For Immediate Release

Cradle Funds Pioneer CIP 500 Recipients Announced

5 Technology Start-Ups Selected to Receive Commercialisation Funding
Kuala Lumpur, 8 June 2010 Cradle Fund Sdn Bhd, manager of the Cradle
Investment Programme (CIP), today announced the first five (5) recipients of its CIP
500 commercialisation grant, which offers funding of up to RM500,000 to help local
start-up companies attain commercialisation.
The five start-up companies, drawn from a range of industries, consist of CK
Agrifeed Sdn Bhd, a company involved in research, development and
commercialisation of microbial-based animal feeds; Inteltium Technology Sdn
Bhd, which provides automated solutions based on their proprietary microcontroller
technology platform PlugIO; Medical Devices Corporation Sdn Bhd, a research
and development based regional leader in the manufacture of medical devices;
Superceed (M) Sdn Bhd, a company that provides hosted contact centre software
and on-demand workforce on their Virtual Contact Centre model; and TecForte Sdn
Bhd, an ICT security focused company providing enterprise security management
solutions.
Nazrin Hassan, Chief Executive Officer of Cradle Fund Sdn Bhd, said, The CIP 500
commercialisation fund, a pioneer pure commercialisation grant, is a medium term
measure that helps fill up the dire funding gap at the commercialisation stage in
Malaysia and plugs up a glaring market failure, as there is no private sector venture
capital player that is willing to fund at this stage currently. It is a trailblazing effort
which we believe, will be emulated by other agencies under the 10 th Malaysia Plan
and that will help widen the commercialisation funding pipeline for more
technopreneurs.
Deputy Finance Minister I Senator Dato Donald Lim Siang Chai, at the official
ceremony today said, Back in 2003, the Ministry of Finance was suitably impressed
by the zeal of a group of young people to provide real support and financial
assistance to the many promising technopreneurs to help them develop their ideas
sufficiently to reach commercialisation. The Ministry is happy with Cradles
performance since inception, having funded 402 ideas and more importantly,
achieving the highest commercialization rate in the country by a pre-seed fund at 50
percent. Today, I am proud to congratulate them on successfully implementing the
CIP 500 programme and laud them for their continued good work. To the pioneering
recepients, Syabas! You are exemplary Malaysians.

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Nazrin added, We hope that this pioneer batch of CIP 500

recipients will mark the beginning of many great things to
come. Cradle aims to help create a more vibrant angel investor community, which we
can co-invest with, on deals. We are also looking to deepen our mentoring and
competency building efforts and provide business knowledge to our recipients.
Malaysian technopreneurs are sufficiently technology-savvy, but they need to be
more business savvy, to succeed and survive in the first 3 years of their business.
The CIP 500 conditional seed grant, the first pure technology commercialisation fund
to be approved in Malaysia, provides funding of up to RM500,000 to help budding
Malaysian companies with innovative technology ideas attain commercialisation.
Together with necessary commercialisation support, CIP 500 provides funds for
product development, testing, design and packaging, marketing expenses, IP search
and registration, employee remuneration, rental and utilities, hardware and software
purchase, training, business plan refinement, and technology licensing and
acquisition.
Nazrin also said, Cradle Fund Sdn Bhd anticipates that the majority of the 900+
companies that have received pre-seed or pre-commercialisation funding under the
Cradle Investment Programme or other grants will need funds to commercialise.
CIP500 targets to fund 25 companies this year, and to date, the response has been
encouraging. There have been more than 100 applications for CIP500 in between
the period of January-May 2010, and we look forward to hearing from many more
companies.
The CIP 500 programme continuously accepts applications at www.cradle.com.my.
More information is also available on the same website.
-end-

About Cradle and Cradle Investment Programme (CIP)

Cradle Fund Sdn Bhd, an agency under the Ministry of Finance, Malaysia (M0F) is the
organisation that manages the Cradle Investment Programme. A total sum of RM100 million
has been allocated to Cradle for this programme by MOF.
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The Cradle Investment Programme (CIP) is Malaysias first

development and technology commercialisation funding
programme that enables Malaysias budding innovators and aspiring entrepreneurs to
transform their raw technology-based ideas in the ICT, non-ICT and high growth technology
industries into commercially viable ventures or local start-up companies to attain
commercialisation. Cradle offers two types of conditional grants pre-seed (CIP Catalyst &
U-CIP Catalyst) and seed/commercialisation (CIP 500). The pre-seed grants offer funding of
up to RM150,000 to teams of individuals to develop their innovative technology ideas into
prototypes or proof-of-concepts; whilst the seed/commercialisation grant offers funding of up
to RM500,000 to help Malaysian start-up companies with innovative technology
products/services to attain commercialisation.
To learn more, please visit Cradles portal at www.cradle.com.my. Applications for the grants
are also submitted online via the portal.
Media Contact
Julia Nicholas, Director
(T) +603 7955 7269
(F) +603 7954 2278
(M) +6012-328 8117
(E) julia@rantaupr.com.my
JC Wong, Consultant
(T) +603 7955 7269
(F) +603 7954 2278
(M) +6012-388 6570
(E) jc.wong@rantaupr.com.my

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