For Immediate Release

Cradle Leaps into Rabbit Year with Exciting Plans

Kuala Lumpur, 14 February 2011 – Cradle Fund Sdn Bhd, manager of the Cradle Investment Programme (CIP) under the auspices of the Ministry of Finance (MoF), welcomed the Year of the Rabbit with members of the technopreneur community, industry partners and friends from the media in a ‘lou sang’ cum he-tea networking session today.

In his welcome address, Nazrin Hassan, Chief Executive Officer of Cradle Fund Sdn Bhd said, “As we embrace a broader scope of work this year, we hope that the Year of the Rabbit will bring Cradle and all our entrepreneurs, partners and friends greater growth and all manners of welcome blessings.”

“This year, we shall focus significantly more of our energy on the quality and outcomes of our grant recipients, and work on growing the ecosystem mechanisms that help improve an entrepreneur’s growth prospects in the 3 years after commercialisation. We would like to create more business-savvy technopreneurs with scalable business models that can not only succeed in the domestic market, but has regional or global potential,” addded Nazrin.

“We’ve managed to do well in commercialising technology ideas and creating many technology SMEs – now, it’s time to go further and create companies that can scale, grow rapidly and penetrate the international markets.” Nazrin elaborated.

“As announced in the Budget 2011 last year, Cradle will also be managing the Entrepreneurship Enhancement Training Programme (EETP), as well as transitioning towards market oriented funding. In addition, we will be working towards encouraging more angel investment and private sector funding, particularly in the earliest stages,’Nazrin also said.

The gathering saw the attendance of XXX guests, including Cradle grant recipients, members of the Cradle team, entrepreneurs, well known personalities in the field of innovation, and journalists who often cover news on Cradle. The attendees spent much of their time catching up with each other and exchanging ideas on the industry and new innovations.

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