MASTIC

1. Small and Medium Enterprises (SMEs) and Start-ups that are based on/related to technology and innovation must comply with the following conditions for the SRF-APP Fund application:

2. Open to Companies and Businesses registered with the Companies Commission of Malaysia (SSM), while businesses in Sabah and Sarawak must be registered with the Local Authority.

3. Definition of Start-up: A technology- or innovation-enabled business at an early stage with a scalable business model and a high-growth strategy.

4. Eligibility criteria for Start-ups are as follows:
i. Registered with the Companies Commission of Malaysia (SSM);
ii. Majority ownership by Malaysian citizens (>50%);
iii. Paid-up capital of at least RM10,000.00;
iv. At least two (2) company directors;
v. Business based on/related to technology and innovation; and
vi. Company operations not exceeding 5 years.

5. For applicants from companies with non-majority Malaysian ownership (<50%), the following additional conditions must be met:
i. Applicants must have a minimum qualification in terms of proof of concept (POC) or a functioning prototype;
ii. The company operates in Malaysia; and
iii. At least 70% of employees are Malaysian citizens.

6. For applications from SMEs, Multinational Companies (MNC), and Large Companies, this fund is offered as a matching grant where the company must finance at least 30% (monetary or in-kind) of the total project cost.

7. Project applications from APP must collaborate with strategic partners from the industry or other stakeholders for commercialisation purposes.

8. APP can be involved in the project as a service provider to the entity. However, APP is not allowed to act as a collaborator to avoid conflict of interest issues.

9. APP and the entity must reach a mutual agreement at the early stage of the application regarding project implementation planning and the method of allocation or payment distribution to ensure smooth project execution before the agreement is signed.

10. The applicant or project team members have never been convicted of fraudulent activities or declared bankrupt.

11. The company has never been convicted of fraudulent activities, declared to be wound up, in dissolution, or under receivership.

12. The Project Leader, who is a Malaysian citizen, can involve project members from international organisations or expatriates working from the same institution.

13. Whereas a Project Leader who is not a Malaysian citizen is allowed to apply provided:
i. The work permit is valid throughout the project implementation period; and
ii. Must have a project member who is a Malaysian citizen from the same institution.

14. The Project Leader is only allowed to lead one project under MOSTI approval at a time.

15. Researchers working under the contract of Government Research Institutions/Government STI Agencies/Public and Private Higher Education Institutions must ensure that the employment contract remains valid throughout the project period.

16. The project team must consist of qualified and competent members in the technical aspect of the entire project. Each team member must provide a resume (curriculum vitae) clearly detailing the research field, experience, and achievements.

17. Applicants are allowed to submit multiple applications for different projects provided the applicant has strong human and financial resource capabilities.

18. The project must be implemented in Malaysia.

19. For project applications under the priority field, the proposed project must be at the pre-commercialisation stage with at least proof of concept or a functioning prototype.

20. The Project Leader must inform MOSTI if they have received funds from other parties for the same project.