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to complete your online Idea Application form. Please do not email or fax this document to CIP. CIP only accepts the Idea Application via its online form at http://www.cradle.com.my. Please indicate the type of CIP application
Normal Entrepreneurs please select Entrepreneur CIP Catalyst University Related please select University CIP Catalyst
Please select the right category by using the definitions guide. ICT & Non-ICT areas that CIP funds and doesn’t is highlighted. Check if your idea is something we consider or not here.
Title of Idea
Please pick a good, short, catchy, concise and straight to the point title. Do not use more than 5 words. The title is important as it is your reference in all communications with us.
Level of Commitment to the Idea
(I.e. How much time are you willing to put into developing the idea? Kindly indicate other resources (if any) that you are willing to invest to develop the Idea) a) Minimal - 5 - 10 hours a per person a week b) Medium - 15 - 40 hours per person a week c) High - 40 hours per person a week
Idea Description Summary
For this idea description summary box only, please edit or delete your old summary data and write a new one. Do not add on more information. Do not put the **** characters. This information will be circulated in future in our system and you do not want your old summary to appear. Please edit and remove the special characters for the summary to display correctly. Avoid using certain quote marks, punctuations and symbols. Please make sure that you stick to the 50 words limit.
Please include names of referees that can testify to your entrepreneurial capability and good character?
1. Name Relationship to referee Organisation/Company/Educational Institution Designation Tel Email 2. Name Relationship to referee Organisation/Company/Educational Institution Designation Tel Email
What kind of technology will be used? Is it a brand new technology/language? What is your justification for using this technology and why do you think the market is ready for it? Business Experience and Capabilities (In not more than 1500 words. in any case) a) Situational analysis . Also point out what are the 3 potential risk factors that might lead your Idea to fail and what you intend to do to mitigate that failure risk. the market opportunity. Tip: Always refer to pop-up guide given) The Summary should address the following points:. the technology innovation and customers. Name Relationship to referee Organisation/Company/Educational Institution Designation Tel Email Indications of market reputation. e) Technology . areas of responsibilities in employment. Goals (What is your vision. etc. problems-solving capabilities and level of commitment in past endeavors. List each team member experience and contribution in separate paragraphs. if any.) Core Management Team's (CMT) Knowledge Of The Industry (I. Past projects.e.e. (I. mission and direction for the idea.What is the problem statement? How are things currently being done to solve the problems? What is the value proposition? What is the market gap that you are addressing? b) What is your idea? Define your idea. risk-taking nature. and how these experiences and capabilities will help develop your idea. Does your idea resolve the problem? Who does your idea serve (target market/potential customers)? What is unique about your idea that has not been done before? (if so) How will they use your idea to solve the problem and why? c) How big do you think the market is? What is the commercial viability? Can you provide any quantifiable customer base data to justify that there is a sizeable market size and quantifiable demand? What kind of market or feasibility studies will you need to do? Is your Idea or solution cheaper/faster/ better? Why? d) Is anyone else doing anything similar currently? Name 3 competitors that are doing the same or similar thing and suggest why your Idea would prevail over the competitors. should it succeed? Detail out your plans for . previous track record. experience.3. To highlight relevant areas of educational and entrepreneurial achievement. detail and list out the business experience and capabilities of each of your core management team. Detail out your industry knowledge.) Objective is to see the implementation skills of the Core Management Team. Capabilities illustrated should be related to the roles and responsibilities of each member in the implementation of this idea. major achievements (if any) and extra-curricular activities that evidence leadership skills. awards received.(This should only act as a guide and should not be considered to be exhaustive. Please write an executive summary not more than 1500 words of why the idea would work.
that is supportive of your Idea. real need for the products and/or services and a ready market for it. target industry. please indicate with who. marketing strategy. what cost goes out and what kind of profit margins are retained. current customer base (if any) and/or examples of ready customers for the idea) This is to indicate the amount of research that you have done to know the potential customers to your business. b) Incubation/Acceleration Services Incubator/Accelerator Name: ______________________ Details of support services provided.) Stakeholder/Co-Investor Support (Optional) (Please detail the nature of stakeholder/co-investor support (i. List out potential parties that would be relevant to your idea) a) Stakeholder/Co-Investor Stakeholder Name: ______________________ Matching Funds Pledged (In Cash / In Kind) RM ________________ Market and Business Development (if any). For instance. It does not require a professional market research survey.) The combination of factors that describe the business. . Should you require doing a product testing. the benefit relative to the price.e. Show how the revenue comes in. although it would be useful if you could quote some market economic information that you have obtained. etc. where do you expect your main revenues/income to come from? What alternative ways can you generate multiple revenue streams in future? What is your pricing structure? Is your idea better/cheaper/faster and benefit customers more? Does it provide more choices? Can it link up into other related markets? Do you estimate a faster or lower customer acquisition cost than current market players. identity of stakeholder. revenue sources. estimated size of customer market.e. amount of matching funds (if any). where and what will be done or purchased. i. incubation or industry or entrepreneurial mentoring. should it get the required funds that you need to make it a reality over the short. Industry/Entrepreneurial Mentoring. market and business development. market research and feasibility studies with the CIP funding. the perceived value delivered to the customer which determines profitability and the sustaining factors that will allow the company to thrive over the long term. medium and long term.the idea. To show that the business model for your idea is viable. Identifying/recruiting strategic partners (if any). Business Model & Commercial Viability (Please detail out the Business Model for the idea. why the customer would pay for it. including the market the business will serve. what helps to sustain the business model and potential scalability or scope expansion of the business. from this Idea? What is the commercial potential of your idea? Customer & Market (Please detail out the value proposition to the customer.
