FINANCING SCHEME

CIP Spark

Provider

Craddle Fund Sdn Bhd

Objective

It is a funding in the form of a conditional grant to assist early-stage entrepreneurs to develop and commercialize their product

Funding Amount

At least 60% is for developmental expenses & maximum of 40% for non-developmental expenses (including commercialization expenses) up t10 18 months.

Claim Method

The funds will be disbursed by way of advanced payment at the beginning of every milestone. Meeting milestone deliverables is a pre-requisite for subsequent advance payments. Any unutilized amount will be deducted from the next advance payment

Eligibility

For individuals, this application is open to Malaysians and non-Malaysians residing in Malaysia.

 

For companies, your company shall not be more than 5 years old, and earned revenue must not exceed RM3 mil. For companies who are has less than 51% of Malaysian owners, majority employees must be Malaysians and there shall be no other company that holds more than 25% of your company’s share. Your company should also own the IP rights, including university and research institute spin-offs.

Application Procedure

Fill the form to get the application procedure link