SMI FUNDING provides expert financial advisory services, specializing in loans, grants, business licensing, and other corporate solutions. Their team of consultants boasts a proven track record, with a 95% success rate in grant applications.
CIP SPARK is a grant of up to RM150,000, available for a maximum duration of 18 months, aimed at supporting the development and pre-commercialization of technology start-ups. This conditional grant is designed to assist early-stage entrepreneurs in developing and commercializing their products. Recipients of the CIP SPARK grant also benefit from business networking opportunities and additional value-added services, which support business model development, market validation skills, and market access.
CIP SPARK is open to both companies and individuals, accepting applications at various stages, including ideation, prototype development, and product enhancement. The grant is disbursed through advance payments at the start of each milestone, on a reimbursement basis. As a conditional grant, one key requirement is that recipients must repay the funds if the agreement is terminated or if other conditions specified in the funding agreement are not met.
Eligibility Criteria for CIP Spark
Apply as an Individual (Minimum Group of 2)
Open to Malaysians
Open to Non-Malaysians Residing in Malaysia
Apply as a Registered Company (PLT, ENT, Sdn Bhd)
Your company must be under 5 years old
Annual revenue must not exceed RM3 million
No other company should hold 25% or more of your company’s shares
For companies with less than 51% Malaysian ownership, the majority of employees must be Malaysian citizens
Your company must own the intellectual property (IP) rights, including those from university or research institute spin-offs
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Funding Period
Up to 18 months
Payment Disbursement
Funds are released as advance payments at the start of each milestone. To unlock further payments, you must meet milestone deliverables. Any unutilized funds will be deducted from the next advance payment.
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Key Facts
CIP Spark is a conditional pre-seed and development grant
At least 60% of funds are allocated for development-related expenses, with a maximum of 40% for non-development and commercialization costs
For individuals, the grant is open to both Malaysians and non-Malaysians living in Malaysia
For companies, they must be under 5 years old with revenue under RM3 million and meet the ownership and employee criteria
The process from pitching to approval typically takes around two months
For more information, please contact here
For further information please contact here
To view available Grants please visit here
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