Iskandar Malaysia Introduces IMSTART for SMEs

IRDA empowers individual traders and SMEs through e-commerce with its financial assistance

IMSTART is open for SMEs located in Iskandar Malaysia to embark or develop better in e-commerce platforms

A special grant to develop a digital platform is now being offered to individual traders and Small and Medium Enterprises (SMEs) that are currently operating in Iskandar Malaysia.

According to Datuk Ismail Ibrahim, Chief Executive, Iskandar Regional Development Authority (IRDA), “The ‘Iskandar Malaysia Startup Grant’ (IMSTART) programme was introduced in line with the region’s economic prosperity and inclusive agenda, and in conjunction with Iskandar Malaysia 15th Anniversary Campaign (IM15CC).”

National Budget 2021
Datuk Ismail Ibrahim, Chief Executive of IRDA

“This grant will provide an advantage to individual businesses and SMEs to meet the challenges during this COVID-19 pandemic and further enhance the operational capabilities and market access of businesses through digital platforms,” he added.

With an allocation of RM2,000,000, a total of 200 individuals and SMEs can get the assistance of up to RM10,000 for each business. With this financial assistance, traders can purchase product stocks, upgrade business operations with technological tools and systems, and create e-commerce platforms.

Interested individuals and SMEs must be Malaysian citizens, aged between 18 to 45 years old and have a business in Iskandar Malaysia. It is open to traders that would like to create a digital business or already have a digital business since March 2020.

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The IMSTART programme is one of the programmes under the SECURE@IskandarMalaysia initiative that offers various assistance in terms of finance and training. These include business-related financial assistance for the B40 group and vulnerable groups, financial assistance and training for urban agriculture, grants for truck-based businesses and facility sharing, and more.