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Enterprise Innovation Fund (EIF)

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Objective
To increase the participation of SMEs, micro businesses and individual/sole-proprietors in innovative activities through the development of new or improved products, processes or services with element of innovation for commercialisation.

Maximum tenure : 18 months

Minimum financing : RM20,000

Maximum financing : RM250,000

Participating financial institutions / Implementing Ministry / Agency
Ministry of Science, Technology and Innovation (MOSTI)

Eligibility criteria

  • Malaysian business enterprises or individual with project or product proposal that has elements of technological innovation for commercialisation, may either be :
    • The recombination, fusion or integration of technologies
    • The replication or refinement of existing technologies with improved value,efficiency or cost reduction
  • Project focus on one of the identified technology clusters
  • Proposed project or product at the pre-commercialisation stage (R&D stage) is not eligible for this fund
  • Project must be undertaken in Malaysia and individual must have qualification, experience and financial capability to finance project costs not funded by EIF

Purpose of financing

  • Project documentation, equipment and materials
  • Consultancy, testing, regulatory and standard compliances
  • Product testing including sample, fees and documentation

Eligible sector / Types of financing
Identified technology cluster includes ICT, biotechnology and other innovative technology such as Nanotechnology, alternative energy, waste to wealth, advanced material & manufacturing, radiation technology, processing technology, engineering development and environment.

Application procedure
Application to be submitted to MOSTI

Contact
Innovation Fund
Development and Procurement Division
Ministry of Science, Technology and Innovation (MOSTI)
3rd floor, Block C5, Complex C
62662 Putrajaya
Tel : 03 - 8885 8921/8937/8151/8877 (Helpdesk)
Fax : 03 -8889 4700
Email : innofund@mosti.gov.my
Website : www.mosti.gov.my

 
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