19.05.2022
Categories: industry, investors, people

MDEC Launches the Global Technology Grant and 4IR Catalyst Grant

  • Up to RM2,000,000 worth of grants available to each successful applicant for commercialisation or digitalisation
  • Both grants aim to push for innovation, digitalisation and 4IR technology adoption to ensure businesses stay at the forefront and remain competitive and future-proof

 

CYBERJAYA, 19 May 2022: Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in digital transformation, has announced the 2022 edition of the Global Technology Grant (GTG) and 4IR Catalyst Grant (4ICG) and is calling for new applicants.

The GTG provides applicants access to funding for research or innovation, development and commercialisation of innovative commercial product or service, while the 4ICG helps technology solutions provider to co-create, problem-solve, innovate, and deploy 4th Industrial Revolution (4IR) solutions in partnership with an end-user.

CEO of MDEC, Mahadhir Aziz said the time is now for technology companies to further their digital agenda as the global market is hungry for solutions that reduce the digital divide.

“The GTG and 4ICG grant provides tech companies the necessary funding to go further with their products and services aside from fostering technology champions, attract investment and incubate innovation for the digital ecosystem.

“MDEC is confident that great innovations will be coming from the grant applicants as we will continue to enable ecosystems conducive to drive Malaysia forward towards becoming the preferred digital hub,” he added.  

GTG is open to technology companies or start-ups that are ready to venture into their first global market or want to expand their existing global presence with further product and service commercialisation, with a maximum project duration of two years.

Applicants can be of locally-owned or foreign-owned companies with the former receiving up to 50 percent of the total project cost or RM2 million, whichever is lower, while the latter receiving 30 percent of the total project cost or RM2 million, whichever is lower.

The GTG is also open to foreign technology companies to set up Centres of Excellences in Malaysia that are focused on conducting high value innovation and research and development (R&D) activities.

Similarly, they too will be able to receive up to 30% of the total project cost or RM2 million, whichever is lower.

Meanwhile, the 4ICG is designed to catalyse the use and development of 4IR 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 with a project duration of 1 year.

4ICG applicants can consist of technology solution providers and must be able to demonstrate that they have secured the commitment of the end-user to fund their share of the project cost at the time of application.

They can be locally-owned or foreign-owned companies with the former receiving up to 50 percent of the total project cost or RM2 million, whichever is lower, while the latter receiving 30 percent of the total project cost or RM2 million, whichever is lower.

Among the key focus sectors for 4ICG applicants are the wholesale and retail trade, transportation and logistics, tourism, finance and insurance, utilities, professional, scientific, and technical services, healthcare, education, agriculture, and manufacturing.

The proposed solutions to the end user must be developed on the foundation of artificial intelligence (AI), Internet of Things (IoT), blockchain, cloud computing and big data analytics.

In 2021, 12 companies were approved as the recipients of these grants. 

Applications for both the GTG and 4ICG are now open until 30 June 2022 and companies are eligible to apply for either one of the grants available, based on their proposed project.

Successful applicants will be announced within two months of the application closing date.

For more details about the requirement, eligibility and timelines, visit https://mdec.my/gtg/ or https://mdec.my/4icg to find out more.

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About Malaysia Digital Economy Corporation (MDEC)

Malaysia Digital Economy Corporation (MDEC) is the agency under the Ministry of Communications and Multimedia Malaysia leading the digital transformation of the economy for 25 years. We aim to enable a progressive, innovation-led digital economy.

MDEC will continue to lead Malaysia towards becoming a globally competitive digital nation through the development and execution of the Malaysia Digital initiative, which aims to create substantial digital economic spill-over through equitable access to digital tools, knowledge, and income opportunities.

Predicated on a new framework built upon three primary components – Agility, Flexibility, and Relevance – Malaysia Digital is set to enhance Malaysia’s value proposition to attract digital investments, firmly establishing Malaysia as the digital hub of ASEAN.

#SayaDigital #MalaysiaDigital

To find out more about MDEC’s Digital Economy initiatives, please visit us at www.mdec.my or follow us on: Facebook: https://www.facebook.com/MyMDEC/ Twitter: @mymdec

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