MDEC disburses US$1.33 mil to 45 SME grant recipients
By Digital News Asia September 2, 2021
- Marks completion of MDEC’s grant framework with governance, speed
- Framework builds on Input-Output-Outcome-Impact (IOOI) model
MDEC, Malaysia’s lead digital economy agency, announced today it has disbursed US$1.33 million (RM5,524,896.00) to 45 recipients under four grant programmes; Global Technology Grant (GTG), Digital Content Creators Challenge, Digital Content Grant, and the #SMART Automation Grant (SAG). The announcement also indicates that MDEC’s new grant framework is now completed and fully operational.
These disbursements to SMEs and mid-tier companies across multiple industries, will accelerate digital adoption and digital creative content, further driving the positive trajectory of the country’s digital economy.
The new grant framework will also allow the agency to provide adequate funding to the right recipients with an emphasis on governance, transparency and speed.
The GTG is an initiative aimed at nurturing global champions and a digital innovation ecosystem by supporting research and development, empowering innovation, and establishing Centres of Excellence.
The SAG is a matching grant that helps SMEs in the services industry, primarily retail, wholesale, F&B, tourism and logistics to enhance and improve their businesses via digital tools.
The Digital Content Creators Challenge, formerly known as IPCC and DICE, is a platform for local digital content companies encompassing animation, video games and digital comics to hone their creativity and accelerate the development and commercialisation of digital content.
Lastly, the Digital Content Grant is an initiative under the Malaysian government’s PENJANA Economy Recovery Plan designed and created to support local digital content companies in the development and marketing of their content.
“In 2020, when MDEC undertook its ‘Reinvent’ mission, I understood that a new grant evaluation and approval framework that focuses on rewarding rightful recipients without sacrificing governance, transparency and integrity was needed to further advance the digital economy.
“The new grant framework builds on our Input-Output-Outcome-Impact (IOOI) model. These grants are executed with ease of access and transparency in mind – all information of our grants are made public through the mainstream media and our social media, ensuring that we cover everyone from Perlis to Sabah. What matters is the know-how, not the know-who,” said Dr Rais Hussin Mohamed Ariff, Chairman, MDEC.
MDEC recently launched two grants; the Global Technology Grant 2021 opened for submission on 26 August 2021. Closing date for submissions is on 15 September 2021. Applicants can find more information at www.mdec.my/gtg.
The #SMART Automation Grant 2021 opened for submission on 26th August, with a four week call for submissions. Applicants can register and check their eligibility criteria at mdec.my/sag.
Celebrating its 25th anniversary as the key mover of Malaysia’s digital ambitions, MDEC leads Malaysia’s digital economy forward towards becoming a globally competitive digital nation, anchored on innovation, sustainability, and shared prosperity, firmly establishing Malaysia as the Heart of Digital ASEAN.
To achieve this, MDEC will execute on its NADI (Nadi Digital) framework, based on the four thrusts: New skills, Adoption, Disruptors and Investments.