Crowdfund on SocioBiz and qualify for SIM Grant 1:1 matching to assist your business
In partnership with
“The Social Impact Matching (SIM) Grant totaling RM10million, a PENJANA initiative, was introduced to support social enterprises and social innovation in Malaysia. For every ringgit earned through crowdfunding, SIM Grant will match that amount, in a 1:1 ratio.”
Alliance Islamic Banks SocioBiz* is one of the crowdfunding platforms endorsed by MaGIC for the SIM grant.
We would like to support businesses with a clear social and/or environmental purpose by offering 0% platform fees for the first RM500,000 raised on SocioBiz. In addition, we will help you create your campaign page and boost your campaign via targeted digital marketing!
*SocioBiz aims to promote financial inclusion and empower communities through entrepreneurship.
Why crowdfund with us?
0% platform fees
Alliance Islamic Bank will bear the platform fee for the first RM500,000 raised by SIM Grant applicants, exclusive of payment gateway fees.
Digital marketing
We will boost the campaigns through targeted digital marketing to create more awareness and help you achieve your crowdfunding targets.
Potential zakat funds for asnaf entrepreneurs
We will boost the campaigns through targeted digital marketing to create more awareness and help you achieve your crowdfunding targets.
Convenience
We will help you to get started by setting up the campaign page for you!
Additional service to local entities
Be part of our #SupportLokal initiative, an online bazaar that helps promote local businesses (eligibility criteria applies).
How to crowdfund
with us?
Start Crowdfunding
Meet SocioBiz’s eligibility criteria and your campaign will be listed on SocioBiz.
Raise at least RM5,000 and 80% of the intended grant amount to be applied.
Spread the word and share the campaign with others!
Receive Funding
You will receive the donations at the end of the campaign period or when the campaign is fully funded.
Apply for SIM Grant
Submit your proposal to MaGIC and keep your donors posted on your progress!
Successful SIM Grant applicants will receive a 20% rebate on the platform fee
The 20% rebate on platform fee will only be applicable for the first RM1million cumulatively raised on SocioBiz and matched upon approval of SIM grant application.
Crowdfunding on SocioBiz does not mean a guaranteed approval for the SIM Grant. Applicants are still required to meet the SIM Grant's application criteria.
Support the Campaigns
FAQs
Anyone can crowdfund on SocioBiz provided that they met the criteria to be a partner on SocioBiz. Campaigns are listed for verified partners to provide confidence to the donors on the proper usage of funds.
You are eligible to be a partner if you fulfill the following criteria:
- 1. You are a business entity registered with MaGIC under the Social Enterprise Accreditation (i.e. Basic SE or SE. Accredited) or an individual registered with SocioBiz’s charity partners.
- 2. You have a project or initiative that can meet the SIM Grant eligibility criteria. Learn more about SIM Grant here.
- 3. You have an account with Alliance Islamic Bank
If you have any enquiries, drop your information here and we will get in touch with you to get more details.