Innovation is a key contributor to productivity, economic growth and higher living standards. Nations and businesses that can achieve high levels of performance in innovation will be well placed to be leaders in the future.

Innovation is not just about invention. It also encompasses the process by which ideas are taken to market. Fundamentally, innovation encompasses new products, processes and systems by which value can be created for customers, businesses and society more broadly.

Realising the importance of innovation to national wealth creation and social well being, the Government initiated the Innovation Fund (InnoFund) during the Ninth Malaysia Plan (2006 – 2010) comprising Enterprise Innovation Fund (EIF) and Community Innovation Fund (CIF).

Application can be from:

i) Individual

ii) Sole Proprietor;

iii) Micro Enterprise; or

Project proposals eligible for consideration must fall under any of

the technology clusters listed below:

i) Information and Communication Technology (ICT)

_ Information System

_ ICT Infrastructure

_ Software

_ Emerging Information Technology

_ Communication

_ Security System

_ Signal Processing

_ Database Technology

_ ICT Application

ii) Biotechnology

_ Plant

_ Animal

_ Food

_ Biopharmacy

_ Molecular Biology

_ Medical Biotechnology

_ Industrial/ Environmental Biotechnology

iii) Industry

_ Advanced Materials

_ Advanced Manufacturing

_ Nanotechnology

_ Alternative Energy

_ Radiation Technology

_ Waste to Wealth

_ Processing Technology

_ Engineering Development

_ Environment

The EIF funding will only cover the following items:

i) Consumables / materials;

ii) Equipment (not more than 40% of total amount requested);

iii) Expenditure for services (consultancy and testing);

iv) Project documentation;

v) Regulatory and standard compliance; and