potential or existing competitors and analysis. current or potential substitutes to the product/services. disposable income of customers. i. etc. future R&D plans and entry barriers if any. and why you think that this is the correct time to launch the idea. current customer practice. What is your product development strategy? What kind of specific technological/platform/development tools will you need to execute what you plan? Will the technology development be done in-house or outsourced? Explain also why the opportunity is available now. Technology Development & Innovation (Please detail out and highlight what technology you will be creating/adapting/innovating/inventing with the funding. i. technology investment focus. although it would be useful if you could quote some supporting economic information that you have obtained. Who are your target customers? Which industry focus does your product serve? What is the process that a customer would go through to use your product/service? What is the user experience and payment transaction procedure? How will the idea be produced. Clearly state what will be developed . competing technology substitutes.e new competing technology. What has been done so far and is your current development stage? What will you be doing within this funding and what will be done or needed in future to complete the product. competing or emerging technologies. and list out all the technical modules/sections/parts for your product/service that will be developed/delivered as well as the relevant technology trends that would affect the viability of the idea. SWOT Analysis.) This is to indicate the amount of research that you have done to know the economic factors that would affect your business.e consumer market trends. Market Access & Timing (Please detail out the estimated market acceptance and access. regionally and internationally. (if any) and foreseeable changes in the industry which would favour or affect the viability of the idea. It does not require a professional market research survey.) This is to indicate the technology and innovation criteria to qualify for the funding. etc that would help in commercializing your idea. economic growth. What is unique about your technology? How are you improving what is already out there? What are you modifying? If you are applying for alternative funding from other providers.Show also your Marketing plans. originality and uniqueness of technology/application. new research findings. spending patterns of the customer base. Product Packaging ideas. marketed.) This is to indicate the amount of research that you have done to know the timing and opportunity factors that would affect your business. distributed & sold? Will core technologies be licensed out? Will your team handle the end to end process yourselves? Tip: Search online for Sample Marketing Plans & Branding Strategies. that is supportive of your Idea. What has been developed already and what will be additionally developed? Who has ownership of the product? What are the barriers to entry for other anticipated competitors entering your idea domain? Indicate which specific industry segments you are targeting? Do already have inroads and business relationships with potential customers to secure them as clients? How will you approach them? What is your strategy in promoting this product so that it can generate consistent growth over the next 3-5 years? Where will the funds to do this marketing come from in future? Economic trends (Please detail out the relevant economic trends that would affect the commercial viability of the idea locally. Branding & Promotion strategies. etc.
