For Immediate Release
Cradle Fund Sdn Bhd (Cradle) an agency under the Ministry of Finance. Malaysia is the organization that manages the Cradle Investment Programme. The Ministry of Finance had allocated RM100 million to Cradle for this programme since it began in 2003. An additional RM50 million was recently added to the allocation for the 2011-2012 period, under the 10th Malaysia Plan.
Cradle now runs two programmes, the Cradle Investment Programme for funding development and commercialisation of technological ideas and companies, and the Coach and Grow Programme, a market driven programme to train entrepreneurs .
Cradle Investment Programme(CIP)
The Cradle Investment Programme (CIP) is Malaysia’s first development and technology commercialisation funding programme that enable Malaysia’s budding innovators and aspiring entrepreneurs to transform their raw technology-based ideas in the ICT, non-ICT and high growth technology industries into commercially viable ventures or local start-up companies to attain commercialisation. Cradle offers two types of conditional grant – pre seed (CIP Catalyst & u-CIP Catalyst) and seed (CIP 500). The pre-seed grants offer funding of up to RM150,000 to teams of individuals to develop their innovative technologies ideas into prototype or proof-of-concepts, whilst the seed grant offers funding of up to RM500,000 to help Malaysian start-up companies with innovative technology products/services to attain commercialisation. To learn more, please visit Cradle’s portal at www.cradle.com.my. Applications for the grants are also submitted online via the portal.
Coach and Grow Programme, meanwhile, is a market driven programme intended to bring together key players in the entrepreneurial ecosystem to train existing entrepreneurs to grow their business to greater heights, via coaching, networkng and showcase events. For more information, visit www.cradle.com.my
Malaysian Business Angel Network (MBAN)
With the launch of Malaysian Business Angel Network (MBAN) recently, Cradle has two new initiatives which are Malaysian Business Angel Network (MBAN) and Angel Tax Incentive. Malaysian Business Angel Network (MBAN) is a new initiative to grow more accredited angel investors through education & training. Equally importantis that MBAN will also monitor angel investment statistics in Malaysia. MBAN aims to be an agent of growth for Malaysia’s startup scene, putting Malaysia on the map as the go-to market for innovation, growth & entrepreneurship.