CYBERJAYA: Malaysia Digital Economy Corporation (MDEC) has announced the 2022 edition of the Global Technology Grant and 4IR Catalyst Grant and is calling for new applicants.
MDEC's Global Technology Grant (GTG) gives funding to be used for research, innovation, development, and commercialisation of products or services.
The 4IR Catalyst Grant (4ICG) on the other hand, helps technology solutions providers in need of funds in relation to the fourth Industrial Revolution (4IR) solutions for end-users.
As the leading agency in digital transformation for Malaysia, MDEC aims to ensure the country's digital agenda is fulfilled and according to its chief executive officer, Mahadhir Aziz, it is time for tech companies to further their digital agenda as the global market is currently 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 said, in a statement released by the agency.
Last year, a total of 12 companies were awarded with these grants.
The 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 per cent of the total project cost or RM2 million, whichever is lower, while the latter receiving 30 per cent 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 activities.
Similarly, they too will be able to receive up to 30 per cent of the total project cost or RM2 million, whichever is lower.
The 4ICG was 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 one year.
Applicants for the 4ICG 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 per cent of the total project cost or RM2 million, whichever is lower, while the latter receiving 30 per cent 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.
The closing date for registrations for both grants is on June 30, 2022.
Successful applicants will be notified within two months after the closing date.
Visit https://mdec.my/gtg/ or https://mdec.my/4icg for more details on the grants.
