Services Innovation Voucher
- Steinbeis Innovation Voucher (STIV) is essentially a matching innovation grant provided by Steinbeis Malaysia Foundation (STMY) to carry out technical and non technical research for industry players who engage Steinbeis Malaysia Foundation to help solve their industrial problems
- The STIV could be redeemed against the cost of scientific services, development or production of a product, service or process
- e.g. technology and market research, feasibility studies, materials studies, design studies., design engineering, service engineering, prototype construction, product testing for quality assurance, etc
STIV Eligibility Criteria
- The STIV is awarded to companies who fulfill the eligibility criteria, subject to approval by the STIV selection committee.
- In addition, the STIV is designed to ease the burden for companies looking to improve their revenue generation and productivity outcomes with the help of STMY's subject matter experts. The project undertaken shall address Malaysia's key economic growth areas, as well as realise wealth creation opportunities for the nation.
STIV Process Flow
Key Advantages of STIV
- Large corporate or industry corporations in Malaysia usually have their in-house research center and employ their own researchers.
- Small Medium Enterprises or SME’s might have restricted financial capacity compared to larger corporations. The STIV would be an advantage for SME’s to address this financial gap and allow them to engage Steinbeis’ experts to solve their industrial issues.
- In this regard, the STIV essentially provides financial assistance to SMEs to engage Steinbeis’ subject matter experts.
- In addition, the STIV minimizes the risk invested by the SMEs whenever they hire these subject matter experts. Steinbeis Malaysia Foundation will equally take responsibility for each collaboration project between the SME and subject matter expert – financially and non-financially.
- Further to this, via the STIV matching grant, requests by industries to solve their issues could be immediately initiated – and negates the need for the SMEs to fully invest at the initial phase.