Malaysia’s Cradle Fund launches two new grant schemes for startups

Visual from Cradle's Twitter account.

Malaysia’s early-stage investment firm Cradle Fund Sdn Bhd has launched two new grant programmes namely Cradle Investment Programme Ignite (CIP Ignite) and Cradle Investment Programme Accelerate (CIP Accelerate), according to media reports.

Both the investment programmes will together provide grant funding of RM2.5 million ($583,976) to startups.

CIP Ignite will provide up to RM500,000 to convert validated prototypes to market-ready products while CIP Accelerate will provide up to RM2 million for product commercialization.

The two programmes will target early-stage technology companies where a minimum of 51 per cent stake is owned by Malaysians. These companies should be incorporated in Malaysia and their annual revenues should not exceed more than RM5 million.

The grant programmes will target information and communication technology (ICT), advanced manufacturing and engineering, food security and technology, as well as socio-economic drivers.

Aside from funding, the recipients will also receive mentoring and training opportunities, as well as value-added services to further enhance their success.

“The new grants have been developed based on what we have experienced during the COVID-19 pandemic, ” said Rafiza Ghazali, Group CEO of Cradle.

The two programmes come after Cradle’s last year announcement to enhance its Cradle Investment Programme 300 (CIP300) and Direct Equity 800 (DEQ800) in order to cater to a wider audience.

Along with these new funding programmes, Cradle targets to provide more opportunities for local companies to explore prototype development, commercialisation of innovations as well as growth acceleration.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.