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MDEC allocates RM14m in grants to 70 SMEs and start-ups

MDEC allocates RM14m in grants to 70 SMEs and start-ups

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The Malaysia Digital Economy Corporation (MDEC) has approved another RM10.5 million worth of grants for 50 small and medium-sized enterprises and start-ups. It is also in the process of disbursing RM3.5 million worth of grant claims to 20 recipients, mainly from the digital creative content industry. This comes more than a month after MDEC announced in February that it distributed RM2.35 million worth of grants for 47 grant recipients from the SME and start-up sectors.

According to MDEC, the grant allocation is part of its initiatives under the digital content grant and smart automation grant that aim to encourage local SMEs and start-ups to embrace new digital technologies and services which will increase their business productivity and sustainability. MDEC added that the funding is also part of its three strategic framework pillars - digital skills and jobs, digital businesses, and digital investments.

CEO Surina Shukri said she is confident that with this grant boost, Malaysian SMEs and start-ups can continue to gather momentum and forge ahead in these unusual times. Meanwhile, MDEC's chairman Rais Hussin Mohamed Ariff said the grants are testament to its "steadfast commitment to not leave anyone behind in line with its Shared Prosperity Vision 2030 and Malaysia 5.0". The previous RM2.35 million in grants were mainly issued to recipients from the digital creative content industry (70%), professional services (21%), and education (7%) industries.

MDEC will continue to evaluate and will announce more successful grant recipients in due course. The agency is disbursing the approved grants in batches to the respective recipients based on proof of milestones and KPIs achieved under the SAG and DCG initiative.

Photo courtesy: 123RF

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