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CRADLE INVENTMENT PROGRAMME IGNITE (CIP IGNITE) From Cradle Fund Sdn bhd (Deep Tech R&D and Non Deep tech commercialize Grant)   Objective/Activity ​ CIP Ignite is designed as a conditional grant of up to RM500,000 to support early-stage tech-based start-ups, tech-based small and medium enterprises or spin-off companies from universities or research institutes. ​ The grant comprises two components, namely CIP Ignite (i) for deep tech innovations and CIP Ignite (ii) for other innovative tech-based companies. Type of Cmapany PartnershipSendirian Berhad (Sdn. Bhd.)Berhad (Bhd)Limited liability partnership (LLP)IndividualNon Profit Organization (NGO) Natural of Business ManufacturingServiceTradingIT DevelopmentICTMedicalR&DLogisticGreen TechOther Sales a Year Below 300k 300k - 20mil 20mil - 50mil 50mil above Company Registered How Long (Year) Below 1 yers 1 - 3 Year 3 years above Propose of Grant Research and developmentCommercialisation new ProductTraining for staffExportDevelop a new website or AppsGreentech projectProducts CertificateIndustry 4.0SoftwareExhibitionAdvertising & PromotionE-CommerceRenovation cause of getting CertificateWarehouse SystemMachinery Cost of the project (RM) Malaysian shareholder 100% Below 50% Above 50% Above 60%

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. for validation, conversion and refinement of products.

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

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Target Sectors

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Sectors covered under these programmes include information and communications technology, advanced manufacturing and engineering, food security and technology and socioeconomic drivers.

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Criteria

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• Deep tech companies at Technology Readiness Level (TRL) 5 to 7

• Sdn Bhd (including uni spinoff & SME Categories)

• Accumulated revenue not more than RM5 Million

• 51% Malaysian owned

• Minimum 2 directors (at least one must be Malaysian)

• Minimum paid-up capital is RM10,000

• Not a subsidiary of a company and the company should have less than 25% shareholding of any entity
  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.

• 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.