Kuala Lumpur, May 18 – Cradle Fund Sdn Bhd (Cradle) the early stage startup influencer, announced its new investment product called Cradle Investment Programme 300 (CIP300), following its announcement last December 2016 to revamp their long standing conditional grant products, CIP Catalyst, a pre-seed funding which funds product development up to RM150,000 and CIP500, a seed type funding for commercialisation purposes of up to RM500,000 to better suit Malaysia’s thriving start-up ecosystem.<\/p>\n
The CIP300 is a pre-seed programme which provides financial and value added assistance up to RM300,000 for entrepreneurs to kick-start innovative technology based business ventures. The purpose of this programme is to assist early stage entrepreneurs to both develop and commercialise their products. CIP300 helps address the funding gap that exists for early stage businesses at the ideation and prototyping stages as well as early commercialisation of products.<\/p>\n
A key feature of the CIP300 is a range of value added support that each CIP300 recipient will benefit from. These services are designed to help nurture, develop and prepare them for the challenges of building a tech start-up from the ground up. These value added support includes; An enhanced Coaching and Mentoring Programme throughout the funding period, Opportunity to be matched with potential investors, Match making with Cradle\u2019s partners, Internal Training Programme to support creation, innovation and commercialisation, Participation in Business and Networking Events under Cradle, and Media and Public relation support among many others.<\/p>\n
Sectors covered under this programme includes ICT, Non-ICT as well as other technology-based fields such as semi-conductors, life sciences and clean technology. This product is eligible for application by individual or locally incorporated companies operating less than three (3) years.\u00a0<\/p>\n
For each grant award, Cradle expects at least 60% to be allocated for commercialisation costs while 40% will be for product development and other non-commercialisation costs.<\/p>\n
In line with the Government\u2019s efforts to wean entrepreneurs off grants, the lower amount offered in CIP300 is to encourage start-ups to plan and opt for other options of funding such as equity crowdfunding and angel funding to improve commercialisation and growth outcomes.\u00a0<\/p>\n
Cradle\u2019s equity product, Direct Equity 800 (DEQ800) which was launched in February 2017, is a capital injection between RM300,000 to RM800,000 intended to be the next step for early stage start-ups to scale up. By weaning start-ups off grants, Cradle intends to introduce outside investors earlier ensuring local start-ups have the discipline, professionalism and focus required to propel them to the next level.<\/p>\n
Cradle\u2019s new strategic direction aims to give Malaysia\u2019s innovative entrepreneurs every opportunity to become world leading companies. It pulls together the best that the Government and Private sector already offers and adds a new focus that goes beyond grants and venture capital investment.<\/p>\n
Nazrin Hassan, Group CEO of Cradle views the local start-up ecosystem as being fairly developed. There is no lack of innovative ideas and entrepreneurial spirit in Malaysia. But many new startups don\u2019t make it beyond the critical first few years. Cradle is determined to change that and help start-ups deliver their full innovation and job creation potential.<\/p>\n
\u201cToday\u2019s local start-ups could become tomorrow\u2019s global success stories. We want to help startups to grow in Malaysia and go global. By helping them navigate from the very start, right from idea stage all the way to Series A. We now offer two products, DEQ800 and CIP300 which brings together a range of funding and value added benefits to create a more coherent framework to allow start-ups to grow and do business locally and regionally. This gives our local start-ups the opportunity in starting and scaling up a company with the help from the Government and private sector. This is about new jobs, innovation and competitiveness for Malaysia.\u201d<\/p>\n
In conjunction with the CIP300 launch, two significant Memorandas of Understanding (MoU) were sealed between Cradle, The Malaysian Business Angel Network (MBAN) and K-One Technology Bhd (KiasuLab) and Cradle, MBAN and Sunway University Sdn Bhd (Sunway Innovation Lab).\u00a0<\/p>\n
These collaborations are a milestone in Cradle\u2019s continuous efforts over the years to draw in Private Sector participation into the local start-up ecosystem and will play a key role in the provision of value added support to CIP300 recipients. These collaborations will see the Government and Private sectors join forces to explore funding, investment and other mutually beneficial opportunities.<\/p>\n
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Kuala Lumpur, May 18 – Cradle Fund Sdn Bhd (Cradle) the early stage startup influencer, announced its new investment product called Cradle Investment Programme 300 (CIP300), following its announcement last December 2016 to revamp their long standing conditional grant products, CIP Catalyst, a pre-seed funding which funds product development up to RM150,000 and CIP500, a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-516","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=516"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/516\/revisions"}],"predecessor-version":[{"id":5593,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/516\/revisions\/5593"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}