The Authority for Info-communications and Technology Industry (AITI) will be subsidising digital solutions for wholly local micro, small, and medium enterprises (MSMEs) to improve productivity through a new funding scheme.
The Productivity and Efficiency Joint Funding for Digital Adoption scheme (PENJANA), announced on February 17, will partially fund the annual cost of either an e-Commerce or digital point-of-sales (POS) solution from three local IT vendors.
There are three tiers of funding or subsidy percentages offered by AITI, corresponding to the annual turnover of the applying MSME.
MSMEs with turnovers of more than $100,000 annually can receive funding of up to 50% of the cost of the digital solution, while enterprises with turnovers between $50,000 to $100,000 can receive 60% of funding from AITI. Businesses earning less than $50,000 annually can receive up to 70% funding.
The maximum annual funding per MSME is $5,000. Businesses must have less than 100 employees, be fully owned by Bruneians and be operational for at least two years to be eligible.
AITI’s CEO Hj Jailani Hj Buntar said the scheme aims to increase the uptake of digital solutions by MSMEs, which will boost their competitiveness and productivity in an increasingly digital world.
“InsyaAllah, AITI will increase the categories and list of digital applications (available through PENJANA) in the future,” he said in a press conference to annouce the scheme’s launch at AITI’s Seri Kerna Hall.
AITI hopes to increase the number of MSMEs who have adopted digital solutions to 20% by 2025, according to their Asissant CEO Norshahrul Nizam Hj Othman. This is inline with the government’s Digital Economy Masterplan 2025.
“AITI has approached and worked with these (IT) companies to assess whether they can provide a market-proven and cost-effective product to our local MSMEs. As part of the package, the vendors will provide training for up to two employees in the use of the software,” added Norshahrul.
At present, Dynamik Technologies is the sole approved e-Commerce service provider with their Cendana e-Retail; an e-Commerce website solution with options for online payment integration.
AITI’s CEO also welcomed for local companies with market-proven and cost-effective solutions for MSMEs to approach AITI for assessment to be an IT provider under PENJANA by contacting them at firstname.lastname@example.org.