Latest news with #MDAG-AI
The Sun
08-07-2025
- Business
- The Sun
MDEC launches two grants totalling RM2.9m to accelerate digital transformation in AI and manufacturing sectors
PETALING JAYA: Malaysia Digital Economy Corporation (MDEC) is introducing two grants totalling RM2.9 million aimed at accelerating digital transformation in two of Malaysia's most strategic sectors – artificial intelligence (AI) and manufacturing. Eligibility for these grants is exclusively extended to companies possessing Malaysia Digital (MD) or MSC Malaysia status, or to those with a pending MD status application at the time of applying for the grant. The two new grants – the Malaysia Digital Acceleration Grant – Artificial Intelligence (MDAG-AI) and the SmartMFG+ Incentive Programme – are designed to support high-potential local companies by promoting innovation, developing export-ready digital solutions and creating high-skilled employment opportunities. MDEC CEO Anuar Fariz Fadzil described the grants as both timely and strategic, giving a significant boost to Malaysia's digital transformation agenda. 'MDAG-AI establishes a foundational framework for Malaysia to emerge as a preeminent hub for AI innovation, while SmartMFG+ lays the groundwork for widespread digitalisation across the manufacturing industry. Collectively, these initiatives serve as a dual engine to advance our digital ambitions,' said Anuar. The MDAG-AI grant is specifically designed to support Malaysian digital companies in the commercialisation of AI solutions. It targets high-impact projects that correspond with the national AI investment strategy, focusing on companies with capabilities across the foundational, enabling, and application layers of AI. This initiative builds upon the momentum generated by prior programmes, concentrating on AI product commercialisation, cross-sector AI application, talent development and knowledge transfer. It is strategically aligned with the National AI Roadmap, reinforcing Eligible companies may apply for funding of up to 70% of total project costs, capped at RM2 million, for projects spanning a duration of up to one year. Application is now open till July 18 and successful applicants will be announced at the Malaysia Digital Expo (MDX) in September.
New Straits Times
08-07-2025
- Business
- New Straits Times
MDEC rolls out RM2.9mil in new grants to drive AI
KUALA LUMPUR: The Malaysia Digital Economy Corporation (MDEC) has introduced two new grants totalling RM2.9 million to fast-track digital transformation in two key sectors: artificial intelligence (AI) and manufacturing. Open exclusively to companies with Malaysia Digital (MD) or MSC Malaysia status, or those with a pending MD application, the Malaysia Digital Acceleration Grant – Artificial Intelligence (MDAG-AI) and the SmartMFG+ Incentive Programme are designed to boost local innovation, support the development of export-ready digital solutions, and generate more high-skilled employment opportunities. MDEC chief executive officer Anuar Fariz Fadzil said the grants come at a critical time to advance Malaysia's digitalisation goals. "MDAG-AI establishes a foundational framework for Malaysia to emerge as a preeminent hub for AI innovation, while SmartMFG+ lays the groundwork for widespread digitalisation across the manufacturing industry. Collectively, these initiatives serve as a dual engine to advance our digital ambitions," said Anuar in a statement. The MDAG-AI grant is specifically designed to support Malaysian digital companies in the commercialisation of AI solutions. It targets high-impact projects that correspond with the national AI investment strategy, focusing on companies with capabilities across the foundational, enabling, and application layers of AI. Eligible companies may apply for funding of up to 70 per cent of total project costs, capped at RM2 million, for projects spanning a duration of up to one year. The SmartMFG+Incentive Programme is a vital initiative within the New Industrial Master Plan 2030 (NIMP2030). Its objective is to expedite digital adoption within the manufacturing sector by providing support to local technology solution providers in scaling digital solutions across various domains such as operational efficiency, predictive maintenance, real-time production intelligence, supply chain analytics, and quality assurance. Selected MD-status companies will receive funding of up to 70 per cent of their solution development costs, with the maximum amount capped at RM75,000 per company.
