Starting January 1st 2017, all previous mosti funds have been consolidated into Smart Challenge Fund, Innofund and Community Innovation Fund
Smart Challenge Fund
The Smart Challenge Fund (SMART Fund) is the government's initiatives which are open to businesses and researchers interested in competing for funding opportunities for strategic and prioritized needs like new technologies, processes and products. It is basically a pre-commercialisation fund.
Through this scheme, the Government will be investing in pre-commercialisation of technologies, processes, products that are highly innovative which can be translated into marketable output to spur the economy as well as for societal benefit.
The objectives of this fund are divided into two categories:
1.to tackle strategic issues that will provide long term solutions, thus, ensuring commercialization of new R&D products to spur economic returns for the country. This fund covers pre-commercialisation stage with the technology readiness level (TRL) 4.
2.to tackle prioritized issues that need immediate solution leading to improvement of societal wellbeing. This fund covers pre-commercialisation stage with the technology readiness level (TRL) 6.
Enterprise Innovation Fund
The aim of the Enterprise Innovation Fund is to increase the participation of micro-businesses and individuals in innovative activities and encourage technological innovation of new or existing products, process or services for commercialisation.
Enterprise Innovation Fund :-
For Individual / Sole proprietor - RM50,000.
For Micro/Small Companies - RM 500,000.
Community Innovation Fund
The aim of the Community Innovation Fund is to assist community groups in translating knowledge and ideas into products, processes or services that improve the socio-economic standing and quality of life of the community.
Community Fund - RM 500,000.
For enquiry, please email to email@example.com for more information.