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6 startups on how they bagged RM90K-RM500K grants from Cradle in 2022

Published on 03/01/2023

A few months ago, Cradle Fund Sdn Bhd (Cradle) awarded a total of RM8.24 million to 28 tech companiesunder the first batch of its CIP Spark and CIP Sprint programmes. 

These conditional grants can support, nurture, and prepare startups with their prototype or business model development, market validation, market access, and commercialisation activities. 

CIP Sprint is a grant awarding up to RM600,000 to help startups scale. 

It is open to universities and research institutions’ spin-off companies, as long as the companies are registered as Sdn Bhd. This grant is also open to foreign-owned companies, where the majority of their employees are Malaysian.

Companies that apply must be less than seven years old with revenue of less than RM5 million, and hold intellectual property (IP) rights for their solutions. 

CloudJoi: RM400,000

What do you get when you cross streaming and theatre? 

CloudJoi. It’s a digital venue for performing arts founded by Dennis, William, and Kevin, who each has a background in such areas. 

Here, viewers from around the world can tune in to livestreamed or pre-recorded shows to share in the experience, as shows are all played at predetermined times. 

It was initially developed in May 2020 to help performing arts practitioners sell tickets, and perform live over the internet amidst global lockdowns. As an indication of CloudJoi’s relevance in the industry, the Malaysian platform has partnered with Broadway On-Demand. Doing so brought over 20 Broadway and West End shows to Malaysian and Taiwanese audiences.

Instead of charging a subscription fee, CloudJoi takes commissions between 5% to 30% from ticket sales and its on-demand services.

Kevin believes CloudJoi’s passion and commitment to the performing arts industry, and innovating a platform for people to appreciate and engage in arts and culture, are key factors to bagging RM 400,000 from Cradle’s CIP Sprint.

Judging from the few names highlighted here, it can be said that an opportune industry Cradle is currently eyeing has to do with exciting innovations in technological advances and digitalisation services for SMEs.

The high cost of running a startup is always on the rise. With operational and personnel costs getting more demanding on lean businesses, digital solutions that can help create efficiencies and automate workflows are always welcomed.

Cradle is now accepting new applications for its CIP Spark and CIP Sprint programmes, and you can submit one for your business on its website.

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