Cradle Fund Sdn Bhd announced that its Cradle Investment Programme (CIP) has had a significant impact on the economy over the years.
A study done in collaboration with HELP University revealed that the CIP has contributed RM3.4 Billion to Malaysia’s GDP and is targeted to reach RM30.8 Billion by 2030.
The report also shows that the CIP has also created 80,600 full-time jobs and attracted RM1.3 Billion in private and foreign funds over a period of eight years, from 2008.
The study concluded that from a public allocation of RM158.8 Million (2008 – 2016) Cradle has been able to support local and regional economic prosperity and the value derived from individuals, communities, and businesses from access to and use of the funds and added value support exceeds even direct jobs and wage impacts.
“The CIP demonstrates that the right funding at the right time, combined with the extensive ecosystem development and support for which Cradle is known for, can bring far greater outcomes than that of ordinary public spending” said Cradle acting group chief executive officer, Razif Abdul Aziz.
Since its establishment, Cradle has funded more than 800 Malaysian tech start-ups and that number continues to grow today.