KUALA LUMPUR, Oct 13 -- The Malaysia Digital Economy Corporation (MDEC) has launched the 4IR Catalyst Grant (4ICG) in support of scaling up Malaysian-based technology companies.
Chief digital industry officer Gopi Ganesalingam said the introduction of the 4ICG is to increase productivity, product quality, improve quality of life and preserve the ecological integrity of 10 key economic sectors and six supporting sectors of the Malaysian economy as outlined in the national policy on the Fourth Industrial Revolution (National 4IR Policy).
“The grant is expected to increase the visibility of Malaysian-based technology companies and growth in revenue and exports from Malaysian-based 4IR tech companies.
“This adds towards achieving the goals set forth by the Malaysia Digital Economy Blueprint (MyDIGITAL) to transform the country into a digitally-driven, high-income nation and towards making Malaysia the Heart of Digital ASEAN,” he said in a statement today.
MDEC said key sectors identified for the grant applicants are wholesale and retail trade, transportation and logistics, tourism, finance and insurance, healthcare, agriculture and education.
It said supporting sectors included construction, real estate, mining and quarrying, information and communication services, arts, entertainment and administrative and support services.
“The grant is looking to target up to 20 applicants with the duration of funding for a project period of up to one year and the closing call for submissions is in November with the evaluation and approval process to take place by December,” it said.
It said successful local applicants would be awarded up to 50 per cent of the total project cost, subject to a ceiling limit of RM2 million, whichever is lower, while chosen foreign-owned companies would be awarded up to 30 per cent of the total project cost, subject to a ceiling limit of RM2 million, whichever is lower.
MDEC said grantees would also be enrolled in MDEC’s GAIN programmes and would benefit from market access, business matching, funding facilitation and mentoring opportunities.
“They also stand to benefit from revenue and export increase, upskilling and increased chances in receiving investments,” it added.
More information on 4ICG is available via https://mdec.my/4icg.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