Consider how this arrangement will affect your application for CIP.) How will your product/service be developed towards full commercial stage? What investment amounts is needed to be raised? What timelines and stages will you be looking at for your product to be rolled out? Are you planning to do a pilot test for proof of concept? Is there any partner/company in particular you would like to test and get feedback with? Deliverables for Idea Development (Please specify what the deliverables are for the development of the idea (i. product or service description. management . patenting or license purchases. governing bodies and laws that impact the idea. standards. the business plan documentation and the group of individuals behind it. Franchising. an international patent. CIP funds ideas for products/services that have innovative technology components or are viable for Venture Capital. Intellectual Property & Regulation (Please detail out. CIP strictly does not fund companies directly or the cost of formation of companies (it's not needed yet until you are ready for it). what will be developed with the other funding in different paragraphs.e. See the CIP website for other information on what items are allowable and those not funded. as far as you know. trademark or copyright issues related to the components or technologies used or being developed in your idea? Will your product be able to or already have. Technology Innovation with Commercial Value. Tip: Search your idea online first before answering section on competitors. and then set out the milestones (not more than 3) involved. and how will issues like piracy. certifications that can be applied to your idea. which is used internally and as a capital raising tool. privacy.with Cradle and separately. Acquired by or Outright Sale to Bigger Competitors. whether it is still growing or shrinking. Financial Institution Loans. Listing.e. trademarks. VC Investments. incentives. Specify if there's any Intellectual Property advantage or barriers.) Test out your idea against any regulatory or Intellectual Property variables. monopolies. Funds also cannot be used for reimbursement claims on expenses spent before your application and agreement has been approved by CIP. Key Deliverable Items • Business Plan is a document that lays out the key component of the business. licensing. It should include: executive summary. production/operations. trademark and/or copyright that will enable protection of your idea/product from being imitated by local/overseas competitors? Will there be any licensing of components from any third party supplier? Who will ultimately own the IP rights in the CIP deliverables and ultimately. and suitability of timing for exploitation of opportunity. Business Plan) in relation to the size of the funding requested and within a duration of 3 to 6 months. market and competition overview. copyright issues and royalties be addressed if applicable? Are there any conflicting intellectual properties (IP) or patent. We simply fund the development of an idea into prototypes up to proof of concept stage. Investments or have high growth commercialisation potential at a later stage. the product/service to be commercialised? Is there likely to be anything in the general regulatory framework that could positively/negatively impact the idea? Is there a need for safety standards / certification required prior to sale of product? Are there any International laws or standards/trends or local industry regulations that will enhance the adoption of similar products? Stage of the Industry & Future Plans (Please detail out the stage of the Industry. copyright. any rules. Proof of Concept.. estimated acceptance of industry and market to the idea within the next 3-5 years (with reasons to support your belief). together with KPIs) As a general note.) What do you feel is a suitable plan for your financial/operational needs after CIP funding? What is your strategy? (Eg: Self Commercialisation. i. Funds are given via reimbursement of actual expenses that you will have to pay first and claim later. and office setup/operational start up items. regulations. patents. The ownership of the idea and IP will be owned by the main applicant. Sales & Distribution through Local Regional or International channels. How will your idea be protected from duplication. Licensing.
Each tranche should be completed within 4-6 months. Release of second and third tranches is conditional and subject to performance review before approval for future disbursement. Deliverable items should be provided and expanded in detail for each tranche and milestone: Tranche 1 (T1): Mobilisation T1 + Milestones M1. M8 and M9.) a) Define out the purpose of the fund utilization and justifications b) Breakdown . M5 and M6. Training. services and technology hardware needed for the Proof of Concept/Prototype/Business Plan. As a general rule. List down exactly what are the exact final deliverables and its components/modules/parts/sections that will be done in the 8-12 months timeline into Tranche 1.000. Size of Funding and Milestones (Please detail out size of funding required and a simple cash flow breakdown for the utilization of funding. Tranche 3 (T3): Mobilisation T3 + Milestones M7.000. the implementation period for the compulsory Deliverables are as follows:a) Business Plan – 8-12 months (Templates will be given to you. should you succeed in getting that far. financial data/projections. financial structure Prototype is a functional "first-cut' model of the product/application that has been developed Proof of Concept is a functional demonstration of how your idea will work.) Tranche 1 (Time and cost to deliver the first draft of the Idea feasibility plan and/or Proof of Concept. M2 and M3.) Tranche 2 (Time and cost to deliver the second draft of the Idea feasibility plan and/or Proof of Concept. See also the clarification box for “Size of Funding” for more information. please set out the Key Performance Indicators of each milestone.) b) Prototype and/or Proof of Concept – 8-12 months If you know.Monthly basic requirements (salaries). leave it out and it shall be determined later at the Interview Stage. 2 and 3 clearly.000. Please state the main specific product development milestones deliverables as per above over the various tranche stages during CIP and areas to be addressed in the business plan (Actual Business Plan must be in Microsoft Word format). Total RM 50.) Descriptions Mobilisation (Estimated cost to get started. etc. Total RM 50. Duration 4-6 months. 80% should completed by the end of Tranche 2. CIP funds the development of prototypes.000 each.) Tranche 3 (Time and cost to deliver the final draft of the Idea feasibility plan and/or Proof of Concept. Tranche 2 (T2): Mobilisation T2 + Milestones M4. You will need to breakdown your project details as we allow you to apply up to a maximum of three (3) tranches. Otherwise. the testing phase and the compulsory preparation of a detailed business plan. Duration 4-6 months. of up to RM50. Total RM 50. Duration 4-6 months.) (Leave Blank) Amount (Leave Blank) Month Date Month Month . specialized consultants/researchers to help out with market research. within this single application. Drafts have to be submitted at all three milestones for review & feedback.• • team.
