From 14th March 2025, there are significant changes in the BUD Fund and the EMF. Our consultant believed that it was due to public finance deficit and serious abuse. The followings are the detail:
- BUD Fund basis decreases from 1:1 (i.e. 50%) to 1:3 (i.e. 25%)
- BUD Fund maximum subsidy per application decreases from $1,000,000 to $800,000
(Incl. general application and E-commerce Easy) - BUD Fund upfund decreases from 75% to 20%
- BUD Fund accepts application every 3 months only. No more concurrent applications.
- EMF basis decreases from 1:1 (i.e. 50%) to 1:3 (i.e. 25%)
- EMF upfund decreases from 75% to 20%
There are also changes in the scope and the requirement in items.
BizMagnet consultant anticipated two years ago that the Authority would react against serious fraud. If you have any questions in Government Funding, please kindly contact BizMagnet.