Cradle Fund

This is a conditional convertible commercialization grant designed to support technology-based business ventures, particularly SMEs, with funding up to RM600,000 for a maximum period of 18 months. The program aims to accelerate the growth and commercialization of tech innovations by providing financial assistance and value-added support.

Objectives:

• To fund the commercialization phase of technology-based products or services.
• To help entrepreneurs enhance their products, expand market access, and scale their business.
• To nurture recipients through business networking, market validation, business model development, and market access support.

Target Beneficiaries:

• Malaysian-incorporated private limited companies (Sdn Bhd) less than 7 years old.
• Companies with accumulated revenue below RM5 million.
• At least 51% Malaysian ownership or majority Malaysian employees if ownership is below 51%.
• Companies must have intellectual property (IP) rights or valid licensing agreements.
• Companies with at least two directors, one of whom must be Malaysian and residing in Malaysia.
• Paid-up capital of at least RM10,000.
• No other company/entity holding 25% or more shares.

Application Process:

• Applications are submitted online via Cradle’s Grant Management System.
• Applicants must submit a pitch deck and relevant documents for eligibility verification.
• The process from pitching to approval typically takes 2 to 4 months.
• Funding is disbursed via advance payments and reimbursements based on milestone achievements.
• The grant is conditional, requiring repayment if terms are breached or the project is terminated.

Key Features:

• Up to RM600,000 funding for up to 18 months.
• Minimum 60% of funds must be used for commercialization expenses; up to 40% for product development/enhancements.
• Support includes business networking and market access facilitation.
• Confidential handling of applicants’ ideas and IP.
• Milestone-based funding disbursement ensures accountability and progress.
• Suitable for startups, university spin-offs, and research institute spin-offs with viable tech commercialization plans.

This program is ideal for tech startups seeking substantial funding and strategic support to bring their innovations to market and scale their business effectively.