Government and/or government related entities funded by the Government of Malaysia
Donations or charitable proceeds (cash/in-kind) received without returns expected
Contributions from grants received without returns expected
Investments with returns expected, including owner’s equity
Financing or loans received from financial institutions
Proceeds from business transactions or procurement
Intended project or business plan
Cash flow projections
Utilisation of proceeds
Impact indicators to track progress
Detailed implementation plan
Historical track record
Novelty of innovation
Effectiveness of proceed utilisation
Feasibility of proposal
Scalability of impact
Capability of management or team promoter
Successful SIM grant applicants enjoy a 20% rebate on platform fees, for the first RM 1 million raised on each platform.
Additional crowdfunding support - info sessions and promotional campaigns.
The SIM Grant will open for application starting 1 August 2020 for a period of 12 months or upon full disbursement of RM10 million, whichever comes first.
The matching ratio of the grant is at 1 to 1 (1:1) i.e. for every RM1.00 crowdfunded by the applicant, RM1.00 grant will be awarded; equivalent to the amount it has successfully crowdfunded subject to the capping amount, based on the types of applicant (Accredited SE, Non-accredited SE, and any other individual or entity).
Applicants must submit their application via an online platform determined by MaGIC. Complete information and documentation must be submitted online to facilitate evaluation by MaGIC. There are three (3) steps to the application process as follows:
Step 1 - Eligibility screening process;
Step 2 - Due diligence process, followed by evaluation and approval of the applicant by JAC;
Step 3 - Documentation and grant disbursement