The Malaysian Government, MCDD (Malaysia Technology Development Corporation), MOSTI (Ministry of Science, the Ministry of Science and Technology), the Malaysian Government, under SMIDEC (Small & Medium Industries Development Corporation), MATRADE (Malaysia External Trade Development Malaysia) Technology and Innovation) and CGC (Credit Guarantee Corporation) offer grants to Malaysian companies that meet the criteria for governmental funding ranging from 50% to 100% reimbursable grants for the purposes of brand promotion, product development, research & development and marketing activities. Currently, the individual grants ranges from a few hundred thousands to two millions (Malaysian Ringgit) in the form of 100% and 50% reimbursable grant, respectively.
The grants are specifically for Malaysian SME / SMI (Small Medium Enterprises / Small Medium Industries) and formal applications must be made directly to the relevant governmental agencies.
So far, according to governmental sources, the quota for the grant disbursement has not been fully utilized and there is still a substantial amount of such grants available.
To apply, the companies must first be vetted for eligibility. If applicable, a standard official application form must be duly completed and submitted to the relevant agency together with a comprehensive business plan, marketing plan and pertinent information such as Profit & Loss Accounts, Trademark or Service mark registration and other relevant documents.
Most SME / SMI in Malaysia however lacks the business fundamentals, such as a formal business or marketing plans. This is where outsourcing such services to business consulting firms adept at dealing with the government agencies will be helpful. Such firms will guide and assist in the application process and ensure that the required business and marketing plans are in the correct formats.