MASTIC

1. Small and Medium Enterprises (SMEs) and technology and innovation-based start-ups must adhere to the following conditions for the Bridging Fund application:
1.1 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.
1.3 Definition of Start-up: A business in its early stages enabled by technology or innovation with a scalable business model and a strategy for high growth.
1.4 Eligibility criteria for Start-ups are as follows:
i. Registered with the Companies Commission of Malaysia (SSM);
i. Majority ownership by Malaysian citizens (>50%);
ii. Minimum paid-up capital of RM10,000.00;
iii. At least two (2) company directors;
iv. Business based on/related to technology and innovation; and
v. Company operations not exceeding 5 years.

2. For applications from SMEs, 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.

3. Applicants must submit a market study related to the project.

4. All company categories must have a minimum of 51% equity held by Malaysian citizens.

5. STI Agency refers to agencies that carry out research functions and services related to STI under MOSTI.

6. Applicants are required to collaborate with Government Agencies or related external agencies to implement technology through consulting services registered with the relevant body or collaborator unless the applicant can prove the implementation of technology without consulting services (proof of documentation is at least a Letter of Acceptance (LOA) or equivalent documents).

7. Applicants collaborating with Public and Private Higher Education Institutions, GRI, or STI Agency must appoint a Research Officer (RO)/ Graduate Research Assistant (GRA). (proof of documentation is at least a Letter of Acceptance (LOA) or equivalent documents).

8. Company directors or project team members have never been convicted of fraudulent activities, or the company has been declared bankrupt, or in dissolution, or under receivership.

9. Project Leaders consisting of Malaysian citizens can involve project members from international organisations or expatriates working from the same institution.

10. Whereas non-Malaysian Project Leaders are allowed to apply provided:
i. the work permit is valid throughout the project implementation period; and
ii. project members must consist of Malaysian citizens with the same expertise and from the same institution.

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

12. 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.

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

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

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

16. The project must be implemented in Malaysia, but some project activities can be carried out abroad with approval from MOSTI.

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

18. Project applications related to security and defense enforcement (police and military) will not be funded under this scheme.