Imagine having the power to bring your ideas to life.
CIP SPARK
CIP SPARK is a grant of up to RM150,000 for a maximum duration of eighteen (18) months, covers the development and pre commercialization of for technology start-ups. It is a funding in the form of a conditional grant to assist early-stage entrepreneurs to develop and commercialize their product.
Upon receiving the fund, the CIP SPARK recipients are supported with business networking opportunities and other value-add services which will help nurture, develop and prepare them with business model development, market validation skill and market access.
CIP SPARK is open to both companies and individuals. CIP SPARK accepts applications from various stages from ideation, prototype development, product enhancement. CIP SPARK is disbursed to recipients via advance payment and reimbursement basis. CIP SPARK is a conditional grant, whereby one of the conditions, is that recipients are subject to pay back the amount disbursed in case of termination and other terms as stated in the funding agreement.
criteria
individual
- Minimum 2 individuals in a team (at least 1 Malaysian).
- Minimum 1 individual residing in Malaysia (Malaysian / Non Malaysian)
COMPANIES
LLP, ENTERPRISE & SDN BHD
- For <51% Malaysian owned, majority employees must be Malaysian.
- <5 years of incorporation.
- Accumulated revenue <3 million.
- Have IP rights.
- No other companies hold 25% or more.
- No paid-up capital requirement.
FREQUENTLY ASKED QUESTIONS
CIP Spark is a CONDITIONAL Development / Pre-Seed Grant to fund
At least 60% of the funding are for developmental expenses & maximum of 40% for non-developmental expenses (including commercialisation expenses).
For individuals, the application is open to Malaysians and to non-Malaysians residing in Malaysia. Need to have at least 2 individuals in the application.
For companies (PLT, Enterprise, and Sdn Bhd):
• The company shall not be more than 5 years old, and;
• Accumulated revenue must not exceed RM3 mil;
• For companies with less than 51% of Malaysian ownership, majority of its employees must be Malaysians;
• There shall be no other company/entity holds more than 25% of your company’s share.
• Your company should also own the IP rights, including university and research institute spin-offs.
Yes. The company must own the IP and / or have the rights to the IP.
You will need to submit your pitch deck based on the template provided. There are other documents for the purpose of the verification of eligibility, however these will only be required once your application has been shortlisted.
Once your application is accepted and called for the pitching session, it is estimated to be within two (2) to four (4) months from pitching to the approval stage (provided that documentations are complete).
The funding period is up to eighteen (18) months.
At least a functional prototype or minimum viable product (MVP) by the end of funding. Additionally, the team would be required to run a demo session and submit development progress report throughout the funding period.
The funds will be disbursed by way of advanced payment and Reimbursement. Meeting milestone deliverables is a pre-requisite for subsequent advance payments and reimbursement. Any unutilised amount will be deducted from the next advance payment.
Not necessarily. It will depend on the stage of the product development.
No. Your concept/idea will be kept as private and confidential.
No. The pitching sessions will be done as closed sessions.
You will need to register and apply online via our Grant Management System. The link can be found on Cradle’s website.
