Grants to spur commercialisation of research findings
Five Malaysian companies are set to commercialise their research findings after obtaining grants from state-owned venture capital company, Cradle Fund Sdn Bhd, under its Cradle Investment Programme 500.
The scheme expects to fund some 25 companies this year.
The five technology start-up companies, CK Agrifeed Sdn Bhd, Inteltium Technology Sdn Bhd, Medical Devices Corporation Sdn Bhd, Superceed (M) Sdn Bhd and TecForte Sdn Bhd have been selected for the commercialisation grants of up to RM500,000 each, Cradle Chief Executive Officer, Nazrin Hassan said at the roll-out of the fund in Kuala Lumpur on 8 June 2010.
Cradle Fund, an agency under the purview of the Ministry of Finance, handles the RM100 million fund which provides commercialisation grants as well as pre-seed funding to start-ups with strong growth potential, like those in the information technology sector (IT).
Of the amount, some RM33.9 million has been given to nurture 402 business ideas, half of which has been successfully commercialised.
As the fund would be fully utilised by year-end, Nazrin expects the agency to be allocated additional fund under the 10th Malaysia Plan period from 2011 to 2015.
Adapted from NST Business Times 9 June 2010
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