Submission of Certificate of SE Accreditation under MEDAC or Documentation to be Validated by MaGIC as according to the following SE criteria:
Clear social and/or environmental goal;
Allocates a significant amount of resources towards achieving their social or environmental goal; and
Equipped with a sustainable business model for long-term impact
Market ready products and/or services relevant to the Pilot Ministries
Fulfill conditions of e-Perolehan registration including:
Minimum paid-up capital of RM2,500
Valid bank account
Registered under the stipulated law (SSM/ROS/SKM/State Registrar)
Minimum of one employee
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