MASTIC

1. Small and Medium Enterprise (SME) Companies and Start -up Companies (start-up) must comply with the conditions below for SRF Fund application:
    1.1 Open to Companies and Businesses registered with Companies Commission of Malaysia (SSM) while Business in Sabah and Sarawak need to be registered with the Authority Local.
    1.2 Definition of Start-up Company (start-up): A technology- or innovationenabled business at early stage with a scalable business model and a high-growth strategy.
    1.3 Eligibility criteria for Start-up Companies (start-up) are as follows the following:
          i. Registered with the Companies Commission of Malaysia (SSM);
          ii. Majority ownership of Malaysians (> 50%);
         iii. Paid-up capital of at least RM10,000.00;
         iv. Have at least two (2) company directors;
         v. Technology -based businesses; and
         vi. The operation of the company does not exceed 5 years.

2. For applicants from the category of companies that have no ownership achieve a majority of Malaysian citizens (<50%), additional conditions the following must be complied with, namely:
          i. Applicants have minimum qualifications in terms of proof of concept (proof of concept, POC) or a working prototype),
         ii. The company operates in Malaysia; and
         iii. At least 70% of employees are Malaysian citizens.

3. For applications from companies other than start-up companies, funds this is offered as a matching grant based on the following merits:
          i. If the company finances part of the funds in the form of in-kind returns (e.g. equivalent value of equipment, facilities and services) up to 50% of the total cost of the application, MOSTI will fund the amount up to 70% of the total the cost of the project applied for; or
         ii. If the company finances part of the funds in the form of cash back, MOSTI will fund up to 90% of the total cost of the project applied for.

4. Applicants from Public and Private Institutions of Higher Learning (IPT) shall collaborate with companies from industry in Malaysia.

5. Meanwhile, Government Research Institutions/Government STI Agencies are encouraged to work with Start -up Companies/Small Enterprise Companies and Medium (SME)/Multinational Companies (MNCs) or vice versa.

6. The applicant or member of the project team has never been convicted of fraudulent activities or being declared bankrupt.

7. The Company has never been convicted of fraudulent activities, it was declared rolled up, in liquidation or under receivership.

8. Project Leaders who are Malaysian citizens can involve project members from international organizations or working expatriates from the same institution.

9. While the Project Leader who is not a Malaysian citizen is allowed to apply on condition:
        i. the work permit is valid for the duration of the project implementation; and
       ii. must have a project member who is a Malaysian citizen from the same institution.

10. The Project Leader is only allowed to lead one project below MOSTI approval at one time.

11. Researchers working under the contract of a Government Research Institution/ Government STI Agencies/ Public and Private Institutions of Higher Learning (IPT) shall ensure that the employment contract remains valid throughout project duration.

12. The project team should consist of qualified and competent members in the technical aspects of the entire project. Every team member must provide a clear resume (curriculum vitae) about the field research, experience and success that has been achieved.

13. Applicants are allowed to submit several applications for different projects provided the applicant has capabilities in terms of strong human and financial resources.

14. The project must be implemented in Malaysia.

15. For project applications under priority areas, the project proposed should be at a pre-commercialization stage with at least have proof of concept or a working prototype.

16. The Project Leader must inform MOSTI if it has been receive funds from other parties for the same project.