Malaysia’s Cradle Fund attracts $10m seed funding for CIP Catalyst programme

Photo: Reuters

The Malaysian government-linked early-stage investment fund, Cradle Fund Sdn Bhd, has attracted an additional RM41 million ($9.9 million) seed funding or commercialisation funding from external investors – both local and foreign – from 2008 to 2016 for its CIP Catalyst programme.

CIP Catalyst was launched in 2008 with up to RM150,000 ($36,372) financing to fund innovative ideas and prototype development. Between 2008 and 2016, 375 ideas were approved where 168 were commercialised, with 42 ideas successfully obtaining further funding. Total approved funding was RM54.5 million ($13.22 million).

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