The Technology and Innovation Acceleration Scheme (TIERS) was announced in the 2016 Federal Budget with an allocation of RM200 million. The scheme’s objective is to catalyze the business expansion of local innovative and technology based companies overseas and development into ASEAN regional technology champions. TIERS offers a financing rate of 4.0% flat per annum and applications for the scheme will be accepted until 31st December 2018.
TIERS will facilitate capacity building, infrastructure development and capabilities enhancements of local export driven technology companies. The scheme will provide financing for wider market reach for the products of financed companies as well as their ability to implement overseas projects.
- Financing up to 80% of value of contract or project cost or maximum financing of RM10 million;
- Flat profit/interest rate of 4% flat pa;
- Seven (7) years financing tenure;
- Flexible principal (re)payment terms; and
- Minimum processing fee between 0.75 – 1.5%;
- Company incorporated in Malaysia;
- Minimum paid-up capital of RM100,000.00;
- Minimum five (5) employees;
- Company majority owned by Malaysian (at least 51%); and
- Technology based project/ business under MDV’s mandate.