Cradle collaborates with Golden Gate Ventures to bridge funding gap
Cradle Fund Sdn Bhd (Cradle), an agency under the Ministry of Finance, Malaysia is the organisation that manages the Cradle Investment Programme. The Ministry of Finance had allocated RM100 millions to Cradle for this programme since it began in 2003. The agency was awarded an additional allocation of RM175 millions for the 2011-2015 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 enables Malay’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-ups companies to attain commercialisations. Cradle offers two types of conditional grants – pre-seed (CI– 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 technology ideas into prototypes 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 stain commercialisations.
Coach and Grow Programme (CGP)
The Coach and Grow Programme is a market-driven programme intended to bring together key players in the entrepreneur’s ecosystem to train existing entrepreneurs to grow their business to greater heights, via coaching, networking and showcase events.
Angel Tax Incentive
The Angel Tax Incentive was announced in 2012 during the National Budget 2013 by the Prime Minister. Angel Tax Incentive was designed for angel investors to be accorded a tax deduction of up to RM500,000 in the third year (after 2 years) of his or her shareholding in the newly invested companies. Its objective is to stimulate and encourage angel investments from the private sector into technology based start-up companies in Malaysia. This will provide a funding avenue that would allow them to grow.