By NUR HAZIQAH A MALEK / Pic By AFIF ABD HALIM
Cradle Fund Sdn Bhd has signed a partnership with Asia’s first media digital platform, Supernewsroom, to enhance media presence for about 1,000 startups under its wings.
Cradle group CEO Nazrin Hassan said the tie-up allows startup companies to access Supernewsroom’s data-base with a 70% discount, or just RM500 per month, from the standard fee of RM1,200.
“Around 1,000 companies that are under Cradle in both funding and coaching will receive a 70% discount from Supernewsroom for any of their outreach products,” he said at the memorandum of understanding (MoU) signing ceremony in Kuala Lumpur yesterday.
The partnership is expected to expand market opportunities for startup companies and improve their businesses through media presence elevation and potentially place Malaysia as a startup hub in the region.
“While Cradle and Supernewsroom each has its own strengths and capabilities, combining our complementary skills will enable us to focus on driving the startup ecosystem and assisting aspiring entrepreneurs to gain recognition from the right audience through publicity,” Nazrin said. According to him, there was no fund allocation for the partnership joint venture (JV) and the was a special pact between Cradle and Supernewsroom.
Nazrin also said that startups are dependent on online exposure for presence.
“They think the search engine optimisation and advertising on social media posts are enough, but they don’t realise that they need to think big and increase their audience through the media itself,” he said. Cradle is a startup influencer, incorporated under the Ministry of Finance in 2003 to fund potential tech startups through its Cradle Investment Programme (CIP).
The company has funded over 700 technology startups and its services also include commercialisation support, coaching and other services.
It offers both funding and investment assistance through CIP300 which provides conditional grant and assistance up to RM300,000 and Direct Equity 800 which funds local early-stage startups through equity funding and assistance up to RM800,000.
Meanwhile, Supernewsroom CEO and founder Manminder Kaur Dhillon said the platform aims to reach out to the whole of Asia within the next three years.
“We aim to go global, but for now, we take little steps to focus on Asean before Asia in the next three years,” she said.
As of now, Supernewsroom’s data-base covers Singapore, Vietnam, Thailand, Malaysia, the Philippines and Indonesia.
Supernewsroom is an integrated digital public relations services provider that was launched and powered by Intelectasia Consultancy in 2015. It allows startups to launch and manage their public relations campaign through a do-it-yourself approach where they can choose to send their invites and press releases to their desired and relevant news desk.