Technology Innovation for Globalisation Fund (TIG)
Technology Innovation for Globalisation Fund (TIG) is aimed at assisting local MSC Malaysia Status Companies to accelerate the development and commercialisation of innovative, market driven product/solutions/services for global market.
- Is based on competitive bidding fund. Fund is awarded to the best bidder(s).
- Supports all technology areas but funding preference is given to proposed projects related to these technology areas such as Big Data Analytics, IoT, Cloud, eCommerce, Security, Games, 3D Printing, Mobile Technology/Computing or combinations of two or more of the said technology areas.
- Is a performance-based fund, i.e. applicants spell out realistic and achievable technical and commercial targets. Disbursements of TIG are on reimbursement basis upon meeting the said technical and commercial targets.
- Supports market-driven, innovative product development with high commercial potential – applicants are encouraged to gather and address market demand as well as identify pilot implementation(s).
- Supports end-to-end funding as it covers product development and commercialisation costs.
- The Company:
- Is a company incorporated in Malaysia; and
- Is not the subject of a winding up order; and
- c. Has a paid up capital of at least RM100,000; and
- With no going concern issue and/or not dormant; and
- Has more than 50% of the ultimate legal and beneficial ownership of the Applicant is vested in Malaysian(s). This include both direct and indirect ownership; and
- a) Is not a recipient of, or has previously received any funding for the same product development and commercialisation deliverables under the Proposed Project from MDEC and/or any other Government Ministries or agencies; and
b) Has previously received any such funding for a different product development and commercialisation project(s) such project(s) has been completed successfully; and
- Is not a recipient of, or has previously received any funding under TIG (formerly known as PCF) from MDEC; and
- Is and has been an MSC Malaysia Status Company for at least 6 months as at the date of application and complies with all conditions thereunder, including has responded to quarterly AQIR surveys conducted by MDEC; and
- Not listed on local and/or international bourses and is not a company in which more than 50% of its ultimate legal and beneficial ownership (direct or indirect) is vested in a listed company; and
- Work on the Project (which is the subject of the Grant application) has not been completed as at the date of application.
- TIG grants up to 50% of the approved total project cost or up to a ceiling of RM 800k per project whichever is lower; out of which, cost of product development phase can range from 30%-70% and the remaining balance is for the cost of commercialisation phase.
- Each project is funded for up to 1 year 6 months only (4 months to 1 Year of Product Development phase and up to 6 months of Commercialisation phase).
- Mandatory creation of at least 1 Intellectual Property
- Achieved sales target within 6 months after completion of Product Development phase.
A non-refundable processing fee of RM2,000 (excluding GST) is payable upon submission of the final application documents
TIG Application Process