The SIM Grant was announced by YAB Prime Minister in June 2020 as a part of the COVID-19 pandemic Short-Term Economic Recovery Plan (“PENJANA”) in which MaGIC has been appointed to manage and administer. The Matching Grant objectives are to:
- promote inclusive and responsible businesses who creates a positive impact on society;
- stimulate the private sector and general public participation, through crowdfunding, in seeding and scaling social innovation to deliver impact to society, and in doing so, cultivate ‘Doing Good’ as the new norm; and
- help rebuild the livelihood of communities while cultivating and scaling new innovative solutions for social good.
How does the matching grant work?
The SIM Grant is be deployed via a 1:1 matching mechanism, for every 1 ringgit earned another 1 can be claimed through the SIM Grant (with limits set based on criteria), which will be unlocked upon successful outcome from crowdfunding initiative by an eligible social enterprise and approval of the Joint Approval Committee.
We are looking for funders to:
Double their donation, grants or contribution towards the social enterprises by funneling their grantees to apply for this matching grants; and/or
Become a SIM grant greenlane partner in expediting the SIM grant matching and disbursement by leveraging partner’s grant process including due diligence that is in place and in line with SIM grant criteria.
For more details, the prospective funders could click on SIM Grant website or email to SIM Grant programme lead, [email protected].
