Government Scheme – 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 Government Scheme – VeecoTech https://veecotech.com.my 32 32 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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