

Eligibility Criteria:

  • Local Micro, SME and Large Local Companies in NCER (Perlis, Kedah, Pulau Pinang and Perak)
  • Product/process development activities to move up the value chain must be performed by NTIC’s approved CoE Provider.

Project Criteria:

  • The project must have a strategic impact on the ecosystem development & value chain in NCER.
  • The project must be in accordance with the NTIC framework.
  • The project must have a business model for long-term self-sustainability.

Project duration:

  • Maximum of 12 months from the date of approval.
  • Agreement period: Maximum of 15 months from the date of approval.

Form of Aid:

  • Matching grant of RM 100,000, 50:50 ratio
  • Max capped at RM 100,000
  • Minimum project cost allowed: RM5,000

Details:

  • Maximum 1 project to develop per year/company and to allow the usage of multiple of CoE Provider.
  • Funding is for the services & consultancy, including usage of equipment, testing, reliability, failure analysis, and R&D&D&C activities provided by NTIC’s approved CoE.
  • To ensure no double dipping from other agencies (Cradle, MIDA, MRANTI, etc.) by checking documents during claim submission.

Reimbursement Method:

  • 25% – project start
  • 75% – project complete
  • Project status verification by the appointed CoE Provider(s) (VeecoTech) on project initiation and/or project completion for the disbursement of funds.

VeecoTech is an NTIC Matching Grant approved CoE Provider, whose diverse expertise, proven track record, and cutting-edge facilities ensure seamless alignment with the NTIC framework and industry standards, providing the ideal foundation for successful project development and implementation.

View our official NCER grant page for more information!

2. CIP Sprint

CIP Sprint

Source: Cradlefund Instagram

Agency in Charge:

Cradle Fund Sdn Bhd

Application Deadline:

Available throughout the year

Target Group:

Entrepreneurs that need funds to:

  • fund their technology-based business venture
  • cover expenses such as product enhancement, market access, market expansion and others. 

Form of Aid:

Conditional Convertible Commercialisation Grant

Details:

  • CIP SPRINT is disbursed to recipients via advance payment and reimbursement basis.
  • Funding utilisation for CIP Sprint: At least 60% is for commercialisation expenses & maximum of 40% for other expenses such as product development and/or enhancements
  • Up to RM600,000 for a maximum duration of eighteen (18) months, covers the commercialisation of tech and covers SMEs

Related Info:

3. CIP Spark

CIP Spark

Agency in Charge:

Cradle Fund Sdn Bhd

Application Deadline:

Available throughout the year

Target Group:

Entrepreneurs that need fundings to cover the development and pre-commercialisation of their technology start-ups.

Form of Aid:

Conditional grant, Conditional Development / Pre-Seed Grant

Details:

  • It is funding in the form of a conditional grant to assist early-stage entrepreneurs to develop and commercialise their products.
  • Up to RM150,000 for a maximum duration of eighteen (18) months
  • Open to both companies and individuals.
  • CIP SPARK is disbursed to recipients via advance payment and reimbursement basis
  • Funding utilisation for CIP Spark: At least 60% is for developmental expenses & maximum of 40% for non-developmental expenses (including commercialisation expenses.

Related Info:

Cradle Spark

Source: Cradlefund Instagram

4. Digital Content Grant (DCG)

DCG SME Grant

Source: MDEC Website

Agency in Charge:

Malaysia Digital Economy Corporation (MDEC)

Application Deadline:

The grant opened on 9 September 2024 and remains available until the fund is fully committed.

Target Group:

Local creative content companies who develop, produce, and market their digital content in animation, digital games, digital comics, and creative technology contents.

Form of Aid:

DCG consists of three (3) types as per following:

The Mini Grant

  • The grant is aimed to support the development, production, and commercialisation of digital content products with the ceiling amount of RM150,000.00.
  • Project Duration: Up to 6 months.

The Prime Grant

  • The grant is aimed to support the development, production, and commercialisation of digital content products with the ceiling amount of RM500,000.00.
  • Project Duration: Up to 9 months.

The Marketing & Commercialisation Grant

  • The grant is aimed to commercialise the digital content product with the ceiling amount of RM300,000.00.
  • Project Duration: Up to 9 months.

