IPOH: A new start-up funding programme by Cradle Fund Sdn Bhd has been launched, with a total of RM10mil up for disbursement.
Known as Cradle Elevate, the programme was launched by Science, Technology and Innovation Minister Datuk Chang Lih Kang during the opening of the Cradle Live! Roadshow Perak 2026 here on Tuesday (April 28).
Chang said the programme is meant to fill the gap in early-stage funding for start-ups.
"Previously, Cradle was more for (offering) grants for pre-seed and seed (fundings).
"But from seed to Series A, we see there's another gap where we need to fill in," he said in a press conference after the opening.
"It is not a grant, but equity, whereby Cradle will choose and then fund a company while taking equity.
"A company can get from RM500,000 up to RM2mil," he said, adding that applications can be made via the MYStartup website.
Seed funding is the first official stage of equity financing for businesses, where capital is raised from outside investors to finance initial steps, such as market research, product development, and building a founding team.
Series A is the significant round of venture capital financing that focuses on accelerating product growth.
Also present were state executive council members Teh Kok Lim and Mohd Azlan Helmi Helmi and Cradle Fund Sdn Bhd group chief executive officer Norman Matthieu Vanhaecke.
