BRAND METAVERSE ONBOARDING PROGRAMME

Application date extended to 15 April, 6pm

INTRODUCTION

The programme is aimed to drive up the adoption to metaverse and accelerate the development of the digital creative content in Metaverse Platform by Brands and Digital Content Creators.

OUR OBJECTIVES

Shaping Future in the Metaverse: Collaborative Approach for Digital Success

  • Financial Assistance for Businesses in Metaverse logo

    Financial Assistance for Businesses in Metaverse

    Provide financial assistance to drive the creation of intellectual property-related content within the metaverse with Brand and Digital Content Creators.

  • Encouraging New Technology Adoption logo

    Encouraging New Technology Adoption

    Promote digital transformation in the business world by encouraging the adoption of new and emerging technologies in the virtual space.

THE INCENTIVES

Scope of the Incentive:

Up To

RM100,000

*Incentive Amount

Project Duration

Project Duration shall be up to four (4) months and commence from the date of signing of the agreement between the Recipient and MDEC.

Required Output

Metaverse content refers to digital assets, experiences, and environments created and accessible within a metaverse. This content can include 3D models, virtual spaces, interactive elements, multimedia presentations, games, applications, XR and various forms of digital media that users can engage with while navigating the metaverse. It forms the foundation for user experiences and interactions within the virtual universe.

*The Incentive Amount is subject to evaluation and assessment of the project proposal of the Applicant and is to be determined by the Evaluation Pane.

ELIGIBILITY CRITERIA

  1. Any businesses or companies registered in Malaysia and at least 50% owned by Malaysian citizens (excluding Permanent Resident);
  2. Not the subject of liquidation/winding up/bankruptcy order;
  3. Not subject to dissolution of businesses/enterprises/sole proprietorship/partnership and/or cease doing businesses as going concern;
  4. Not subject to any blacklisting from MDEC and/or any authority/statutory bodies;
  5. The Applicant to provide a Letter of Undertaking from Brand to collaborate on the adoption of the businesses to metaverse platform or any extended reality (XR) application;
  6. Not an on-going of any grant recipient from MDEC, National Film Development Corporation Malaysia (FINAS) or MyCreative Venture Sdn Bhd;
  7. Criteria for Brand Owner
  1. - Incorporated in Malaysia

APPLICATION DOCUMENTS REQUIRED

  1. Fully completed application form.
  2. Project proposal.
  3. MYDATA-SSM (Business or Company Profile), to be obtained from https://www.mydata-ssm.com.my/homePage *
  4. Business or company winding up search result, to be obtained from https://e-insolvensi.mdi.gov.my/ *
  5. Letter of Undertaking by the Applicant that the Applicant is not subject to any blacklisting from any authority/statutory bodies
  6. Letter of undertaking from Brand Owner to the Applicant
  7. Brand Owner’s latest audited report

* Any search report should be dated less than 6 months prior to the date of application to MDEC.

SCOPE OF EVALUATION

25%

Project offer a unique or groundbreaking solution to a metaverse-related problem or opportunity for the Brand

25%

Utility ideas and metaverse plan: Brief explanation of utility ideas that aim to enhance the functionality and user experience within the metaverse

25%

Well-defined and clear milestones and timelines that the project will follow to achieve its goals

25%

Commercialisation potential : The commercialisation capability based on the overall creativity, utility ideas and metaverse plan.

CLAIM DISBURSEMENT

  • SECOND PAYMENT

    Quantum Disbursement

    50%

    of the incentive

    Milestone Stage

    50% of the approved incentive upon the completion of campaign for the metaverse platform

    Progress Submission

    The 2nd payment to recipient is made upon the delivery of the following:-

    1. Project plan and progress report;
    2. Project Budget and Financial Information;
    3. User Testing & Feedback;
    4. Campaign Report; and
    5. Project completion letter from Brand.
  1. The claim disbursement process will be based on the progress milestone claims, which is based on completed submission and achievements of the verified deliverables by MDEC and in accordance with the agreement.
  2. The Recipient is required to submit the required supporting documents (including any proof of payment substantiating expenses/incurred costs) for claims processing on MDEC einvoice system

SUBMISSION GUIDELINES

  1. All applications must be submitted online. Kindly click at the Submit Now button below to submit, no later than the respective date.
  2. Upon closing of the submission, a due diligence will be conducted on the applications received.
  3. Eligible Applicants will be invited for a pitching session to present their project proposal to the Panel of Judges.
  4. All Applicants will be notified via email on the official result after the pitching session.
  5. All selected Applicants, namely the Recipients are required to sign an agreement with MDEC to govern the grant and disbursement of the incentive.
  6. The Recipient may apply to MDEC for a maximum of 3-months extension or any project issues resolution by serving a written request to MDEC not less than one (1) month from the expiry of project duration or such other period as agreed by MDEC, together with its justification and supporting documents for such request. MDEC shall have all the rights to approved or reject the request.
  7. Once the extension has been approved, the project duration shall be extended to include the extension period and Availability Period. There will be no changes on the approved amount should there be any extension approved.

DONT WAIT ANY LONGER!

Seize the opportunity and apply now to be part of this groundbreaking programme!

Frequently Asked Questions