MASTIC

1. Small and Medium Enterprise Company (SME)/ Single Proprietorship Company/ Partnership / Limited Liability Partnership based / related to technology and innovation must comply with the following conditions:
1.1 Businesses registered with the Companies Commission of Malaysia (SSM) under the Registration of Businesses Act 1956 and the Partnership Act 1961; Or
1.2 Businesses in Sabah and Sarawak registered with Local Authorities; Or
1.3 Businesses must also be registered with statutory bodies for professional service providers.

2. The applicant needs to comply with the following conditions:
2.1. Applicants from the category of associations/cooperatives/NGOs/start-up companies
(start-up)/SME companies must be registered/recognized by the Government.
2.2. The applicant shall show proof of financial ability to support the share of the cost of the project not funded under this grant. (Example: Latest three (3) months Bank Statement)
2.3. The application from the individual must be accompanied by a letter of support from the referee. (The referee refers to an authorized body or individual).

3. Defination of start-up: A technology- or innovation- enabled business at early stage with a scalable business model and a high-growth strategy.
3.1. Eligibility criteria for start-ups are as follows:
i. Registered with the Companies Commission of Malaysia (SSM);
ii. Majority ownership of Malaysian citizens (>50%);
iii. Paid-up capital of at least RM10,000.00;
iv. Have at least two (2) directors of the company;
v. Technology-based/technology-related businesses and innovations;and
vi. The operation of the company shall not exceed 5 years.

4. For SMEs or start-ups, whose ownership does not reach the majority of Malaysian citizens (<50%), the following additional requirements must be complied with, namely:
i. The applicant has minimal qualifications in terms of proof of concept (POC) or working prototype,
ii. The Company operates in Malaysia; And
iii. At least 70% of employees are Malaysian citizens.

5. For applications from SMEs, the fund is offered by matching grant whereby the company must fund at least 30% (monetary or in-kind) of the total cost of the project.

6. All applicants must be registered in Malaysia.

7. Only Malaysian citizens can apply and lead the project applied for. For non-Malaysians from any international organization or expatriate can participate in the project as a member of the project team.

8. The director of the company or members of the project team have never been convicted of fraudulent activities or the company is declared bankrupt, or in liquidation or under receivership.

9. Project Leaders are only allowed to lead one project under the approval of MOSTI at a time.

10. The project team must consist of members who are qualified and competent in the technical aspects of the entire project. Each team member should provide a resume (curriculum vitae) that clearly outlines their research field, experience, and achievements attained.

11. If the project members are from different institutions, a letter of authorization from the head of the department must be submitted.

12. Applicants are allowed to submit several applications for different projects provided that the applicant has the ability of terms of strong human resources and finance.

13. Projects must be implemented in Malaysia.