KUALA LUMPUR: Pre-seed and seed fund provider Cradle Fund Sdn Bhd said it is enjoying a higher success rate among its ventures, compared to other grant-providers in the country.
It said that one out of two Cradle Fund recipients successfully commercialised their applications last year — a 50% commercialisation rate. The other venture capitalists, it claimed, averaged about 10%.
Chief executive officer Nazrin Hassan said Cradle Fund’s commercialisation rate is up 5%, from 45% the previous year.
“I believe this shows the quality, resourcefulness and resilience of Malaysian technopreneurs,” he said.
He said Cradle Fund is looking to further increase its commercialisation rate — to more than 55%.
During Cradle’s previous Key Performance Index (KPI) year, which ended May 2009, it funded about 117 innovations.
“We are still coming through the current KPI year, which will end in May, and will only have those numbers then,” Nazrin said.
Cradle Fund offers two types of conditional grants — pre-seed and seed/commercialisation.
The pre-seed grants offer funding of up to RM150,000 to teams or individuals, while the Cradle Investment Programme (CIP) 500 seed/commercialisation grant offers up to RM500,000 to budding Malaysian technopreneurs and other entrepreneurs.
Nazrin also said Cradle helps its grant recipients procure more venture capital or angel investments, as well as secure sales and contracts. It also handles the selling or licensing of their intellectual property to third parties.
Cradle Fund said it is also looking to do more co-investments with individual angel investors and corporate investors, both locally and regionally, to help stimulate early-stage funding.
“CIP 500, aside from providing commercialisation funding, plays a key role in supporting such initiatives,” Nazrin said.
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