Application Process:

  1. Log in to the Malaysia Digital Platform.
  2. Fill out the DCG application form and upload all the required supporting documents.
  3. Submit application.
  4. Applications will be reviewed for completeness and compliance by MDEC.
  5. Pitching session (by the company).
  6. Approval process.
  7. Receive the application result.

Related Info:

MDEC Official Website

5. Malaysia Digital Catalyst Grant (MDCG)

MCDG SME Grant

Source: MDEC Website

Agency in Charge:

Malaysia Digital Economy Corporation (MDEC)

Application Deadline:

The grant opened on 9 September 2024 and remains available until the fund is fully committed.

Target Group:

The Applicant must be a company with the registered business activities comprising primarily in technology development and/or implementation activities aligned with the Malaysia Digital promoted sectors.

Form of Aid:

Local Owned Company

  • Up to fifty percent (50%) of the total project cost, subject to a ceiling limit of RM1,000,000, whichever is lower.
  • Project Duration: Up to 1 Year

Majority Foreign Owned Company

  • Up to thirty percent (30%) of the total project cost, subject to a ceiling limit of RM1,000,000, whichever is lower.
  • Project Duration: Up to 1 Year

Application Process:

  1. Log in to the Malaysia Digital Platform.
  2. Fill out the MDCG application form and upload all the required supporting documents.
  3. Submit application.
  4. Applications will be reviewed for completeness and compliance by MDEC.
  5. Pitching session (by the company).
  6. Approval process.
  7. Receive the application result.

Related Info:

MDEC Official Website

6. Malaysia Digital X-Port Grant (MDXG)

MDXG SME Grant

Source: MDEC Website

Agency in Charge:

Malaysia Digital Economy Corporation (MDEC)

Application Deadline:

The grant opened on 9 September 2024 and remains available until the fund is fully committed.

Target Group:

Malaysian technology companies that have demonstrated export readiness and are seeking to expand their global market presence.

Form of Aid:

For Local Owned Company

  • Up to 50% of total project cost or up to RM1 Million, whichever is lower.
  • Project Duration: Up to 1 Year

For Majority Foreign Owned Company

  • Up to 30% of total project cost or up to RM1 Million, whichever is lower. Headquarters must be in Malaysia.
  • Project Duration: Up to 1 Year

*Quantum of funding is applicable for project periods of up to 1 year.

Application Process:

  1. Log in to the Malaysia Digital Platform.
  2. Fill out the MDXG application form and upload all the required supporting documents.
  3. Submit application.
  4. Applications will be reviewed for completeness and compliance by MDEC.
  5. Pitching session (by the company).
  6. Approval process.
  7. Receive the application result.

Related Info:

MDEC Official Website

7. Market Development Grant (MDG)

MATRADE's market development grant

Source: MATRADE HQ Facebook

Agency in Charge:

Malaysia External Trade Development Corporation (MATRADE)

Application Deadline:

Available throughout the year

Target Group:

  • Small And Medium Enterprises (SMEs)
  • Professional Service Providers (Sole Proprietor Or Partnership)
  • Trade & Industry Associations, Chambers Of Commerce Or Professional Bodies
  • Co-operatives

That hope to promote Malaysian made products or services globally (only B2B)

Form of Aid:

Reimbursable grant of the lifetime limit of RM300,000

Criteria:

Applicants must participate in international trade fairs or exhibitions held in Malaysia/ overseas physically or virtually.

The expenses covered by this grant include the expenses of utilising digital marketing tools in virtual events.

Related Info:

8. eTRADE Programme 2.0

Matrade eTrade Programme 2.0

Agency in Charge

Malaysia External Trade Development Corporation (MATRADE)

Application Deadline

Ends in 2025.
*Applicants are advised to apply in 2024 if they want to claim the incentives in 2025.

Target Group

Malaysian MSMEs who wish to accelerate export activities via sustained participation in cross-border eCommerce platforms.

The added features for eTRADE Programme 2.0 are digital marketing activities and eCommerce related trainings.

