Assalamualaikom w.b.t and Greetings,
For Three weeks we has struggled to attending Cradle Grant Investment programs. There are about 13 of YS (Young Skalian under SKALI SPARK Programme). The flow of programs is by attending Talk Session on 11st October 2012, Application Clinic on 18th October 2012 and maybe on end of this October will be the interview session.
There are several YS that thinking to create their own business and hope be a selected to own the grant. Yesterday its was Application Clinic and i am went with my partner by motorcycle.
I hope this is my big opportunity but i am worry about idea hijack. Because to apply this we need to prepare the best and attractive reality of Business Modal Plan, Market research, Analysis and so on.
There are also CIP500 mean RM500K grant but i am not interested yet. My target is Pre-Seed or CIP-Catalyst that we can get maximum RM150K.
The application requirement is too strict and need lots of supported data from researches, analysis, surveys, beta tester, demands in sectors and so on. Its optional but its make our application more highlighted that others or simply we can be rejected.
Pre Seed Funding Grant
For people who have
idea but have no product whatsoever nor any business plan in hand. This
funding is for the
pre seed stage where you will develop your product prototype and commercialize it. Therefore take note that this funding is primarily to
:
develop your idea into a prototype product.
Once
you have a prototype, it would be much
easier to get financing to grow your business.
Think of it like this,
you go to a bank and ask for loan, you have a
working prototype, it would be easier to convince your panel to get the
loan!
This is a
conditional grant. That means you
don’t have to pay back
except if you do not meet the conditions agreed between you and CIP,
you would be liable to pay back. (example: failure to implement the
agreed milestones)
The
maximum amount is RM150,000. However, it is delivered in tranches (sections) which means for
tranche 1 the maximum amount is
RM50,000. If you qualify you can apply for tranche 2 and 3 which is worth RM50,000 each.
For Cradle Investment Programme or called CIP focuses on many areas for pre-seed funding. If your
business idea is related to the industry below, you are on track for the funding:
- Software and information services
- Internet: e-content, e-commerce & e-content
- Communication and networking: mobile data
- High-tech consumer and business products
- Electronic and semi conductors
- Medical devices and advanced materials
- Biotechnology and life sciences
- Environmental resources management and renewable energy
- Technology innovation created for any industry
Eligibility criteria is as below:
- Malaysians and aged 18 above
- Minimum 2 applicants to maximum 5 applicants
What are the
allowable expenses (these are the only
expenses allowed, no such thing where you get RM50,000 in cash, the
funds are utilized only for the allowable expenses):
- Development of prototype
- Business Plan
- Purchase of market feasibility research
- IP search and registration
- Survey on statistical data
- Product sampling expenses
The product I mentioned above was CIP but there is also another
product called U-CIP which focuses on research products created by
university researchers to transform it into a prototype.
For more information, go to
