Two new schemes from Cradle - CIP Ignite and CIP Accelerate

In order to provide fundings to more new start-up companies, Cradle Fund Sdn Bhd is allocating RM26.5 million to fund its two newly launched investment programmes, namely Cradle Investment Programme Ignite (CIP Ignite) and Cradle Investment Programme Accelerate (CIP Accelerate).

According to Cradle, out of the total allocation, RM16.5 million will be used for CIP Ignite with the remaining RM10 million earmarked for CIP Accelerate.

What are the differences?

• CIP Ignite is a programme that provides a conditional grant and value-added assistance up to RM500,000 for tech-based start-ups, local SMEs, or spinoff companies from Universities and Research Institutes.
  
  

  i) Ignite i is specifically for deep tech startup at Technology Readiness Level (TRL) 5 to 7 to validate, convert validated prototype to market-ready products and/or refine their prototype.

  
  

  ii) Ignite ii is for innovative tech-based startup at Technology Readiness Level (TRL) 8 to 9 for the commercialisation of the product.

  
  

  
  
• CIP Accelerate is a programme that provides funding of up to RM2,000,000 and value-added assistance that specifically caters to deep tech startups, SMEs and spinoffs from Universities and Research Institutes.

  
  

  CIP Accelerate assists these early stage deep tech companies to commercialise their proven system and ready product at Technology Readiness Level (TRL) 8 and above.

Are you Eligible to apply CIP Ignite?

• Sdn Bhd (including Universities & Research Institute spinoffs)
• Revenue not more than RM5 million
• Not a subsidiary of a company (less than 25% ownership by another entity)
• 51% Malaysian owned
• Minimum paid-up capital of RM10,000
• Minimum 2 directors (at least one must be Malaysian)
• Must have IP rights (including Universities & Research Institute spin-offs)

Are you Eligible to apply CIP Accelerate?

• Sdn Bhd (including universities & Research institutes spinoff and SMEs)
• 51% Malaysian owned
• Revenue of not more than RM5Mil
• Minimum 2 directors (at least one must be Malaysian)
• Minimum paid-up capital of RM10,000
• Not a subsidiary of a company (shareholding not more than 25%)
• Must have IP rights (rights i.e. licensing for commercialisation)
  (For universities, the company must comply with the prerequisite conditions to settle the rights issues with the universities to avoid difficulties in the future. Agreement will be signed between the company and Cradle only.)

Source: Cradle

In collaboration with Fin8 Corporate Advisory Sdn Bhd

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