2020 top 4 Malaysia SME Government Grant
CIP Ignite – Programme that provides a conditional grant and value added assistance up to RM500,000 for tech based start-ups, local SMEs or spinoff companies from Universities and Research Institutes.
CIP Ignite is divided into two (2) – Ignite (i) and Ignite (ii) where both assists early stage tech based companies at different Technology Readiness Level (TRL).
CIP Accelerate – Programme that provides funding of up to RM2,000,000 and value-added assistance that specifically caters to deep tech startups, SMEs and spinoffs from Universities and Research Institutes.
Digital Transformation Labs (DTL)
Established in partnership with global experts, the Digital Transformation Labs (DTL) help companies identify business pain points using specific methodologies to brainstorm on new ideas, design new business models, develop new products and/or technology designs, and pilot the implementation plan.
Through the DTL, a company is able to set out a digital transformation journey of their own.
Smart Automation Grant (SAG)
A critical part of Pelan Jana Semula Ekonomi Negara (PENJANA), the #SMART Automation Grant (SAG) is a matching grant for services companies.
SMEs and mid-tier companies in the services sector are now able to kickstart their digital adoption journey and increase their digital capabilities to continue striving forward in this new norm.
Each successful application will receive up to 50% of the total project cost, subject to a ceiling limit up to RM200,000 or, whichever is the lowest, through this matching grant
SME digitalisation grant
The favourable provisions for digital adoption set out in the 2020 Budget denotes the government is actively encouraging more local businesses to move rapidly into the technology sphere.
The Government will provide a 50% matching grant of up to RM5,000 per company for the subscription of the above services. The matching grant will be worth RM500 million over 5 years, limited to the first 100,000 SMEs applying to upgrade their systems