Cradle Fund contributes RM1.8bil to national GDP since 2003 FMTNews FMTBusiness
Cradle Fund acting group CEO Norman Matthieu Vanhaecke said the agency is highly capable in strengthening Malaysia’s startup ecosystem.
“Cradle Fund’s grant recipients have contributed RM830 million to the national GDP whilst achieving the highest commercialisation rate among government grant providers at 100% for its commercialisation grant, and 76% for its prototype grants programmes,” said Mosti in a statement today. Meanwhile, Mosti said Cradle Fund’s investment programmes – Cradle Seed Ventures and DEQ800 – had contributed RM1 billion to the GDP through 43 investment portfolios and raised RM182 million worth of follow-on investments.On MYStartup, a data-driven community initiated by Mosti and powered by Cradle Fund, Mosti said the initiative had made a direct impact on more than 5,000 industry players.
Science, technology, and innovation minister Chang Lih Kang said startups play a pivotal role as crucial drivers of innovation, by constantly seeking opportunities and taking risks to challenge existing norms.
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