KUALA LUMPUR, Nov 21 ― Early-stage start-up influencer, Cradle Fund Sdn Bhd, is set to focus on a new range of grant offerings, develop a supportive ecosystem for the hard tech space and extend outreach activities with the RM20 million allocated for it under the 2020 Budget.
Acting group chief executive officer Razif Abdul Aziz said the new range of grants with higher fund limits were designed to cater to a wider audience.
“We will be aiming for diversity, not just digital tech but also startups from the hard sciences.
“We will be combining funds with our tried and tested value-added support such as coaching and mentoring to help founders with the business building process as well as building capacity to enhance start-up resilience,” he said at the Cradle Startup Awards here today.
Cradle, he said, was also keen to participate in efforts to develop a supportive ecosystem for the hard tech space by facilitating the development of angel investors, venture capitalists, accelerators and corporates interested to invest in or support hard tech innovation.
“We hope to be able to do our part in de-risking hard tech innovations sufficiently for private funds and support to come in.
“Finally, we hope to extend our outreach activities to reach underserved areas, sectors and communities to achieve more inclusivity and diversity in order to fund the very best start-ups,” he added.
Razif said Cradle had been championing and helping early-stage start-ups its investment programme since inception in 2003.
Meanwhile, Energy, Science, Technology, Environment and Climate Change (MESTECC) Minister Yeo Bee Yin urged more entrepreneurs from biotech and green technology sectors to come forward and present their valuable ideas to help tackle pressing environmental issues Malaysia facing.
“We are in the middle of a climate change crisis and we are in dire need of viable solutions to safeguard our future.
“With danger comes opportunities to tap into the burgeoning green economy that will bring about a healthier environment while creating jobs and wealth for our country,” she added.
Her speech was read by MESTECC deputy secretary-general Dr Mohd Nor Azman Hassan. ― Bernama