When I had an idea for the start up, I start to search for start up funding similar to Kickstarter and Y Combinator which only support people who possessed US credit card and mailing address. It's a no go for me as I stayed in Malaysia.
Fortunately there is a Cradle Investment Programme (http://www.cradle.com.my/cms/home.jsp) in Malaysia for the head start. Below are some requirement for application.
Looks like I should start finding some partners!
Pre-seed - CIP Catalyst
CIP Catalyst is one of the two pre-seed conditional grants offered by Cradle under the CIP.
The CIP Catalyst which is targeted at entrepreneurs in general, offers conditional grants of up to a maximum of RM150,000 (via two tranches of RM100,000 and RM50,000) to teams of innovative individuals with innovative, technology-based ideas in the ICT, non-ICT and high growth technology industries.
The primary objective of CIP Catalyst is to facilitate the transformation of innovative technology-based ideas from entrepreneurs of all walks of life into commercially viable business enterprises that would in turn spur the growth of an innovative knowledge-based society and economy in Malaysia.
With the CIP Catalyst, recipients are given a 12-month period to complete the development of their prototypes or proofs-of-concept.
Any team of entrepreneurs which meets the following criteria:
- Main applicant is a Malaysian aged 18 years and above, and
- Main applicant is permanently residing in Malaysia, and
- The team comprises a minimum of two (2) members and a maximum of five (5) members per application.
Categories of funding covered under the CIP Catalyst are broad so that recipients will be able to get all the help needed to develop their innovative ideas. These categories include the:
- Prototype development
- Proof-of-concept development
- Business plans development
- Purchase of market feasibility research
- Search and registration of Intellectual Property (IP)
- Surveys on concrete statistical data
- Product sampling expenses
The CIP Catalyst funds the following industries:
- Mobile/wireless tech
- Creative multimedia & content development
- Shared services outsourcing
- Hardware design
- Software development (Bio-informatics, consumer productivity applications, data mining & business intelligence, electronic design automation, enterprise & business services, gaming & interactive entertainment, Internet & e-Commerce, networking, communications & connectivity, open source, operating systems, security)
- Internet-based businesses
- Biotechnology (Bio-informatics, Bio-chemicals, Bio-diagnostics tools, agriculture and food tech)
- Advanced materials
- Advanced manufacturing-related tech
- Renewable energy / waste management / recycling tech
- High-technology consumer & business products
- Semi-conductors (manufacturing of integrated circuits, microprocessors, logic devices, chipsets, memory chips)
- Life sciences (neuroscience, organic chemistry, potential drug target & method of treatment inventions, protein & nucleic acid-based inventions, small molecule chemistry & pharmaceuticals, medical devices, drug delivery systems, molecular biology assays, tools & techniques, analytical chemistry)
- Clean technology (energy consumption, power management, alternative fuels & materials)
As a CIP Catalyst recipient, entrepreneurs will be provided with more than just prototype funding. Recipients will also get value-added services that will help nurture, develop and prepare them to become successful innovators and entrepreneurs, such as:
- Monitoring of the idea development
- Further funding and market access support
- Networking opportunities
- Product and idea refinement
- Financial training
To apply for the CIP Catalyst grant, follow the steps below:
- Visit www.cradle.com.my
- Register to obtain your login and password
- Once logged on, click on the "CIP Application" tab
- In the pop-up box, select Prototype Development
- Fill in the online form
- Once all information is complete, click SUBMIT
- A notification email will be sent to confirm receipt of application
- All CIP Catalyst applications MUST be submitted online via www.cradle.com.my. Email applications are NOT accepted.
- If you are unable to complete the form straight away, click SAVE and continue another day when you have all the information at hand.
- Only click SUBMIT if you have completed the entire form and is ready to submit your application.
- Applications are processed in batches every month. Batch closing is at end of every month. Applications submitted after the batch closing date will be processed in the following batch.