MDEC opens application for Global Technology Grant, 4IR Catalyst Grant
KUALA LUMPUR: The Malaysian Digital Economy Corporation (MDEC) has opened applications for the 2022 edition of the Global Technology Grant (GTG) and 4IR Catalyst Grant (4ICG) for interested companies.
GTG provides access to funding for research or innovation, development and commercialization of innovative commercial products or services to applicants, while 4ICG assists solution technology providers in creating, solving problems, innovating and implementing the Fourth Industrial Revolution (4IR) in partnership with end users.
MDEC chief executive officer Mahadhir Aziz said it was time for technology companies to pursue their digital agenda as the global market was now waiting for a solution to bridge the digital divide.
“The MDEC Technology Grant Program offers GTG and 4ICG Grants by providing technology companies with the funding needed to continue to grow with their products and services as well as produce technology champions, drive investment and catalyze digital ecosystem innovation.
“MDEC is confident that the best innovations will be obtained from the grant applicants and we will continue to provide a conducive ecosystem to drive Malaysia forward to become the digital hub of choice,” he said in a statement, on Thursday.
GTG is open to technology companies or start -up companies that are ready to explore their first global market or want to expand their existing global position by commercializing their products and services subsequently, with a project duration not exceeding two years.
Eligible and approved locally -owned company applicants will receive up to 50% of the project cost value or up to RM2 million, whichever is lower, while eligible and approved foreign -owned company applicants will receive up to 30% of the project cost value or up to RM2 million, whichever is lower.
Meanwhile, 4ICG is designed to catalyze the adoption and development of 4IR technology into key business verticals as set out in the National 4IR Policy.
Among the key sectors for 4ICG applicants are warehousing and retail trade, transportation and logistics, tourism, finance and insurance, utilities, professional, technical services, health, education, agriculture and manufacturing.
The solutions proposed to end users must be developed based on artificial intelligence (AI), Internet of Everything (IoT), blockchain, cloud computing and big data analytics.
Applications for GTG and 4ICG are now open until 30 June 2022 and eligible companies can apply for one of the grants based on their project proposals.
source – DagangNews.com
