According to MyCIF terms & conditions as amended on 2 August 2021, MyCIF requires the applicant company to have successfully raised their minimum fundraising amount through an ECF platform before they are eligible to submit an application. Furthermore, MyCIF operates on a first-come-first-serve basis, until all allocated funds have been disbursed.
If approved, MyCIF will disburse RM1 for every RM4 raised from private investors. The maximum disbursement amount is capped at RM1m for each company.
Please find examples below:
If an ECF fundraiser successfully fundraises RM400k, MyCIF will invest an additional RM100k.
If an ECF fundraiser successfully fundraises RM4m, MyCIF will invest an additional RM1m.
If a fundraiser successfully fundraises RM5m, MyCIF will only invest an additional RM1m.