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5 Companies Receives RM 500K Grants from Cradle

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.”

With the first batch of out there will be a second batch are being evaluated. If you are interested in more on the funds being dispersed by Cradle like the CIP500, visit them at www.cradle.com.my.

7.45pm Updated Superceed’s webpage.

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