Cradle is actually an agency that was setup under the Ministry of Finance (MOF) to give out grants for innovative and aspiring technology entrepreneurs in Malaysia. A total of 150 million has been injected to Cradle since 2003 onward. Basically this would be the place you will seek for funds if you have a very good idea as a start up company.
Cradle Investment Programme is the core funding program by Cradle. This investment program is to help anyone to convert their solid idea into prototype and commercialization. You will receive funding as well as guidance from mentors into realizing your ideas.
CIP Catalyst ( RM 150,000)
This is is actually a pre-seed conditional grant that helps you initialize your idea and convert it into functional prototype. There is a total of RM 150,000 where it will be given in two payments of RM 100,000 and RM 50,000. Recipients of the fund will be given 12 months time to complete their ideas into a functional prototype.
To be eligable for CIP Cataylyst
- Applicant must be 18 years and above
- Main applicant must be a Malaysian
- A team of 2 person to a maximum of 5 person is needed
CIP 500 ( RM 500,000)
This conditional grant is setup to fund any prototype into a full commercial product. Basically, this is more targeted to start-up companies in Malaysia. There are up to RM 500,000 of grants available with maximum 2 approvals per company.
To be eligable for CIP 500
- 51% of the company must be owned by Malaysians
- Company must be less than 3 years old
- Company must have IP to it’s prototype
It is great to have all these grants around to help around with businesses. To apply for the grant, you will need to write a proposal and submit to Cradle via it’s website at http://www.cradle.com.my. Grant application is not hassle free. You will need a solid idea and go through a lot of processes before your proposal is reviewed.
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