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Prime Minister Datuk Seri Ismail Sabri Yaakob speaks throughout the opening of the Malaysia Innovates Convention 2022 in Kuala Lumpur August 2, 2022. ― Bernama pic
Tuesday, 02 Aug 2022 1:34 PM MYT
KUALA LUMPUR, Aug 2 ― The federal government has accredited 99 analysis, improvement, commercialisation and innovation (R&D and C&I) initiatives and programmes value RM5.6 billion to help the event of innovation sector in Malaysia for 2021 and 2022 below the twelfth Malaysia Plan (12MP).
Prime Minister Datuk Seri Ismail Sabri Yaakob mentioned the federal government would additionally intensify commercialisation and innovation efforts to create extra industry-based merchandise and options with excessive added worth.
“For this objective, all R&D and C&I actions might be aligned with nationwide improvement priorities.
“Digitalisation, adoption of know-how and innovation are necessary to realize sustainable financial development,” he mentioned when opening the Malaysia Innovates Convention 2022 right here immediately.
He mentioned the commercialisation points would even be given emphasis by guaranteeing that at the very least 50 per cent of the full R&D expenditure is for experimental improvement analysis.
The prime minister mentioned three entities have been established to develop the innovation ecosystem, with the primary being the Analysis Administration Unit below the Financial Planning Unit of the Prime Minister’s Division to coordinate and organise the nationwide analysis technique.
The second entity is the Malaysian Analysis Accelerator for Expertise and Innovation below the Expertise Commercialisation Accelerator programme aimed toward boosting commercialisation actions between academia and {industry}, he mentioned.
Ismail Sabri mentioned the third entity was the Malaysian Science Endowment below the purview of the Ministry of Science, Expertise and Innovation (Mosti) and the Malaysian Academy of Sciences which can create various funding for R&D and C&I by way of collaboration between {industry} and worldwide our bodies.
“The three entities must work collectively to make sure that the outcomes of R&D and C&I, in addition to mental properties, turn out to be excessive value-added merchandise, and put Malaysia at par with superior innovation-based nations resembling South Korea, Switzerland and Singapore,” he mentioned.
He defined that Malaysia’s R&D and C&I panorama was completely different from developed nations as a result of virtually 80 per cent of researchers on this nation in 2018 have been in larger training establishments whereas 97.4 per cent of entrepreneurs got here from Micro, Small and Medium Enterprises (MSME).
Ismail Sabri mentioned out of roughly 5,435 startup firms established from 2010 to 2020, solely 5 per cent have been technology-based.
“For the short- and medium-term method, a collaboration between researchers and entrepreneurs must be applied to extend native innovation.
“That is in step with the Malaysian Begin-up Ecosystem Roadmap 2021-2030 or SUPER which targets 5,000 start-up firms and 5 unicorn-class firms value over US$1 billion by 2025,” he mentioned.
He mentioned that to this point Malaysia solely has one firm of unicorn standing which is CARSOME Sdn Bhd.
Subsequently, extra incentives must be offered to create extra technology-based startup firms, together with an open innovation ecosystem technique to spice up nationwide innovation by way of the mobilisation of concepts from all events concerned, he mentioned.
Ismail Sabri mentioned that Mosti and the Malaysian Academy of Sciences have been growing the Malaysian Open Science Platform to accentuate information sharing between researchers and {industry}, whereas the nation’s precedence areas of science, know-how and innovation have been additionally being coordinated below the twelfth MP.
The 2-day convention was a joint effort by EPU, Prime Minister’s Division and the United Nations Growth Programme (UNDP). ― Bernama
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