InnoFund

INTRODUCTION
InnoFund is a grant scheme which funds the development or improvement of new or existing products, processes or services with elements of innovation. The project must have economic value and improves the societal well-being of the community. InnoFund can be categorized into Enterprise InnoFund (EIF) and Community InnoFund (CIF).

 

ENTERPRISE INNOFUND (EIF)
OBJECTIVES
To increase the participation of micro-businesses, individuals in innovative activities and encourage technological innovation of new or existing products, process or services for commercialisation.

 

SCOPE OF FUNDING
The funding will cover the following:

• Specialised Equipment;
• Pre-Clinical/ Clinical Trial/ Field Trial (if applicable);
• IP Preparation and Registration in Malaysia only (excluding maintenance);
• Market Testing;
• Regulatory and Standard Compliance;
• Expenditure for Services not exceeding 40% of project cost (consultancy/ testing); and
• Raw materials

 

PROJECT DURATION
The project duration is up to 12 months.

 

QUANTUM OF FUNDING
The quantum for each project is up to RM50,000.00 for Individual/ Sole proprietor and RM500,000.00 for Micro/ Small Companies.

 

COMMUNITY INNOFUND (CIF)
OBJECTIVES
To assist community groups in translating knowledge and ideas into products, processes or services that improve the socio-economic standing and quality of life of the community.

 

SCOPE OF FUNDING
The funding will cover the following:

• Specialised Equipment;
• Pre-Clinical/ Clinical Trial/ Field Trial (if applicable);
• IP Preparation and Registration in Malaysia only (excluding maintenance);
• Regulatory and Standard Compliance;
• Expenditure for Services not exceeding 40% of project cost (consultancy/ testing); and
• Raw materials

 

PROJECT DURATION
The project duration is up to 18 months.

 

QUANTUM OF FUNDING
The quantum for each project is up to RM500,000.00.

 

Notes:
1. The InnoFund will not cover the following items:

• Any expenditure outside the stated funding components;
• Purchase or rental of non-critical assets such as building, vehicles and furniture;
• Construction of new infrastructure. However, infrastructure renovation is permitted if critical to the project and verified by authorised bodies;
• Utilities;
• Travelling costs;
• Salary or allowances of any personnel employed by the applicant (except as stated for IHLs and GRIs); and
• Collateral or loan for any purpose.

2. The following cases are not eligible for funding under InnoFund:

• Project under the purview of certain Ministry, Department or Agency other than MOSTI (except for CIF);
• Applications from the Research Wing of Government Linked Companies (GLC);
• Applications from Research Institutes with internal research funding such as CESS Fund;
• Applications from large and established companies; and
• Applications from trading companies.

3. An applicant can only be project leader of one InnoFund grant or any other R&D grant under MOSTI at any one time.

 

Source: Ministry of Science, Technology & Innovation (MOSTI)’s Website