Are you looking to expand your business internationally? Are you experiencing budget constraints due to the pandemic?
The newly launched Market Development Grant by MATRADE is the support you need!
What is the Market Development Grant (MDG)?
The MDG is an initiative in the form of a reimbursable grant developed with the purpose of supporting Malaysian SMEs affected by Covid-19.
Introduced in 2002, the aim of MDG is to assist Malaysian SMEs, Professional Service Providers, Trade & Industry Associations, Chambers of Commerce, Professional Bodies and Co-operatives in increasing global sales by undertaking eligible export activities.
I would like to apply, what do I need to know?
- For registrations of Intellectual Property (IP) for International Markets, the MDG will reimburse the cost of IP registration for export purposes.
- The grant amount for this activity is RM30,000 per application.
- All activities related to IP registration are eligible to claim such as Trademark, Patent, Industrial Design, Geographical Indication etc.
- The initiative is applicable for activities undertaken from 1st Jan 2021 to 31st Dec 2021
Applicants must note that you will NOT be eligible for the grant if costs of eligible expenses are already sponsored by a third party (e.g. Buyers, Government Agencies, Trade and Industry Association, Chambers of Commerce, Professional Bodies, Co-operatives, etc.)
Am I eligible for the grant?
The grant is eligible to those fulfilling the criteria below:
- Small and Medium Enterprises (SMEs)
- Professional Service Providers (Sole Proprietor or Partnership)
- Trade & Industry Associations, Chambers of Commerce or Professional Bodies
- Co-operatives
What do I need to prepare for my application?
- Proof of Payment. This can be presented as official receipts, bank statements, credit card statements, debit card statements or telegraphic transfer statements. Photocopied proof of payments of computer generated receipts must be certified via original stamping by an External Auditor, External Chartered Accountant, Commissioner for Oaths or the issuer of the payment documents.
- Itemised invoice(s) or Contract or Quotation from service provider specifically for the activities.
- Copy of Certificate or Proof of Registration if available.
- Translated copy in English if original documents are in a foreign language.
- Documents must be scanned in PDF form.
What are the deadlines for the MDG?
For activities undertaken from 1st January 2021 to 14th July 2021, submissions for Registration of IP for International Markets must be made before 12th August 2021.
For activities undertaken from 15th July 2021 to 31st December 2021, submissions for Registration of IP for International Markets must be made within 30 calendar days from the last date of the event.
Want to apply for the MDG stress free? Our IP professionals are ready to provide full guidance on your application. Get in touch for a free consultation today.