CIP Sprint

CIP Sprint

Funds Malaysian startup commercialization through seed-stage convertible financing and early market traction.

CIP Sprint is a seed-stage conditional convertible commercialization grant administered by Cradle Fund Sdn Bhd, the Malaysian government-backed startup agency under the Ministry of Science, Technology and Innovation (MOSTI). It is one of two headline programs on Cradle's active grants portfolio. The program funds Malaysian Sdn Bhd companies that are ready to commercialize innovative technology products and already have demonstrated product or service traction. Applications are accepted continuously with no fixed deadlines; approval takes an estimated two to four months from submission through Cradle's Grant Management System.

Eligible applicants must be a Sdn Bhd (private limited company) incorporated in Malaysia, less than seven years old at time of application, with accumulated revenue not exceeding RM5 million and minimum paid-up capital of RM10,000. At least two directors are required, with a minimum of one Malaysian director. No external company may hold 25% or more shareholding. If less than 51% Malaysian-owned, the majority of employees must be Malaysian. Applicants must own their intellectual property or hold an exclusive licensing agreement. The award provides up to RM600,000 disbursed over a maximum 18-month period via advance-and-reimbursement. At least 60% of funds must go to commercialization expenses, with a maximum 40% for product development enhancements, market access, and market expansion. Importantly, the grant is convertible — Cradle retains equity-like upside rights on commercial success, with conversion terms determined at the time of award.

The application process involves online submission of a pitch deck, document verification for shortlisted applicants, and a pitching session. During funding, companies must achieve revenue and traction milestones at each disbursement stage. Cradle also provides value-added business services alongside the grant, covering business model development, market validation, and market access support. Contact for inquiries is enquiries@cradle.com.my or +603 4045 8600.