The SME Product Development Program aims to develop products from SME entrepreneurs to help the companies improve their ability to compete with overseas products as well as increase sales revenue through more attractive and trendy packaging. Through this program, the Ministry will identify products that have the potential to be placed in hypermarkets but currently they do not meet the standard set by hypermarkets.
Product selection criteria are based on a number of factors such as new products with potential to be marketed but do not have the brand, packaging and labeling as laid down by the supermarket and other products available in the market and they are not able to compete with other products.
The allocation for this program is implemented on a “cost-sharing budget”. The allocated cost is based on the estimated expenditure required according to the requirements of each product and cost allocation is according to the following ratio:
- KPDNKK : 70%
- PKS : 30%