Starts From RM6,000 To RM14,000
Per Project
RM5000 Grant
Application
Now’s your chance to get your business digitalized! The Ministry of Finance (MOF) is now offering SME Digitalisation Initiative grants up to RM5000 for SME to adopt digitalisation in daily operations.
List Of Services Offered:
E-Commerce System Development
With Payment Gateway
SEO (Search Engine Optimization)
Free Google Listing
Starts From RM10,000 To RM20,000
Per Project (6 Months Project)
Google Advertising
Paid Google Listing
Starts From RM3,000 (Not Inclusive of Ads Spending)
Per Month (Minimum of 3 Months Campaign)
Facebook Ads
Paid Facebook Marketing
Starts From RM3,000 (Not Inclusive of Ads Spending)
Per Month (Minimum of 3 Months Campaign)
Terms & Conditions
SME Eligibility:
- Available to SME and Cooperative (“Koperasi”) registered under the relevant laws of Malaysia;
- The company is at least 60% owned by Malaysians.
- The SME/ Coop has been in operation for at least (6) months; and
- The SME/Coop has a minimum average annual sales turnover of RM50,000.
Required Documents:
- Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor (s), whichever is applicable.
- Company’s bank statement for the last two (2) months.
- Quotation/invoice and service agreement from authorized vendor lister by MDEC.
- Complete Application Form & Declaration Form.
- Copy of business registration licenses (CCM, or any similar forms under the Companies Act 2016).
Application Flow:
- SME to contact and appoint TSP for digitalisation service.
- SME to complete and submit the application form along with required documents to TSP.
- TSP is to submit the application form together with the supporting documents to the Bank.
- Once the SME’s application is approved, the SME is responsible to pay the difference of the total invoice after deducting the subsidized amount granted from the initiative for each digitalisation service to TSPs.
- The Bank will make a direct 50% payment or up to RM5,000 to TSP.
Frequently Asked Questions (FAQ)
Is the company operation must be at least more than 1 year?
Yes. We are not focusing on mature companies.
If the contract is for 5 years, can we apply for the grant based on the 5 years invoice ?
No. TSP will need to separate the invoice to 1 year of service only.
If the company has multiple outlets however registered under 1 company only. Can they apply for multiple applications ?
No, the Application is for per company.
If a company sign up for 2 years and payment milestones are quarterly basis, will BSN/SME BANK accept the application?
Yes, if they meet the criteria. However, quarterly payment may be a little hassle and a 1-year pay-out is preferred.
For Franchises, they are from separate companies. Are they eligible to apply separately?
Yes, because it’s from the different companies.
If a company applies for 2 solutions, do they need to submit 2 applications?
No. Only 1 application is acceptable and up to 3 solutions with a max RM5000 grant.
If a company applies from multiple TSPs, do they have to apply for multiple applications?
No. Only 1 application and the solutions should not duplicate from 1 TSP to another.
What if TSPs provide a solution that links to 2 different companies. Can they apply 2 separate applications?
Yes as they are from different companies.
Can the company apply for software enhancement/upgrade?
The application is only for new solutions and not for new versions or upgrades. The intention is for companies to adopt new technology.
Who shall apply for the grant?
SMEs will apply for the grant.
If SMEs would like to pay the 50% to TSPS prior to approval from SME BANK/BSN, is this possible?
It is possible. However, TSPs will need to take the risk if the application is not approved.
If the company subscription is from 1 Jan 2020 until 31 December 2020, can they apply for the grant?
No. It’s for a new solution and after 17 Feb 2020 only (after the launch date).
Is it acceptable if the invoice is from a third party vendor?
The programme is between SMEs and TSPs within the ecosystem. The invoice should be from selected TSPs only.
If a company received a different grant from SME BANK, SME CORP, etc are they eligible to apply?
Yes. Different grants serve different purposes.
Will SME BANK/BSN check on the price list. Example a TSPs mark up the price with intention to meet the max RM5K grant. How does SME BANK/BSN act to this?
If SME BANK/BSN found out that any TSPs marked up the price, they will be disqualified immediately.
The eligible criteria stated for SMEs, how about Koperasi as the operate like a business entity?
If they meet all the criteria, it’s acceptable.
What if the package is inclusive training/maintenance, will the grant cover for it?
No. The grant is exclusively for the solution only.
What are Technology Solution Providers (TSPs)?
TSPs are local technology companies identified to support Malaysian SMEs in digital adoption under the SME Business Digitalisation Grant.
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