Additional RM20 Million For Cip Next Year

KUALA LUMPUR, Nov 22 (Bernama) -- An additional RM20 million will be allocated for the Cradle Investment Programme (CIP) next year, Cradle Fund Sdn Bhd Chief Executive Officer Nazrin Hassan said today.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=710875
Published: November 23, 2012

Cradle is now running two programmes -- CIP for funding development and commercialisation of technological ideas and companies and the Coach and Grow Programme (CGP), a market-driven programme to train entrepreneurs.

CIP is Malaysia's first development and technology commercialisation funding programme that enables the country's budding innovators and aspiring entrepreneurs to transform their raw technology-based ideas into commercially viable ventures or local start-up companies to attain commercialisation.

Since it began in 2003, the Finance Ministry has allocated RM100 million to Cradle for the CIP programme.

An additional RM50 million was recently added to that allocation under the 10th Malaysia Plan.

"Our additional goal to create a pipeline of high quality entrepreneurs has also been successful and we have shown regional and global investors that there are good quality deals flow in Malaysia," Nazrin told reporters after the convocation ceremony for entrepreneurs who succesfully completed the first year CGP programme.

The event was officiated by Treasury Secretary-General Datuk Seri Dr Mohd Irwan Serigar Abdullah.

Technopreneurs' Association of Malaysia is the project manager for the CGP programme while Proficeo Consultants Sdn Bhd, a niche entrepreneur coaching and training consultancy, is the CGP programme manager.

-- BERNAMA