Market Access Grant 2024

Nurturing sustainable startups through market development activities resulting in increased revenue.

Key Program Features
  • Design as a supporting fund for qualified startups to expand their budget for customer acquisition activities leading to increased revenue.
  • Inclusive grant with special categories for Social Enterprise Startups and Women-led Startups.
  • Reasonable size of fund of RM30,000 to be fully spent on customer acquisition activities.

Who Should Apply

Program Stages

Program Briefings

8 Feb – Ended

14 Mar – 10am – CIC, USM

18 Mar – Online – Link

Submit Application

22 Jan to 30 Mar

Pitch to Selection Committee

Apr 2024

For Qualified Applications Only

Sign Letter of Agreement

Apr 2024

Execution & Reporting

May to Nov 2024

Fund Size, Approved Purpose and Required Commitment

Required Commitments to Deliver

  • To commit RM15,000 of own money to be expensed as overall budget for market development totalling RM45,000 (together with the grant if approved).
  • Achieve minimum 1.5X increase in revenue (minimum RM50,000) by end of the reporting period in Nov/Dec 2024 by utilising the budget.
  • Develop at least 1 partnership via MoU or Agreement with a partner that will lead to market expension or new market entry.

Approved Purpose & Use

  • Activities or incentive offer to customers leading to customer acquisition and sales resulting in revenue.
  • Venture collaboration and partnerships leading to revenue.
  • New market segment penetration deals to acquire new sales.
  • CANNOT be use to fund salaries, commissions and purchase of equipments or office supplies.
  • IMPORTANT: Grant money will only be activated once company showed proof that own committed RM15,000 have been expensed.

Fund Size: RM30,000 supporting grant

Requirements and Application

  • Must be a Registered Business or Company with SSM
  • Registered or Business Address in Penang.
  • Must be registered with Digital Penang Startup Database (CLICK HERE)
  • Minimum 1 Year in Operation.
  • Able to allocate RM15,000 of own money to be part of total expense budget of RM45,000 in this programme (inclusive of grant), if approved.
  • Revenue generating company.
  • Preference (not a must) for companies at Seed stage with revenue above RM350k.
  • Not a past recipient of the same grant by Digital Penang.

Program Deck and Application Form

Questions ? Email ecosystem[at]digitalpenang[dot]my or call the office, ask for Hanis Harun

Program Partners

UN SDGs

DISCLAIMER!

We make NO REPRESENTATION OR WARRANTY of any kind, expressed or implied, regarding the accuracy, adequacy, reliability, availability or completeness of any information in this initiative and UNDER NO CIRCUMSTANCES SHALL WE HAVE ANY LIABILITY to you for ANY LOSS OR DAMAGES of any kind incurred as a result of the participation in this initiative or reliance on any information provided herein.

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