Eligibility Criteria

Company must adhere to the criteria below:

  • Registered with Suruhanjaya Syarikat Malaysia (SSM) –
    – Type of organisation: Company (ROC) / Business (ROB) / Limited Partnership (LLP)
    – Co-operatives registered with Suruhanjaya Koperasi Malaysia (SKM)
    – Or relevant business registration bodies or local authorities* (for Sabah and Sarawak).
  • Made in Malaysia – selling Malaysian-made products or Malaysian brand registered with MyIPO.
  • Malaysian Owned – at least 60% Malaysian ownership.
  • SME – in accordance to SMECorp SME Definition.
  • Must be a MATRADE member and have undertaken Exporters Readiness Assessment Test (ERAT).
  • Registered with MyExport.
  • Open for Manufacturer / Trading Company only.

*City Hall, Municipal, Town Board or District Office (for Sabah) / District Office or Inland Revenue Board (for Sarawak).

Additional Criteria for Onboarding Scheme

  • Minimum 6 (six) months in operation.

Additional Criteria for Digital Marketing and Training (DMT) Scheme

  • Minimum 1 (one) year in operation.
  • eCommerce ready – business operation on cross-border eCommerce platform(s) or cross-border eCommerce website for minimum of 1 (one) year.

Form of Aid

A qualified applicant may receive the following financial incentives:

Onboarding Scheme

  • RM5,000*
  • For onboarding any cross border eCommerce platform or multiple platforms.

Digital Marketing & Training (DMT) Scheme

  • RM20,000*
  • For undertaking any digital marketing activities and / or attending eCommerce training programmes.

*per company, for one (1) year subscription / one (1) year activities.

[Note: eTRADE 2.0 reimbursements are subject to the availability of government funds]

Interested in the DMT scheme? VeecoTech is an MDEC authorised TSP/DP recognised for its team of industry experts and proven track record in website design, eCommerce development, and SEO services.

View our official eTRADE Programme 2.0 page for more information!

Grants for Agrculture Industry

These grants are tailored to support SMEs in the agriculture industry, providing vital resources for sustainable growth and innovation.

9. Program Agropreneur Muda (PAM)

Program Agropreneur Muda Website

Source: eCentral

Agency in Charge:

Ministry of Agriculture and Food Security

Application Deadline:

Available throughout the year

Target Group:

Malaysian citizens aged between 18 and 40 years who want to or already involved in agro-based entrepreneurship, including crop production, livestock farming, fisheries, food and agricultural industries, and agrotechnology.

Form of Aid:

Young Agricultural Entrepreneurs Grant (GAM)

  • Provide assistance in the form of merchandise up to RM20k per person without repayment
  • Individuals who suffered from property damage are eligible for a second chance to reapply for this subsidy too.

Technical consulting and training services

  • Technical training or consultation will be provided by relevant departments based on scheduled slots in each state

Financing scheme (Some websites mentioned this but couldn’t find it on the official website)

  • A 2% low-interest financing option for existing projects to expand agricultural initiatives that have been in operation for at least a year.
  • The amount of financing is as follows:
    • Agrobank: RM50k to RM500k per project
    • National TEKUN: Up to RM50k per project

Related Info:

10. Program Geran Padanan High Impact Product (HIP)

Program Geran Padanan High Impact Product (HIP)

Source: KPKM website

Agency in Charge:

Ministry of Agriculture and Food Security

Application Deadline:

Available throughout the year

Target Group:

Entrepreneurs of Small and Medium Enterprises (SMEs) engaged in food and non-food/agricultural products with an annual gross sales value ranging from RM300,000 to RM5 million.

Form of Aid:

Matching grant with a ratio of 50% (Government): 50% (Entrepreneur) with a maximum government assistance rate of RM200,000.

Related Info:

KPKM official website

11. Program Geran Padanan Change Upgrade Product (CUP)

Program Geran Padanan Change Upgrade Product (CUP)

Source: KPKM website

Agency in Charge:

Ministry of Agriculture and Food Security

Application Deadline:

Available throughout the year

Target Group:

Micro-entrepreneurs involved in food and non-food/agricultural products with an annual gross sales value of less than RM300,000.

Form of Aid:

Matching grant with a ratio of 70% (Government): 30% (Entrepreneur) with a maximum government assistance rate of RM60,000.

