Monday, December 10, 2007

Matching Grant for Business Start-ups

Financial Assistance
Small and Medium Industries Development Corporation (SMIDEC):
Matching Grant for Business Start-ups

Objective
To provide assistance in the form of matching grant to start up a business in the following sectors:
Manufacturing and Manufacturing related services; and
Services (excluding insurance and financial services)












Eligibility criteria

Business enterprise based on the definition of SMEs [Link];

Companies incorporated under the Companies Act 1965 (CA1965) or businesses incorporated under the Registration of Business Ordinance 1956 (RBO1956);

At least 60% of equity are held by Malaysians;and

Possess valid premise license







Type of assistance / Form of financing
The maximum grant allocated per company is RM40,000 whereby 50% of the total project cost is borne by the Government and the balance is borne by the applicant. For businesses in the manufacturing under RBO1956, may eligible for assistance up to 80% of the approved cost.


Eligible expenses
Expenses incurred directly in staring up a business which include among others carrying out feasibility studies, rental of equipment, development of prototype and product sampling and testing etc.


Priority sectors
Manufacturing or intend to manufacture product(s) or involve in activities or services related to manufacturing promoted under the Promotion of Investment Act (PIA) 1986, to companies participate in the Industrial Linkage Programme (ILP)

Application procedure
Applications to be submitted to SMIDEC.

Contact
Small and Medium Industries Development Corporation (SMIDEC)
Aras 20, West Wing Menara MATRADE
Jalan Khidmat Usaha
Off, Jalan Duta, 50480 Kuala Lumpur
Tel: 03-6207 6000
Fax: 03-6201 6564
Website: www.smidec.gov.my

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