Businesses of all sizes can reach out to and engage with various support initiatives that MDEC currently manages. This includes the different grants that are currently made available for different industry verticals. These market assistance are actively providing the support businesses need to remain sustainable or expand their operations.
What is Government Grants And How It Works
A government grant is tax-funded money allocated to projects that serve a public purpose. Legislation determines each grant's funding amount, the types of projects it will fund, and the terms of each grant
During the pre-award phase, the government announces the grant funding opportunity in a grant package. The package is called an RFP or RFA (Request for Proposals or Request for Applications). This phase is when you apply for the federal grant. Review the guidelines outlined in the RFP, complete, and submit your application. The funding agency will evaluate your application and decide who will get the government grant.
The government will notify you whether they select you to receive funding and carry out the proposed program in the award phase.
The post-award phase is when your nonprofit implements the proposed program. You will also need to report on the progress, achievements, and spending of funds, and finally, close out the program. Government grants are a time-consuming but potentially rewarding venture for your nonprofit organization as well.
Knowing What Type Of Grant Suits Your Business
MDEC programmes assist all market sectors to achieve different objective to help local company to progress to the next level. First type of grant is, SAG Smart Automation Grant (SAG) is a matching grant for service companies to automate and digitalize their business processes. The purpose of this grant solely on kick start the development and implementation of project by technology to automate the business operations.
Second option is, The Digital Content Grant (DCG) is a government initiative launched in 2016 to assist local creative content companies in developing, producing, or co-producing digital content in animation, digital games, and interactive media content which is the main topic of this article. Third grant is Global Technology Grant (GTG), and it’s mission is to cultivate global champions while driving investments and catalysing the digital innovation ecosystem. The grant will be used solely for technological innovation, product development, and commercialization of innovative commercially driven products or services.
Last option is 4th IR Catalyst Grant (4ICG), 4ICG is designed to catalyse the use and development of IR4.0 technology into key business verticals as outlined in the National 4IR Policy. The grant will be used solely for the purpose of co-creation, problem-solving and commercialisation of 4IR solutions.
Other Relevant Information to Consider Before Registration
Digital Content Grant (DCG) 2022 consists of two (2) types in which. Type 1 – Development Grant focuses on the development stage of the Project, the stage where it involves idea generation, production design, market research and marketing analysis. Type 2 – IP Marketing & Licensing Grant is a financial assistance provided to IP creators with market ready product (s). This includes IP extension, IP registration, development of style guide and other activities related to marketing, promotion, localization, commercialization, licensing or distribution.
The Applicant must be a company incorporated at least 1 year in Malaysia with minimum paid-up capital RM20,000 and the registered business activities comprising primarily in technology activities and/or creation of digital creative content.
Grant will be granted on whichever amount according to these project. Development Grant – Up to RM300,000, Development Grant (Animated Feature Film) – Up to RM500,000, note that development grant will be funded only until 8 months duration. IP Marketing & Licensing Grant – Up to 50% of the total marketing, commercialization & distribution cost or up to RM500,000 under 12 months project duration whichever is the lower.
The Digital Content Grant (DCG) Application Process
MDEC will be promoting Digital Content Grant (DCG) on MDEC’s corporate website and social media platforms with links to an online application form. First, Interested companies can visit the DCG website for more information. Then company may register and fill in the form in the MDEC Platform (#SayaDigital).
Download the application form from the MDEC Platform (#SayaDigital), Applicant to complete the DCG application form and submit the application form together with the required supporting documents and upload it to the MDEC Platform (#SayaDigital).
MDEC verifies application based on the eligibility criteria and will notify the applicants via email. Should you have any enquiries with regards to the application, kindly contact our MSC Malaysia Client Contact Centre at 1-800-88-8338 or firstname.lastname@example.org