Furthermore, a range of funding mechanisms have been developed to provide medium- and longterm capital financing, such as the “Cradle Investment Programme” (CIP) and the “Start Your Own Business” by the Multimedia Development Corporation. The Malaysian Venture Capital and Private Equity Association targets high technology and knowledge-based enterprises of all sizes. Penang has a rich support framework for new firm creation and increasing investments are being made to support the creation of new business formation in knowledge-based fields.