It’s time to grow your business to a greater height.
CIP SPRINT
CIP SPRINT is a grant of up to RM600,000 for a maximum duration of eighteen (18) months, covers the commercialization of tech and covers SMEs. It is a funding in the form of a conditional grant to assist entrepreneurs to fund their technology based business venture.
Upon receiving the fund, the CIP SPRINT 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 SPRINT is open to companies.CIP SPRINT accepts application from companies to cover for expenses such as product enhancement, market access, market expansion and others. CIP SPRINT is disbursed to recipients via advance payment and reimbursement basis. CIP SPRINT is a conditional grant, whereby one of the conditions, is that recipients are subject to pay back for the amount that has been disbursed, in the event of of termination and other terms as stated in the funding agreement.
criteria
COMPANIES
- Sdn Bhd.
- Minimum 2 Directors
- at least 1 individual must be Malaysian
- at least 1 individual residing in Malaysia
- For <51% Malaysian owned, majority employees must be Malaysian.
- <7 Years of incorporation.
- Accumulated revenue <RM5 million.
- Have IP rights.
- No other companies hold 25% or more.
- Paid-up capital of at least RM10,000
- The company must be a Sdn Bhd.
- The company must be less than seven (7) years old at the point of application.
- The accumulated revenue of the company must not be more than RM5 million.
- The company must be at least fifty-one percent (51%) Malaysian-owned (or a majority of the employees must be Malaysians if less than 51%).
- The company must have the necessary intellectual property rights to its products.
- No other company holds 25% or more shareholding in the company.
- At least 2 directors (at least one must be Malaysian).
- The company must have a minimum paid-up capital of RM10,000.
FREQUENTLY ASKED QUESTIONS
CIP Sprint is a CONDITIONAL Convertible Commercialisation Grant.
At least 60% of the funding are for commercialisation expenses & maximum of 40% for other expenses such as product development and/or enhancements.
You can apply for CIP Sprint if you are a Sdn Bhd, which includes universities, research institute spin-offs and SMEs.
• The company shall not be more than 7 years old, and;
• Accumulated revenue must not exceed RM5 mil;
• For companies with less than 51% of Malaysians 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
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)
Funding period is up to eighteen (18) months.
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.
Yes. As CIP Sprint is a commercialisation grant, any data on traction will be able to support and strengthen the application.
However, during the funding period, company will have to achieve its revenue and traction deliverables for each of the milestone.
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.
No. Your concept/idea will be kept as private and confidential.
You will need to register and apply online via our Grant Management System. The link can be found on Cradle’s website.
