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Market Creation

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Market Creation
Background
 
AITI plays an important role in introducing initiatives and programs to assist the local ICT industry in Brunei Darussalam. The aim is to create a growing, vibrant and sustainable local ICT industry contributing to a successful diversification of economy from heavy reliance on oil and gas. AITI envisions that local ICT companies would be able to produce their own products for export to the regional market and thereby generate inward revenue to Brunei.
 
To support this vision, AITI has created a new funding scheme, namely Market Creation Fund (MCF) for the ICT industry to assist them to launch their Brunei-Made ICT products that have commercial potential to be marketed in this region.
 
Market Creation Fund (MCF)
 
The MCF is a scheme to find willing-buyer to a readily available product that has been produced in Brunei by local Bruneians. These products would have some commercial values and potential market. However, the local SMEs would have some challenges and difficulties in bringing their products to the real market. This is because the buyer would usually be sceptical and have less confidence of investing in ICT products that are produced locally considering that the Brunei ICT brand has yet to be proven.
 
Hence, the MCF is made available to assist the local ICT SMEs to obtain the new market or new users for the ICT products they have designed, developed and produced. It serves as a launching platform for the market to test and pilot the products before it could be further adopted for wider market.
 
Objectives
The Market Creation Fund (MCF) has been created to meet the following objectives:
·         To encourage R&D activities by local businesses in Brunei Darussalam
·         To encourage the development of Brunei-made and local contents of ICT products.
·         To create a market to utilise the Brunei-made ICT products.
 
To get more information on Market Creation Fund (MCF), please download the guidelines here.