SME Business Digitalisation Grant2020-07-07T17:21:17+08:00

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Official MDEC Announcement

Malaysian SMEs can now apply for government-matched grants

In conjunction with 2020 Budget, the Ministry of Finance (MOF) is giving out grants to Small & Medium Enterprises (SME) to adopt digitalisation in daily operations.

The Government will provide a 50% matching grant of up to RM5,000 per company for any digital marketing services. This matching grant will be worth RM500 million over 5 years, limited to the first 100,000 SMEs applying to upgrade their systems.

SME Digitalisation Initiative

50% discount for all SMEs Digital Solutions

Now is your best chance to get your business digitalised!
SME Eligible

SME Eligibility & Application Process

  1. The company is at least 60% owned by Malaysian.
  2. The company registered under the relevant laws of Malaysia.
  3. The SME has been in operation for at least one (1) year.
  4. Company operation in one (1) year, company required to have a minimum annual sales turnover of RM 100,000.
  5. Company operation > two(2) years, company required to have a minimum annual sales turnover of RM 50,000 (preceding two (2) consecutive years).

➡ Read more Terms & Conditions 

  1. Complete the SME Digitalisation Initiative Application Form.
  2. Prepare the following documents:
    • Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s).
    • Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A).
    • Audited financial statement for the last financial year and the latest management account. (if any) or evidences of sales turnover (if any).
    • Company’s bank statement for the last two (2) months.
    • Company’s profile (if any).
    • Quotation/Invoice from VeecoTech.
  3. Send all documents to these 2 emails:
    – SmeDigitalizationGrantPulauPinang@bsn.com.my
    – cc to billing@veecotech.com.my
SME Eligible

Eligibility requirements to claim SME grant

  1. The company is at least 60% owned by Malaysian.
  2. The company registered under the relevant laws of Malaysia.
  3. The SME has been in operation for at least one (1) year.
  4. Company operation in one (1) year, company required to have a minimum annual sales turnover of RM 100,000.
  5. Company operation > two(2) years, company required to have a minimum annual sales turnover of RM 50,000 (preceding two (2) consecutive years).

➡ Read more Terms & Conditions 

  1. Complete the SME Digitalisation Initiative Application Form.
  2. Prepare the following documents:
    • Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s).
    • Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A).
    • Audited financial statement for the last financial year and the latest management account.
    • Company’s bank statement for the last two (2) months.
    • Invoice from VeecoTech.
  3. Send all documents to these 2 emails:
    – SmeDigitalizationGrantPulauPinang@bsn.com.my
    – cc to billing@veecotech.com.my

Documents Required for Application

The specific set of documents to be submitted is dependent on the type of business entity of the applicant.

Required Documents
Type of Entity
Sdn Bhd Registered
Before 31 Jan 2017
Sdn Bhd Registered
After 31 Jan 2017
Sole ProprietorPartnership
Completed SME Digitalisation Initiative Application Form
Copy of Identity Card or PassportDirector(s)Director(s)Proprietor(s)Partner(s)
Copy of business registration licenses• Form 9, 24, 49, and M&A
• Form 13 (if any)
• Section 17, 14, and 58
• Section 28 and 78 (if any)
• Form A / B• Form A / B
Audited financial statement for the last financial year and/or the latest management account
Company’s bank statement for the last two (2) months
Company’s profile (if any)
Invoice/billing and service agreement with the SME company stamp and signature
Proof of Payment
Any other information and documents as and when required by the bank

Interested but not sure how to proceed?

Fill up the form and we shall contact you right back
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Frequently asked questioned

  1. SME business digitalisation grant was announced by the ministry of finance under the 2020 budget to support SMEs to adopt digitalisation measures for their operations.
  2. The Government will provide a 50% matching grant of up to RM 5,000 per company for the subscription of selected digital solutions from VeecoTech.
  3. This matching grant will be worth RM 500 million over 5 years, limited to the first 100,000 SMEs applying to upgrade their systems.
  1. The SME is at least 60% owned by Malaysian individual.
  2. The SME is registered under the relevant laws of Malaysia and classified as SME.
  3. The SME has been in operation for at least one (1) year.
  4. For SMEs which has been in operation for one (1) year, the SME is required to have a minimum annual sales turnover of RM 100,000 for the first year.
  5. For SMEs which have been in operation for two (2) years or more, the SME is required to have a minimum annual sales turnover of RM 50,000 for the preceding two (2) consecutive years.

i) Grant
This matching grant is limited to one (1) application per SME only, however, SMEs are allowed to apply up to three (3) digital services with one (1) or more service providers that is endorsed by MDEC (“Service Provider”).

ii) Availability
This grant facility is provided by the Government for a period of five (5) years beginning from 17th February 2020 or upon reaching 100,000 applications, whichever comes first.

iii) Fees
No fees imposed.

  1. Select one of our SME digital solutions, then reach out to us to let us know you are interested in the SME grant.
  2. Download the form and and fill up the required details. Then attach the required documents along with your form.
  3. You can submit all documentation and application form to these 2 emails:
    – SmeDigitalizationGrantPulauPinang@bsn.com.my
    – cc to billing@veecotech.com.my
  4. Once approved, the bank will pay 50% of the invoice amount directly to VeecoTech.
  1. Completed SME digitalisation initiative application.
  2. Copy of identity card or passport of director (s) / partner (s) / proprietor(s), whichever is applicable.
  3. Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A or any similar forms under the Companies Act 2016).
  4. Audited financial statement for the last financial year and the latest management (if any) or evidences of sales turnover (if any).
  5. Company’s bank statement for the last two (2).
  6. Company’s profile (if any).
  7. Invoice/billing and service agreement from authorized vendor listed by MDEC.
  8. Any other information and documents as and when required by the bank.

Eligible SME members have the right at any time to:

a) Inquire about the use of Personal Data by contacting the Bank
b) Withdraw the permission given to use Personal Data;
c) Request any amendments/updates be made to the Personal Data

For more information, please contact the numbers below:-

BSN (Bank Simpanan Nasional)
1-300-88-1900

SME Bank (Small Medium Enterprise Development Bank Malaysia Berhad)
03 – 2603 7700

Claim your 50% SME Digitalisation Grant Today!

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