Related Info:

KPKM official website

12. Program Rezeki Tani

Program Rezeki Tani

Source: KPKM website

Agency in Charge:

Ministry of Agriculture and Food Security

Application Deadline:

Available throughout the year

Target Group:

  • Malaysian citizens aged between 18 and 60 years
  • Household income does not exceed RM2,650
  • Interested, experienced, skilled, or currently engaged in agricultural:
    • production
    • processing
    • distribution
    • marketing activities related to farming, livestock, and fisheries

Form of Aid:

Assistance through in-kind grants and training based on the participant’s project needs, with a maximum value of RM10,000.

Related Info:

KPKM official website

The SME grant listed below are designed for sectors related to environmental issues.

13. Low Carbon Transition Facility (LCTF)

Low Carbon Transition Facility (LCTF)

Source: BNM website

Agency in Charge:

Bank Negara Malaysia (BNM)

Application Deadline:

3 February 2022 until full utilisation (total RM 2 billion)

Target Group:

SMEs in all sectors who hope to adopt sustainable and low carbon practices.

Form of Aid:

Facility

Relevant details:

  • Financing Amount: Up to RM 10 million
  • Financing Period: Up to 10 years
  • Financing Rate: Up to 5%

Related Info:

The SME grants provided below specifically cater to sectors involved in Research & Development (R&D).

14. National Technology & Innovation Sandbox (NTIS)

National Technology & Innovation Sandbox (NTIS)

Source: NTIS website

Agency in Charge:

Malaysian Technology Development Corporation (MTDC)

Application Deadline:

Available throughout the year

Target Group:

All Malaysian companies (exclude sole proprietorships) that hope to test their products, services, business models and delivery mechanisms in a live environment.

Form of Aid:

Grant and Convertible Promissory Notes

  • Sandbox Fund 1 (Single Site Sandbox): 100% grant for all eligible costs*.
  • Sandbox Fund 2 (Multiple Site Sandbox): 70% grant of all eligible costs* according to the determined maximum quantum
  • Sandbox Fund 3 (Commercialisation Sandbox): 70% funding (In the form of grant and Convertible Promissory Notes) of all eligible costs* according to the determined maximum quantum.
  • Sandbox Fund 4 (Corporate Sandbox): The funding mechanism will be mutually decided between MTDC and the corporate investor/entity.

The quantum of funding is between RM250,000 and RM5 million depending on the funding schemes.

Related Info:

15. RiSE4WRD

Rise4wrd for Industry4wrd

Source: HRD Corp website

Agency in Charge:

Human Resources Development Corporation (HRD CORP)

Application Deadline:

Available throughout the year

Target Group:

SMEs from the manufacturing and related sectors that:

  • Have participated in the Industry4WRD Readiness Assessment
  • Want to identify suitable training programmes as recommended in the Industry4WRD Readiness Assessment report to start or accelerate their digital transformation journeys.

Form of Aid:

Fund

  • The company/employer will be given a training fund of a maximum allocation of RM25,000 and not exceeding RM5,000 for each trainee.
  • Training fund will be distributed at a 7:3 ratio (Some websites mentioned this but couldn’t find it on the official website of HRD CORP)
  • 💰30%: Once the application is successful and the training provider is determined
  • 💰70%: Only eligible for whom complete the training with at least 80% attendance rate
  • Funding for training courses in the following areas: Connectivity, automation, cyber security, Internet of Things (IoT), cloud computing, big data, advanced simulation, autonomous systems, universal integration, augmented reality and additive manufacturing or any relevant technology

Related Info:

General Grants for SMEs

These grants cater to a wide range of businesses, fostering growth and development.

16. Business Recapitalisation Facility (BRF)

Business Recapitalisation Facility (BRF)

Source: BNM website

Agency in Charge:

Bank Negara Malaysia (BNM)

Application Deadline:

3 February 2022 until full utilisation (total RM 1 billion)

Target Group:

Viable Malaysian-owned SMEs including micro enterprises from all economic sectors including existing beneficiaries of BNM funds who wish to undertake capital expenditure

Form of Aid:

Facility

  • Equity financing through issuance of preference shares, common shares, or any suitable equity-like instruments; or
  • A mix of debt financing from participating financial institutions (PFIs) and equity financing through third party equity financiers (blended finance).

