What is the Co-Matching Scheme?

The scheme aims to provide a co-matching funding with recipient to “co-match” 30% of the total amount, while DARe will fund the remaining 70%.

Who is eligible for the scheme?

To be eligible for the scheme, businesses/companies have to satisfy the following general eligibility criteria:

  • Must be registered and based in Brunei Darussalam (100% locally owned businesses by Citizens or Permanent Residents)

  • Product/services offered must be locally owned.

  • Must be able to match at least 30% of total project cost, with applicants having prior investment be advantageous.

  • Costs shall not be incurred before the Grant award and prior to the signing of the Terms and Conditions of Grant.

  • The project/activities that is funded by this scheme has to be completed within a period of twelve (12) months.

There are 2 categories of Co-Matching Scheme:

1. Starting Up

  • Applicable for new businesses registered within (not more than) twelve (12) months

  • Targeted to assist in the starting up of innovative startups

  • DARe will fund 70% (up to B$10,000) of the total project cost

Eligibility Criteria:

  • Must fall within definition of micro or small enterprises i.e. have fewer than 20 employees

  • Must be currently participating or accomplished one of DARe’s Bootcamp Programmes (e.g. Accelerate Bootcamp Programme or Micro Bootcamp Programme)

2. Expansion

  • Applicable for established businesses registered more than twelve (12) months

  • Targeted at businesses looking to expand their businesses to the next level i.e. to increase productivity, expand range of products or services or looking into expanding internationally

  • DARe will fund 70% (up to B$20,000) of the total project cost

Eligibility Criteria:

  • Must fall within the definition of micro, small or medium enterprises i.e. have fewer than 100 employees

  • Must practice proper book-keeping, and able to provide applicable financial records

  • For Sole Proprietorship or Partnership, businesses are strongly encouraged to convert the status of their existing business into Sendirian Berhad (Sdn Bhd)

What are the Eligible Expenses?

Some of the eligible expenses are:

  1. Costs of obtaining license and certification

  2. Consultancy services to get certification

  3. Machine and equipment

  4. Marketing expenses

  5. Adoption of technology

 

However, the Scheme is not eligible for expenses such as:

  1. Debts and liabilities

  2. Director’s fees and remuneration

  3. Manpower or personnel salary

  4. Renovation

  5. Rental

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What are the stages in application process?

How long will it take for my application to be processed?

Applications will be processed internally upon receiving complete documentation. However, the decision for your application will be made within 2 months.

How will my application be evaluated?

There are certain criteria that applicants will be evaluated, these criteria are:

  • Commercial Merit

  • Domestic Market Establishment

  • Team Competency and Commitment

  • Innovation Merit 

  • Export Potential

 

More information on the criteria can be found in the form at the bottom of this page.

What is expected from recipients of the scheme?

Recipients will be expected to report to DARe on the performance of their project and their business/company. DARe will also closely monitor recipients of the scheme so that recipients could fully utilise all of DARe’s initiatives.

How will I know if there is a change in the status of my application?

DARe will inform through email if there are any changes in the status for your application.

How to register?

 

To register, fill in the Registration Form and submit to the email below.

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