Innovation vouchers incentive for Malaysian SMEs
January 3, 2014 Leave a comment
Updated: Thursday January 2, 2014 MYT 6:54:29 AM
Innovation vouchers incentive for SMEs
PETALING JAYA: SME Corp is targeting as many small and medium enterprises (SMEs) as possible to benefit from the recently-launched innovation vouchers.Its chief executive officer Datuk Hafsah Hashim said there had been positive feedback from participating SMEs as innovation and technology adoption was expensive.
“For some high-tech companies, research and development (R&D) takes up 60% of their revenue,” she told StarBiz.
The innovation voucher was formulated as part of the incentive under the 1-InnoCERT Programme to promote innovation and technology adoption among local SMEs.
Among the costs covered under the incentives are certification, quality management systems, product packaging, R&D, branding and advertising, and purchase of machinery and equipment.
Hafsah said the corporation was in collaboration with local testing and certification bodies such as Sirim, Mimos and National Instruments.
“Our collaborations with the testing bodies allow for easier transactions for the SMEs whereby we (reimburse) the cost directly to the testing bodies to allow them to conduct their tests immediately once approved,” she said.
She added that it was expanding its collaborations with other testing bodies to participate in the innovation vouchers. One of them is QAV Technologies Sdn Bhd, which has a certified lab by the American National Standards Institute which allows a larger range of tests and certifications to be conducted.
Asked on how the SMEs could apply for the vouchers, she said the grant worked on a re-imbursement basis. “SMEs need to be committed to their growth plans and proceed first with the purchases, and then claim the costs,” she said.
However, she added that SMEs must first qualify themselves by attaining the 1-InnoCERT certification which had two levels of assessment, the online assessment and site visit evaluation and audit by experts.
The RM36mil fund was allocated under the 10th Malaysia Plan with up to RM400,000 allocated for each eligible 1-InnoCERT company.
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