Malaysia’s early stage start-ups influencer, Cradle Fund Sdn Bhd (Cradle) reveals two new investment programmes, Cradle Investment Programme Ignite (CIP Ignite) and Cradle Investment Programme Accelerate (CIP Accelerate) following its announcement last year to further enhance its Cradle Investment Programme 300 (CIP300) and Direct Equity 800 (DEQ800) to cater to a wider audience.
The new funding programmes provide more opportunities for local companies to explore the commercialization of innovation as well as accelerate their growth.
Group Chief Executive Officer of Cradle, Rafiza Ghazali said, the new grants have been developed based on what they have experienced during the Covid-19 pandemic.
“The world we live in is changing rapidly and the challenges we face today and in the future can only be overcome by harnessing technology and innovation if we are to accelerate recovery and to remain competitive.
“We can no longer afford ‘business as usual’ to find innovative, technology based, solutions for the pressing issues Malaysia faces such as climate change access to better healthcare, and food and energy security,” she said in a statement.
The CIP Ignite is designed as a conditional grant of up to RM500,000 to help support early stage technology-based start-ups, tech based Small and Medium Enterprises (SMEs) or spin-off companies from universities or research institutes.
The grant is divided into distinct two components – CIP Ignite (One) for deep tech innovations and CIP Ignite (Two) for other innovative tech-based companies. These new funding programmes were designed to create more opportunities for early stage companies to commercialise their innovations and create value in the market.