Under the collaboration, services offered to start-ups include technology assessment, technology valuation, techno-economic feasibility study, market study and business linkages.
In addition, the start-up community will be offered access to competency enhancement training and consultancy in the field of quality along with testing, inspection and certification for market compliance.
The strategic collaboration was formalised through a Memorandum of Understanding (MoU) virtual signing ceremony held today with SIRIM represented by President and Group Chief Executive, Dato’ Dr Ahmad Sabirin Arshad and Cradle Fund Sdn Bhd (Cradle), by its Group Chief Executive Officer Rafiza Ghazali, and Cradle Seed Ventures Management Pte Ltd by its Acting Chief Executive Officer Dr Ng Sing Kwei. Also present was Ajmain Kasim, Chief Executive Officer of SIRIM Tech Venture Sdn Bhd (STV), a subsidiary of SIRIM which drives business commercialisation of promising innovations from a broad range of technology sector.
The MoU will also accelerate business commercialisation in technology adoption by start-up communities via Cradle Funding Ecosystem, capacity building which includes awareness programmes, coaching and mentoring; and market accessibility through collaborative platform such as STV’s TECH EcosystemTM.
President and Group Chief Executive of SIRIM, Dato’ Dr Ahmad Sabirin Arshad said that SIRIM is honoured that CRADLE, an agency under the Ministry of Science, Technology and Innovation (MOSTI), has decided to work closely with SIRIM in exploring available technology solutions to assist the industry in their next growth phase.
“Through CRADLE’s funding system, SIRIM hopes that many more CRADLE Community will grab the opportunity on new and future technology investment through various financing in order to achieve technology-led growth. SIRIM, an organisation well-known for its technology, and quality assurance programmes will facilitate and co-create appropriate technology solutions required,” he said.
Group Chief Executive Officer of Cradle, Rafiza Ghazali said the strategic partnership with SIRIM will create valuable and much-needed opportunities for local tech entrepreneurs to further enhance their technological development and commercialisation initiatives.
“For local innovators and entrepreneurs, this represents a very important collaboration. The combined resources, know-how and experience of CRADLE and SIRIM will bring tangible benefit to the start-up community through enhanced support and guidance, ultimately helping them to grow their businesses. We are very excited by the potential opportunities this joint initiative offers entrepreneurs, and we look forward to working with some of the most exciting and innovative start-ups in Malaysia through this collaboration.
Rafiza also added, “This important strategic partnership will allow CRADLE and SIRIM to leverage on our respective strengths, and those of our existing initiatives, and offer start-ups a highly effective and beneficial programmes in accelerating their ventures. Though working with the best and brightest innovators and entrepreneurs, we aim for this initiative to become a significant development seen in Malaysia’s start-up community in recent years.”