UTAR Young Entrepreneur Start-up Scheme

Objective 

The objective of UTARYESS is to provide funding for product development and conducting market research.

Eligibility

UTARYESS is only available to Unovate Centre incubatee which is majority owned by full time UTAR students/UTAR Alumni (within one year upon Senate approval of graduation) at application time.

Maximum Grant Amount  

A maximum grant amount of RM5,000.00 

Allowable Expenses   

1. Product development
2. Conducting market survey

Non-allowable Expenses   

1. Purchase of laptops/desktops
2. Payment of salary
3. Any other purchases not related to the product development or market survey

Grant Disbursement   

The grant will be disbursed based on the actual amount spent for each pre-agreed milestone.

Application Procedures  

1. Discuss with the assigned mentor on the budget for product development and/or conducting market survey. The milestone for all activities must be clearly defined.
2. Submit the application form (FM-UC-002: Application for UTAR Young Entrepreneur Start-up Scheme) together with the latest business plan/business model canvas and the budget for each milestone.
   
3. ED Expert Panel will evaluate the application and submit its recommendation to the UTAR Entrepreneurship Development Committee (UTAR EDC).
   
4. UTAREDC will then submit it to the Senior Management Committee (SMC) for consideration and final decision. All decisions by SMC are final.
   
5. Applications is open all year round.

Implementation Procedures  

All successful applicants must follow the following procedure.

1. Receive the Letter of Offer and UTARYESS Grant Agreement. The terms and conditions as well as the grant amount are in the documents. They are non-negotiable.
2. Accept the offer within 30 days from the date of the Letter of Offer by signing the acceptance slip and the UTARYESS Grant Agreement.
3. The university will only reimburse the actual amount spent for each pre-agreed milestone.