Relevant details:

  • Financing Amount: Up to RM 5 million
  • Financing Period: Up to 10 years
  • Financing Rate: Up to 3.5% – 5%

Related Info:

17. SME Revitalisation Financing (SMERF)

SME Revitalisation Financing details

Source: MIDF website

Agency in Charge:

Malaysian Industrial Development Finance (MIDF)

Application Deadline:

Available throughout the year

Target Group:

Viable SMEs as well as companies in underserved sectors that are constrained by financial difficulties.

(Eligible Items: Machinery & Equipment, IT Hardware & Software, Commercial Vehicles, Working Capital)

Form of Aid:

Funding

Financing details:

  • Financing amount: Up to RM250,000 / 90% of total costs of eligible items
  • Financing rate: 3% p.a.
  • Financing tenure: up to 7 years

Related Info:

18. Service Export Fund (SEF)

This fund is designed to empower SMEs aiming to tap into the international market.

Service Export Fund (SEF)

Source: MATRADE X / Twitter

Malaysia External Trade Development Corporation (MATRADE), a national trade promotion agency under the Ministry of Investment, Trade and Industry (MITI)

Application Deadline:

Available throughout the year from 2021 to 2025

Target Group:

  • All service sectors, except tourism, real estate, banking and insurance services.
  • Malaysian Service Providers (MSPs)
  • Trade and Industry Associations, Chambers of Commerce, and Professional Bodies
  • Government Link Company (GLC)/ Government Link Investment Company (GLIC)
  • Co-operatives to undertake export-related activities in international markets
That hope to undertake activities to expand and venture into the international market.

Form of Aid:

Reimbursable grants of a maximum of RM 4.3 million per business entity

Related Info:

Partner with a Malaysia’s Leading Full-Fledged Digital Solution Agency

In the dynamic landscape of SMEs, VeecoTech stands as your dedicated ally, providing a comprehensive digital solutions crafted to elevate your business.

Over a decade, we’ve empowered 500+ government projects, MNCs, SMEs, etc., merging technological prowess with a deep understanding of your unique needs.

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At VeecoTech, it’s not about what we offer; it’s about unlocking your business potential. Our focus is on your unique goals, ensuring that every solution aligns with your vision and accelerates your journey towards success.

Join the league of SMEs success stories that VeecoTech has nurtured over the years!

Ready to transform your business? Reach out to us and experience a partnership that goes beyond services! 😊

]]> https://veecotech.com.my/blog/grant-for-sme/feed/ 1 Your Detailed Guide to MSME Digital Grant MADANI 2023 https://veecotech.com.my/blog/msme-digital-grant-madani/ Mon, 27 Jan 2025 09:00:53 +0000 https://veecotech.com.my/?p=10978

First introduced in 2020, the SME Digitalisation Grant 2023 remains true to its mission of providing financial support to businesses.

This grant offers matching grants of RM5,000, making it easier for businesses to embrace cutting-edge digitalisation and automation technologies in their operations.

With strong government support, this invaluable initiative has been extended, and an allocation of RM100 million has been set aside to bolster the grant further.

Now, let’s delve into the specifics of this new grant.

What is SME Digitalisation Grant and MSME Digital Grant MADANI?

The SME Digitalisation Grant is a government initiative designed to boost the competitiveness and productivity of businesses by facilitating the adoption of digital services in their daily operations.

It was introduced as part of the 2020 Budget to encourage SMEs to embrace digitalisation in their business operations.

To further support SMEs in these challenging times, the Ministry of Finance Malaysia (MoF) has re-launched the Micro, Small, and Medium Enterprise (MSME) Digital Grant, also known as Geran Digital Perusahaan Mikro Kecil dan Sederhana (PMKS), through the Belanjawan Madani 2023 initiative.

This program is a collaborative effort between the Malaysian government, including the Malaysian Digital Economy Corporation (MDEC), Bank Simpanan Nasional (BSN Bank), and the Malaysian Communications and Multimedia Commission (MCMC).

The MSME Grant is specifically designed for micro, small, and medium-sized enterprises to enhance the digitalisation of their day-to-day business operations by enabling them to acquire digital services from registered Digitalisation Partners (DP) affiliated with the MDEC.

