MIDF Grant: Geran Inovasi & Pengkomersialan Vendor

This grant assists Bumiputera Vendor Companies to create or improvise innovative products, services or processes.

Objectives

1. Create new products/services/processes that focuses on market needs and future innovation;
2. Improvise the existing products/services/processes that optimize Vendors productivity, sustainability and technology advancement; and
3. Accelerate the commercialisation of products/services/processes to increase opportunities for Vendors to become global players.

Eligibility Criteria

The Vendors must comply with the following criteria:

1. Registered with Anchor companies under VDP, MEDAC;
2. Fulfill the criteria set out under the National VDP Guidelines;
3. Sound financial position;
4. Solvent and has no legal action against the companies under the laws of Malaysia; 
5. Obtain acknowledgement/support from Anchor companies; and
6. Currently no on-going project under Geran Inovasi dan Pengkomersialan Vendor (GIPV) RMK-12 (2021–2025)/Geran Penyelidikan dan Pengkomersialan Vendor (GPPV) RMK-11 (2016–2020). 

Scope of Project

The Grant focuses on market driven products, processes and services and is supported by Anchor companies through any two (2) of the following phases:

1. Pre-commercialisation; and/or 
2. Commercialisation. 

Note: Projects under the earlier phases of Research & Development (R&D) can be considered and subject to approval.

Eligible Items

Expenditures deemed appropriate for the development of products, services and processes in the pre-commercialisation and commercialisation phases can be considered. Example of the expenditures are as follows:

1. Purchase/subscription/rental of machines, equipment and tools;
2. Purchase/subscription/rental of IR4.0 related systems;
3. Preparation and Registration of Intellectual Property (IP) in Malaysia (excluding maintenance) – new & existing IP;
4. Regulatory and Standards Compliance Requirements/Certification;
5. Services Expenses (consultation/testing);
6. Contractual expenses;
7. Acquisition of Technology & IP; and
8. Any other items/expenses as approved.

Purchase of Fixed Assets not related to the project is NOT ALLOWED.

Concept of Grant

The funding of this Grant is up to 90% of the total cost or maximum of RM1 million, whichever is lower.

Duration of Project

Minimum of 6 months and maximum of 24 months as approved followed by an outcome evaluation within 6 months after the completion of the GIPV project.

Disbursement of Grant

Reimbursement basis or direct payment to the Supplier or equivalent as endorsed and based on the percentage of work completed in line with the approved milestone.

Project Monitoring

1. MIDF will monitor the project in compliance with the Agreement;
2. MIDF reserves the right to propose for a suspension or revocation of the Grant facility should the Vendors fail to comply with the terms set out in the Agreement;
3. The Vendors are required to submit the Progress Report as specified in the Agreement; and
4. The Vendors are required to submit the Project Completion Report after completing the project. 
    

Termination of Grant

The grant may be terminated under reasonable circumstances which include:

1. False information submitted by the Vendors;
2. Misuse of the grant;
3. Failure to comply with the level of progress in the approved milestone; and
4. Breach of the terms of the Letter of Award including Agreement executed between MIDF and the Vendors.

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