AdminIn a celebration marking Cradle Fund Sdn Bhd’s 20th anniversary, the Ministry of Science, Technology, and Innovation (MOSTI) hailed the organization’s pivotal role in shaping Malaysia’s startup landscape. Since its inception in 2003, Cradle has emerged as a cornerstone for nurturing and elevating local startups, contributing a remarkable RM1.83 billion to the national GDP through its grant and investment programs.
Over the past two decades, Cradle has been fulfilling its core mandate of financing the local startups, distributing RM255 million worth of grants to over 1,000 local entrepreneurs. Cradle’s grant recipients have contributed RM830 million to the local GDP, whilst achieving highest commercialisation rate among government grant providers at 100% for its commercialisation grant, and 76% for its prototype grants programmes. To date, the startups funded by Cradle have created more than 80,000 jobs.
Investment programs for sustainable impact
Cradle’s investment programs, Cradle Seed Ventures (CSV), and DEQ800 have further solidified its commitment to nurturing startups. These programs have injected RM1 billion into the GDP through 43 investment portfolios, attracting RM182 million worth of follow-on investments. Moreover, these initiatives have led to the creation of over 1,000 jobs, further bolstering the startup ecosystem’s influence on the nation’s economy.
Notably, Cradle’s mandate has expanded beyond mere financing. With the introduction of capacity-building programs like the Coach and Grow Programme (CGP), early-stage startups now benefit from rigorous coaching and mentorship. More than 1,500 participants have gained insights from over 5,000 hours of mentorship, equipping them with invaluable skills to navigate the competitive landscape.
Driving Malaysia’s startup ecosystem
The recent unveiling of the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030 has positioned Cradle as a pivotal player in shaping the nation’s startup policies. With 16 comprehensive interventions spanning funding, talent, innovation, policies and regulations, and market environment, Cradle’s goal aligns with the vision to rank Malaysia among the world’s top 20 startup ecosystems by 2030.
Under SUPER 2021-2030, the MYStartup initiative, powered by Cradle, has emerged as a vital intervention. MYStartup, driven by data and community collaboration, has already made a direct impact on over 5,000 industry stakeholders. Its digital platform’s reach has been significant, with over 70,000 visits, 4,000 registered users, and 3,500 registered startups.
“Startups play a pivotal role as crucial drivers of innovation, constantly seeking opportunities to challenge norms and embrace risk-taking. This resilience and innovative spirit were evident during the COVID-19 pandemic, where local businesses, fuelled by their commitment to innovation, emerged even stronger. At the heart of this dynamic startup ecosystem stands Cradle, wholeheartedly championing early-stage startups, and nurturing their growth,” Minister of Science, Technology, and Innovation YB Tuan Chang Lih Kang said, in commemoration of Cradle’s 20th Anniversary Celebration Dinner.
Speaking during the event, Norman Matthieu Vanhaecke, Acting Group Chief Executive Officer, Cradle said that the extended mandates that were entrusted on Cradle signify the confidence as well as Cradle’s ability to spearhead the development of early-stage startups, at the same time, further solidifying the local startup ecosystem.
“We realise that as technologies evolve and funding requirements grow, the proficiency of local startups must also be nurtured. Together, the mandates entrusted on Cradle create a synergistic approach that enables startups to thrive, and through a seamless integration, startups can maximise their potential, overcome challenges and contribute to economic development as well as job creation,” he added.
Honoring contributions and celebrating success
To commemorate its 20th anniversary, Cradle hosted an appreciation dinner themed “20 Years of Catalyzing Impact and Inspiring Growth.” This event was a platform to honor and recognize the contributions of Cradle’s stakeholders and ecosystem partners. The highlight of the celebration was the recognition of outstanding startups across four categories:
- Best Female Founder: Nadhra Fauzi, Co-Founder of TresGo Sdn Bhd
- Best Male Founder: Adrian Yap & Naysan Munusamy, Founders of MoneyMatch
- Most Promising Startup: Chai Kok Chin, Founding Member of NEUON AI
- Cradle Startup Choice: Jimmy How, Founder of Involve Asia
Cradle’s remarkable journey over the past two decades underscores its unwavering commitment to fostering innovation and driving economic growth in Malaysia’s dynamic startup ecosystem. As the nation looks ahead to a future marked by technological evolution and entrepreneurial dynamism, Cradle’s role remains as critical as ever in shaping the trajectory of Malaysia’s startup landscape.
CJMY
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