These partners guide and provide digitisation services, with a 50% matching grant available for each company, up to a maximum of RM5,000.

The Areas of Digitalisation Services Available

The MSME Digitalisation Grant 2023 offers comprehensive services to catapult SMEs into the digital age. These services include:

1. Digital Marketing/Sales

This involves employing targeted online strategies such as Website Design, E-commerce platform, Search Engine Optimisation (SEO), Social Media Marketing, etc., to expand market reach and increase sales. The benefits include heightened visibility, broader customer bases, improved conversion rates, and a competitive edge in the digital realm.

2. Digital Payment/e-Point-of-Sales (POS) System

By adopting secure and efficient digital payment solutions, businesses can streamline their sales processes, leading to faster transactions, reduced errors, improved customer experiences, and better financial tracking.

3. HR Payroll System/Customer Relationship Management (CRM)

Automation of payroll management and optimisation of customer relationships drive business growth. Benefits encompass efficient HR processes, accurate payroll handling, enhanced customer satisfaction, and personalised marketing.

4. Enterprise Resource Planning (ERP)/Accounting & Tax

Integrated software simplifies MSMEs’ financial management and provides real-time insights. MSMEs gain improved financial visibility, streamlined operations, better decision-making capabilities, and compliance with tax regulations.

5. Digital Signature

Legally recognised e-signatures help MSMEs secure document authenticity, leading to faster document processing, reduced paperwork, enhanced security, and cost savings.

6. IoT/Intelligent System

Embracing an IoT system is one of the main objectives of Industry 4.0. By integrating smart technology to interconnect and optimise diverse business operations, MSMEs can improve operational efficiency, make data-driven decisions, reduce costs, and enhance customer service.

7. Cyber Security

Ensuring robust cybersecurity is vital for safeguarding your digital assets and sensitive information, particularly in an era of cyber threats. Cybersecurity services like Penetration Testing and Vulnerability Assessment enable you to mitigate these threats, maintain regulatory compliance, and instil customer trust.

These digitalisation services streamline operations and empower MSMEs to remain competitive, adapt to changing market dynamics, and achieve sustainable growth in the digital age.

Apply for MSME Digital Grant Today!

Ready to digitalise your business? Explore our packages and apply now!

Let's talk

Eligibility Criteria for the MSME Digitalisation Grant

MSME digital grant guide infographics

To ensure that your business qualifies for the MSME Digital Grant MADANI 2023, please consider the following eligibility criteria:

Ownership Requirements

Your MSME or Cooperative must have at least 60% ownership by Malaysian citizens, emphasising the government’s focus on supporting local entrepreneurs.

Registration Credentials

Your business must be registered with the Companies Commission of Malaysia (SSM)/Local Authorities (PBT) or Malaysia Co-operative Societies Commission (SKM). Proper registration ensures transparency and accountability.

Operational Duration

Your business should have a minimum operational history of six months to be eligible. This criterion helps identify businesses with a degree of stability and commitment.

Annual Turnover

Your business must demonstrate an average annual turnover of at least RM50,000, showcasing your active engagement in economic activities.

Previous Grant Status

MSMEs and Cooperatives that have not previously received Digitalisation Matching Grants are encouraged to apply. This ensures that more businesses can benefit from this valuable opportunity.

Essential Documents for Grant Application

Required coumends for grant application infographics by VeecoTech

When applying for the MSME Digitalisation Grant, it’s important to have the following essential documents in order to streamline the application process:

Identification

Ensure you have a copy of the identity card or passport of director(s), partner(s), or proprietor(s), whichever is applicable. This helps verify the key individuals involved in the business. Do not add any watermark on your IC copy and ensure your IC copy can be seen clearly.

View Sample of IC (Front)

View Sample of IC (Back)

Business License

Gather your business registration documents, SSM business profile, or SKM registration documents. These documents demonstrate the legitimacy of your business and its compliance with local regulations.

View Sample of SSM Business Profile (For Sdn Bhd)

View Sample of SSM Business Profile (For Sole Proprietor & partnership)

Financial Documents

Prepare your latest audited accounts, management accounts, or the latest two-month bank statements. These financial records provide a snapshot of your business’s financial health and stability.

