Funding Amount: RM500,000 for 12-18 month
The following requirements must be met by small and medium-sized businesses (SME), sole proprietorships, partnerships, and limited liability partnerships based on or connected to technology and innovation: 1.1 Companies that are registered with the Companies Commission of Malaysia (SSM) in accordance with the Partnership Act of 1961 and the Registration of Businesses Act of 1956;
1.2 Companies that are registered with local authorities in Sabah and Sarawak; or
1.3 Companies that are required to be registered with statutory bodies for professional service providers.
2. The following requirements must be met by the applicant:
2.1. The government shall register or recognize applicants who fall under the categories of associations, cooperatives, NGOs, start-up enterprises, or SME companies.
2.2. The applicant must demonstrate that they have the financial means to cover the portion of the project's costs that are not covered by this grant. (For instance, the most recent three-month bank statement.)
2.3. A letter of support from the referee must be included with the individual's application. An approved entity or person is referred to as the referee.
3. A start-up is defined as an early-stage company with a scalable business model and a high-growth strategy made possible by technology or innovation.
3.1. The following are the requirements for start-up eligibility:
i. Listed with the Malaysian Companies Commission (SSM);
ii. More than half of the company must be owned by Malaysians; iii. The paid-up capital must be at least RM10,000.00; iv. The company must have at least two (2) directors; v. The business must be founded on or connected to technology; and vi. The company's operation cannot last more than five years.
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Applied Innovation Fund - Technology Readiness Level (TRL 2-4)
Increased productivity, economic expansion, and societal well-being are all facilitated by innovation. It may involve the integration or combination of technologies that result in new systems, services, processes, or products, or it may involve the enhancement of current technologies with greater cost-effectiveness or value.
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Why SMI FUNDING?
SMI FUNDING’s consultants are dedicated to helping businesses secure the most relevant and up-to-date grants that align with their unique requirements. With extensive expertise in navigating the complex landscape of funding opportunities, our consultants carefully assess each client's business goals and financial needs to identify the best available grants. We focus on sourcing the most current and fitting grants, ensuring that businesses don’t miss out on any opportunities that could drive their growth and success.
From the initial discovery phase to final approval and disbursement, SMI FUNDING takes the burden off your shoulders by managing the entire process. Our team handles all aspects of the application, starting with meticulous documentation preparation. We ensure that all the necessary paperwork is gathered, organized, and compliant with grant requirements. Additionally, we craft tailored proposals that effectively communicate your business’s vision, potential, and alignment with the funding criteria, maximizing your chances of approval.
Our consultants are committed to providing seamless support throughout the entire application journey. Once the proposal is submitted, we stay actively involved, tracking the progress of your application and ensuring that it moves forward smoothly. If any further documentation or clarifications are needed, we are on hand to address them promptly. From start to finish, SMI FUNDING’s consultants provide continuous guidance, ensuring the approval process is as efficient as possible, all the way through to the disbursement of the funds.
With SMI FUNDING, you can trust that every step of the grant application process will be managed professionally and with your business's best interests at heart. We help you focus on what matters most—growing your business—while we handle the complexities of securing the financial resources you need.
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