Malaysia Productivity Corporation (MPC) has launched the Productivity Grant initiative to identify and support the development of innovative products with the potential to revolutionise customer productivity and operational efficiency.

In a statement on Monday, MPC said the Productivity Grant is designed to foster innovation across industries, adding that it encourages companies to develop and introduce groundbreaking solutions that address existing challenges and unlock new growth opportunities.

It said this initiative seeks to catalyse advancements contributing to a more efficient, productive, and sustainable economic landscape.

MPC said the Productivity Grant underscores its focus on research and development (R&D) for commercialisation to push industries towards higher-value chains.

It said this aligns with the Mid-Term Review of the 12th Malaysia Plan's (12MP) productivity target of a 3.8% growth annually. Experimental research and commercialisation are prioritised to encourage market-based R&D activities.

MPC director general Zahid Ismail said the Productivity Grant supports the government's aspiration to increase private-sector spending on R&D, and improve Malaysia’s ranking in the Global Innovation Index to the top 20.

“Implementing the grant contributes to increasing firm-level productivity by 30% and skilled workers by 20% throughout the 12MP.

“MPC is confident that enterprise productivity can be enhanced by encouraging the creation of innovative products and services,” he said.

MPC invited eligible companies and entrepreneurs to submit applications for the Productivity Grant. Applications are open from March 14 to April 14, with a maximum funding cap of RM350,000. Selected projects must deliver lasting improvements to customer productivity and operational efficiency.

Source : The Edge Malaysia