KUALA LUMPUR: Small and Medium Enterprises Corporation (SME Corp) has announced an allocation of RM36mil for innovation vouchers to be distributed from today.
Chief Executive Officer Datuk Hafsah Hashim said the voucher aimed to promote innovation and technology adoption by local SMEs, in order to create new products and solutions or to improve operational efficiency as well as productivity under the 1-innoCERT Programme.
"Eligible SMEs will receive grants of up to RM400,000 to cover the certification and quality management system, product packaging, innovation and research and development, branding advertising and promotion, alongside purchase of machinery and equipment," she told reporters after the soft launch of the SME Innovation Award 2014.
Hafsah also said that under the certification programme, companies would be fast-tracked to utilise the incentives.
The 1-innoCERT's core function is to identify, certify and recognise innovative SMEs through the certification process.
Meanwhile, SME Corp Chairman Datuk Mohamed Al Amin Abdul Majid said the agency would also launch productivity vouchers in the first half of 2014.
"The productivity vouchers, worth between RM1,000 and up to RM10,000, are aimed at providing financial assistance for micro-enterprises to enhance productivity, depending on the business performance," he added.
Companies with a sales turnover of or less than RM300,000 or employ less than five people are eligible to apply for the vouchers.
SME Corp, in a statement, also announced the premiere 5th SME Innovation Award 2014 for Malaysian enterprises with a proven track record of innovative business products, processes and practices.
Two million ringgit in cash prizes will be given to the winners in five categories and the top most innovative SME will be awarded RM1 million cash.
The awards will be presented by Prime Minister Datuk Seri Najib Tun Razak at the SME annual showcase (SMIDEX 2014) to be held from June 4, 2014 – Bernama.
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