Malaysian startups supported by Cradle Fund have made a significant contribution to the country’s economy, according to the Ministry of Science, Technology, and Innovation (MOSTI). Since its establishment in 2003, Cradle Fund has contributed RM1.83 billion ($434 million) to the national GDP, creating 80,000 jobs in the process.
Cradle Fund has been fulfilling its core mandate of financing local startups over the past two decades. It has distributed RM255 million ($60 million) worth of grants to more than 1,000 entrepreneurs, with grant recipients contributing RM830 million ($196 million) to the local GDP. The agency has achieved a 100% commercialization rate for its commercialization grant, the highest among government grant providers, as well as a 76% rate for its prototype grants programs.
In addition to grants, Cradle Fund operates investment programs such as Cradle Seed Ventures (CSV) and DEQ800, which have contributed RM1 billion ($236 million) to the GDP through 43 investment portfolios. These investment programs have also raised RM182 million ($43 million) in follow-on investments and generated over 1,000 jobs.
Cradle Fund has expanded its initiatives beyond grant financing, including capacity-building programs like the Coach and Grow Programme (CGP). CGP has provided rigorous coaching and mentorship to over 1,500 participants through 5,000 hours of mentorship.
Cradle’s mandate has been extended to include shaping Malaysia’s startup policies, as outlined in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030. The vision is to position Malaysia among the top 20 startup ecosystems in the world by 2030. MYStartup, a data-driven community powered by Cradle, is part of the SUPER interventions and has already made an impact on over 5,000 industry players.
Commenting on Cradle Fund’s achievements, Minister of Science, Technology, and Innovation, YB Tuan Chang Lih Kang, praised the dedication of the agency’s workforce and emphasized the importance of startups as drivers of innovation in challenging times.
During its 20th Anniversary Celebration Dinner, Cradle Fund recognized inspiring startups through different categories, including Best Female Founder, Best Male Founder, Most Promising Startup, and Cradle Startup Choice.
Cradle’s contributions to the Malaysian economy demonstrate its ability to nurture early-stage startups and support the growth of the local startup ecosystem. The agency’s investments and grants have not only boosted the national GDP but also created tens of thousands of jobs. By continuing to prioritize innovation and entrepreneurship, Cradle Fund plays a crucial role in positioning Malaysia as a thriving startup hub.
