SMART Fund

Introduction
  • The Smart Challenge Fund (SMART Fund) is a grant scheme which is open to businesses and researchers interested in competing for funding opportunities for which the Government has identified the strategic and prioritised needs (new technologies, processes, products) with the expectation that the deliverables will solve national problems and identify long term solutions. 
  • This scheme provides funding for technology development up to pre-commercialisation that is highly innovative which can be translated into marketable output to spur the economy as well as for societal benefit. 
  • Proposed projects must be specific, measurable, achievable, realistic and timely (SMART). The proposed projects must be well-designed, scientifically valid, and competitive with current technologies and research works.
Objectives
  • Strategic: To tackle strategic issues that will provide long term solutions, thus, ensuring commercialization of new R&D products to spur economic returns for the country. 
  • Prioritized: To tackle prioritized issues that need immediate solution leading to improvement of societal wellbeing.
Financing type
Grant
Financing amount (max)
  • Strategic: RM 1 million
  • Prioritized: RM 3 million
Purpose of Financing
CAPEX
Working Capital
Eligibility criteria
  • The company must have a minimum of 51% equity held by Malaysians. 
  • The company must have a minimum paid-up capital of RM10, 000.00. 
  • The company must be in operation for at least 2 years from date of application. (Companies shall provide audited financial report as proof) 
  • None of the company directors or project team members have been convicted of any fraudulent activities or the company has been declared bankrupt, under liquidation or placed under receivership. 
  • Only Malaysian citizens can apply and lead the project but can include international organizations or expatriates working in any of the organizations mentioned above as part of their project team. 
  • The project team should consist of members who are qualified and competent on the technical aspects of the whole project. Each team member must provide a curriculum vitae clearly stating their previous research and highlighting their experience and achievements. 
  • Pre commercialization stage with established Proof of Concept (POC) or technology readiness level (TRL) 4 for strategic and technology readiness level (TRL) 6 for priority. 
  • Projects must be conducted in Malaysia. 
  • Applicants are allowed to lead only one project at any time. 
  • The proposed project must contain elements of technological innovation leading to commercialization.
Application procedure

Application for SMART Fund should be submitted through online system https://edana.mosti.gov.my 

The process approval is as below: · Fund application through https://edana.mosti.gov.my 

  • Internal screening 
  • Technical and Financial Committee Evaluation 
  • Fund Approval Committee Meeting 
  • Approval
For further information

Fund Division 

Tel: 603 – 8885 8305/8324/8367/8704/8322 Fax: 603 – 8888 7710
Web: https://edana.mosti.gov.my 

Ministry of Science, Technology and Innovation 
Level 4, Block C4, Parcel C 
Federal Government Administrative Centre 62662 Putrajaya