View Sample of Latest Two-Month Bank Statements

Invoice

Have an invoice or quotation issued by Digitalisation Partners, showcasing the cost of the digitalization services you intend to acquire. This document is vital to understanding the scope of your digitalization project.

View Sample of Quotation

How to Apply for MSME Digital Grant MADANI 2023?

Check out our recent video to learn how to apply MSME Digital Grant:

Step by step guide to apply for MSME digital grant MADANI by VeecoTech

Follow these steps to apply for the MSME Digital Grant MADANI:

Step 1: Application & Selection

Before contacting your preferred Digitalisation Partner, please verify your eligibility for the MSME Digital Grant.

This grant is accessible to MSMEs and cooperatives that meet specific criteria. If you qualify, ensure you have the documents mentioned above and contact your chosen DP to request a quotation.

Step 2: Approval Process

Once your documents are ready, visit Funding Societies and choose your DP and digital services. Follow the steps on the website to complete the application form.

Upon approval, MSMEs and cooperatives will receive notifications and must make the remaining payment for the selected services within 14 days using a provided payment link.

Step 3: Payment & Service Delivery

Once payment is made, the selected DPs will provide the digital services to the MSMEs and cooperatives. The grant covers 50% of the invoiced amount or up to RM5,000.00.

Step 4: Claim & Disbursement

DPs must submit a claim form and proof of delivery upon service delivery. Once approved, 50% of the total invoice amount (or up to RM5,000.00) will be disbursed to the DPs.

If you choose us as your digitalisation partner, please follow the steps in the image below:

Step by step guide to apply MSME digital grant MADANI if you're choosing VeecoTech

Apply for MSME Digital Grant Today!

Ready to digitalise your business? Explore our packages and apply now!

Let's talk

Frequently Asked Questions (FAQ) About MSME Grant

Can I apply if I have already gotten the 2020 SME grant?

No. MSMEs or cooperatives that have previously obtained a Digitalisation Matching Grant are not eligible for the MSME Digital Grant MADANI.

Can I apply if I applied but failed to get the 2020 SME grant?

Yes, you can apply.

What’s the highest amount I can request with this grant?

This grant supports up to 50% of the invoiced total or a maximum of RM5,000.00 for each qualified MSME or cooperative to facilitate digitalisation.

Am I allowed to apply for multiple services through this initiative?

Absolutely, you can apply for up to three different digital services using the MSME Digital Grant MADANI.

What’s the processing time for applications?

The application process typically lasts for up to 3 working days. Upon submitting your application, it undergoes a review for approval. You will receive an email notification regarding the status of your application.

What documents do I need to prepare for the grant application?

You will need to provide:

  1. Completed online application form
  2. A copy of the Owner/Director/Partner’s NRIC
  3. Your business registration license or SSM business profile
  4. Most recent audited/management accounts or the last two months’ bank statements

Why was my MSME Grant application rejected by Funding Societies?

  1. Past grant recipient: Please check if you have applied for the previous SME Grant. You are not eligible for this grant if you have received the previous grant. If there is any dispute, please contact BSN for clarification.
  2. Incomplete SSM profile: Ensure that your SSM Business profile and documents are completed.
  3. Unclear/Watermarked IC copy: Please avoid adding any watermark to your IC and ensure all the details can be seen clearly.

How much do I pay upfront?

You will need to clear the remaining invoice balance (minus the grant) to the Digitalisation Partner through Funding Societies’ payment services within 14 days.

After the service is provided, the Digitalisation Partner will get 50% of the total invoice amount or up to RM5,000.

How to make the payment?

You will receive an email containing a unique payment link. Please make your payment through that link.

What’s the next step after I receive the grant approval notice?

Once you have the grant approval notice, kindly forward your payment receipt and the notice to mdec@veecotech.com. We will then reach out to you shortly.

]]> How to Apply for the MSME Digital Grant MADANI nonadult Fuel Business Growth with RM100k Funding: A Guide to NTIC’s CoE Matching Grant https://veecotech.com.my/blog/rm100k-ncer-coe-grant-with-veecotech/ Wed, 15 Jan 2025 09:00:21 +0000 https://veecotech.com.my/?p=10054

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

Illustration of NTIC framework

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.

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.

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