2012 to be transition year as Cradle looks forward to expanded mandate in 2013
Kuala Lumpur, 16 January 2012 – Cradle Fund Sdn Bhd (Cradle) is looking to make 2012 a transition year as to prepares for a realignment of of its mandate in 2013 Cradle as agency under the Ministry Of Finance , curently disbursed grants to technopreneurs under the Cradle Investment. Programme and runs the Coach and Grow Programme, a coaching programme for technopreneurs.
Nazrin Hassan, CEO of Cradle Fund Sdn Bhd said “In 2012, we are looking to consolidate our capabilities in funding, mentoring, coaching and guiding early stage of companies, and to extend our expertise to managing venture capital. Cradle has been successful in funding and successfully commercialising early stage technology companies in Malaysia and we believe the time is right to grow our skills within the area of early stage venture capital.”
“By 2013, Cradle aims to be the leading pre-seed, seed and start-up stage funder in Malaysia, providing effective grants, equity and commercialisation supprt, as well as coaching and other value add-ons to accelerate the growth of young companies. We are planning for this venture capital arm to focus on the seed and start-up stages, and serve as a bridge between early stage grants and later stage venture capital besides co-investong with angel investors.” Nazrin added.
“In Addition, 2012 will be a very important year for Cradle’s efforts to grow the angel investor community in Malaysia. In the 2012 budget announcement, Prime Minister Datuk Seri Najib Tun Razak revealed that the Government will host the Asian Business Angels Forum (ABAF) 2012 in Kuala Lumpur in May, via Cradle in the role of organiser. The forum aims to raise awareness of business angels and educate potential investors in early stage private equity investment; whilst highlighting quality deals flows to foreign angels and investors as well as raising the visibility of Malaysia within the global investment community. This is in line with the Government’s intent to gradually reduce grants to a minimum by 2015,” Nazrin elaborated.
In 2012, Cradle is targeting to approve 20 CIP Catalyst pre-seed grants and 16 CIP 500 seed grants. To date, 461 pre-seed grants have been approved since late 2003 and 65 seed grants have been approved since 2010. Cradle’s pre-seed grant recipient s have achieved a 55% commercialisation rate for their innovations, the highest in Malaysia and one of the highest worldwide, whilst 15% of Cradle of Cradle’s seed recipient have received further investment exceeding the original target of 10%.
Meanwhile, the Coach and Grow Programme(GGP), launched in July 2011, is currently in the formal coaching phase within stage II, the Coaching stage. During this stage, selected companies will attend group and individualised coaching activities to develop and refine growth strategies that will be implemented throughout the year. By March 2012, participants will proceed to Stage III of the CGP, where they will participate in clinics, industry and showcase events to further support their growth plans.
For more information about Cradle, visit cradle.com.my