The Malaysia Digital Economy Corporation (MDEC) has announced the #SMART Automation Grant (SAG) as part of the government’s initiative to expand support for Small and Medium Enterprise (SMEs) to make the digital leap.
The SAG takes a partnership approach between the government and SMEs to drive forward digitalisation for Malaysian businesses.
Eligibility for businesses that are keen on applying for the grant will include the requirement to be incorporated in Malaysia, has a paid-up capital of RM50,000 and a minimum of 51 percent equity held by Malaysians.
Sectors that will qualify include retail, wholesale, food and beverages, tourism, logistics, transportation, education, healthcare, real estate and professional and financial services.
Upon being qualified by MDEC, SMEs will be required to present their business case for fast-track approval to an evaluation committee who will provide a decision within 24 hours.
The grant is also available for 50 percent of the total project cost or up to a maximum grant cap of RM 200,000, whichever is lower.
“The introduction of this grant is timely for many as it will give them the support needed to take that digital leap onto the Fourth Industrial Revolution (4IR) era,” said Surina Shukri, chief executive officer, MDEC.
SMEs in the services space are encouraged to participate in capability building programmes run by MDEC that drive digitally powered businesses, such as 100 Go Digital and Digital Transformation Acceleration Programme 2.0.
SMEs who are interested can check their eligibility here