000 for each tranche). which is a compulsory allocation. 10% would be RM5. We also have special developer software and hardware offers from our partners to minimise your cost.000 each.000. In Cradle. can be paid in stages over the milestones. Release of second and third tranches is conditional and subject to performance review before approval for future disbursement.Guide a) Define out the purpose of the fund utilization and justifications. Duration 4-6 months.000. M8 and M9. Mentor Fees.000) or have 3 separate mentors for each tranche (RM5000 x 3 Tranches).000 maximum for mobilisation).000 for each stage. (Maximum of RM 5. CIP can also only fund up to 50% cost of general purpose hardware such as PCs and notebooks. Total RM 50. You will need to breakdown your project expenditure into tranche limit of RM50. M5 and M6. only for work done after the agreement date and will be paid out on an "invoice/payment vouchers/receipted claims" submission basis at each milestone. upon request. The rest is given on a reimbursement basis over the 4-6 months over each tranche of the project at the designated milestones which you set.000. Tranche 1 (T1): Mobilisation T1 + Milestones M1. the maximum mobilisation fund is 10% of the “total funds applied” for to cover purchase of mobilisation equipment/hardware/software/raw materials (i. . You have the option to retain 1 mentor (maximum fees RM10. Duration 4-6 months. servers. hosting. If you are applying for RM50. Please note that funding from this grant is on a reimbursement basis.000. Tranche 3 (T3): Mobilisation T3 + Milestones M7. Any additional or spill over upfront cost can therefore be billed in the following milestone. Total RM 50. This is the only money we give at the beginning of each tranche to kick start your project. b) Breakdown – Per Milestone basis requirements for each tranche needed for the Proof of Concept/Prototype/Business Plan for all areas spent. This repeats and applies again to the T2 & T3 tranche of RM50.e. Duration 4-6 months. CIP allows for a minimal allowance for the CMT to cover expenses (Maximum of RM1500 per CMT per month for full time members and maximum overall total of 30% of the total fund amount applied for). Total RM 50. M2 and M3. Tranche 2 (T2): Mobilisation T2 + Milestones M4.000 from each of the RM50.
professional programmers.5% of total funding requested.Indicate how much each person is paid. IP Protection. Proof-of-Concept and Pre-commercialisation (maximum of RM5% total funding. for UCIP 10%) • Market access • Trade show (booth rental) • Professional fees • Relevant training • Below-the-Line (BTL) collaterals • Brochures.000 for same mentor total for all 3 tranches • Rental or lease of incubator or rental of laboratory • Maximum of RM6. refinement and research (approximately 50% of total funding **) a) Prototype development • Raw material and equipment (approximately 30% of total funding) • Up to 100% funding on cost for specific purpose hardware and software • Up to 50% funding on cost for general purpose hardware and software • Web hosting/server hosting – limit to 1 year subscription • Outsourcing fees and expenses include consultants. printing. feasibility study.000) • Mentor fee • RM5. Product development. rapid prototyping. This allowance is not meant to replace salary/employment income and should be a reasonable figure over the maximum period of 4-6 months for each tranche.000 of total funding (or RM500 per month) • Miscellaneous expenses • Maximum of 1. folders. Others (maximum of 35% funding on cost or up to RM50.000 per mentor per tranche (different mentors). travel. . • Product refinement and research (approximately 20% of total funding. • Maximum RM5. for UCIP 15%) • Product testing • Product sampling for customer survey • Certification or endorsement • Business plan. Allowable Areas of Funding: 1. stationary.000 • Legal consultancy fee • Agreement drafting 3. CD ROM replication • Samples for marketing 4.000 or 10% of total funding) • Search fee – maximum of RM10.000. CIP also only covers a maximum of 1.000 • RM10. Total RM15.000 per tranche. Legal and Compliance (maximum of RM15.500 per person per month (max overall total RM45. technical drawings (not more than 25% of total funding). other smaller costs. design engineers. company profile. whichever is lower) • CMT allowances • Part/Full-time basis – maximum of RM1.5% of the total fund applied for miscellaneous expenses such as meetings. Mobilisation (10% per tranche) can be use for items in Section 1a & 1b only. and reference materials 2. • Market research papers • Costs – consultancy and professional services fee.
Martrade. Product development should be a priority. MOSTI. There may be other alternative/matching/future funding providers like. Please note that Cradle strictly does not fund companies or formation cost of companies. Funds also cannot be used for reimbursement claims on expenses spent before your application and agreement has been approved by CIP. While these figures and limits exist. MDeC. 3 & 4 may be re-allocated and utilized towards item 1. . full patenting. MTDC. MECD. MBC. We will still go through in further detail if you get shortlisted for the interview and the figures you provide now can be your near estimate budgets. Good Luck.** Any funds not used under items 2. promotional/marketing related items and its office setup/rental/operational start up items. Funds are given via reimbursement of actual expenses that you will have to pay first and claim later. DAGS or SME Corporation that can assist you with other funding areas and needs of your idea. certain cases which require flexibility and variations will be considered on a case to case basis depending on the justifications provided after interviews only. MARA. Bank Negara website has a useful directory listing section other funding providers as well.
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