KUALA LUMPUR – Cradle Fund Sdn Bhd (Cradle), has revealed on June 19 two new investment programmes – Cradle Investment Programme Ignite (CIP Ignite) and Cradle Investment Programme Accelerate (CIP Accelerate) following its announcement last year to further enhance its Cradle Investment Programme 300 (CIP300) and Direct Equity 800 (DEQ800) to cater to a wider audience.
The new funding programmes provide more opportunities for local companies to explore the commercialization of innovation as well as accelerate their growth.
The CIP Ignite is designed as a conditional grant of up to RM500, 000 to help support early stage technology-based start-ups, tech based SMEs or spin-off companies from universities or research institutes. The grant is divided into distinct two components – CIP Ignite for deep tech innovations and CIP Ignite for other innovative tech-based companies.
These new funding programmes were designed to create more opportunities for early stage companies to commercialise their innovations and create value in the market.
Cradle will also introduce CIP Accelerate, a programme that provides funding of up to RM2 Million focused on accelerating the growth of deep tech companies and spin-offs from universities and research institutes.
To enhance the potential success of fund recipients of these programmes Cradle will provide value added support in the form of its Structured Coaching Programme (SCP) where fund recipients will be provided with services of an experienced business mentor, other value added services, as well as targeted training opportunities to address other vulnerabilities.
Sectors covered under these programmes include ICT, Advanced Manufacturing & Engineering, Food Security & Technology and Socioeconomics Drivers. Both grants are available to locally incorporated companies with not less than 51% Malaysian ownership and revenues of not more than RM5 Million. Applications may be made online via Cradle’s website.
To date, Cradle has funded over 1000 technology-based start-ups where these start-ups, in turn, created jobs for Malaysians and contributed to the Malaysian economic growth.