More innovative local products to be commercialised
KUALA LUMPUR: About RM155 million worth of innovative home-grown products have been commercialised this year, with more in the pipeline.
A total of 123 new products are now commercially available, thanks to the Malaysia Commercialisation Year (MCY) 2016, an initiative spearheaded by the Ministry of Science, Technology and Innovation (MOSTI).
Minister Datuk Seri Madius Tangau said the products were the result of academic studies and innovations by Malaysian academics, researchers and entrepreneurs.
“Science should not be used just for knowledge, it should also be used to create jobs, wealth and well-being for the community.
“The success of MCY 2016 was largely dependent on the close cooperation between academia, industry players, and the government,” he said after the opening of MCY 2016 at the Kuala Lumpur Convention Centre on Dec 8.
Referring to the cooperation as a triple helix of academia, government and industry, Madius said MOSTI was committed to encouraging more cooperation to allow for science, technology and innovation to be utilised in all domains, especially the economic sector.
“We cannot afford to be left out of the Fourth Industrial Revolution. We need to raise our game to be competitive,” he added.
He cited cybersecurity as an area in which academic training and research could be commercialised.
“Between now and 2020, we plan to churn out 10,000 cybersecurity experts in this country,” he said.
“The demand comes not only from within Malaysia but globally.”
Madius said the close cooperation between the government, academia and industry would stop many innovations from falling into the “valley of death”, where innovations stay at the academic level without being maximise through commercialisation.
“We are encouraging communication so that more innovations can be known to the public and entrepreneurs.
“We will work with other ministries to get intellectual properties in this country to be made known to entrepreneurs for commercialisation possibilities,” he added.