TAKING COMMERCIALISATION FURTHER
DESIGNING technologies for a sustainable future will be the central theme in this year’s Malaysia Commercialisation Year (MCY) at Global Entrepreneurship Community Summit 2017 (GECommunity) Summit 2017.
Being a government effort to advance commercialisation in research and development output, MCY is a collaborative programme between the Science, Technology and Innovation Ministry (Mosti) and the Finance Ministry.
This initiative is implemented under the National Blue Ocean Strategy (NBOS) approach, to propel the nation’s Science, Technology and Innovation (STI) agenda as a driving force towards National Transformation 2050 (TN50).
This year’s MCY at GECommunity Summit 2017 at Kuala Lumpur Convention Centre today and tomorrow will create greater impact in the development of niche markets, increasing global recognition of local products and gaining better market penetration nationally, regionally and globally.
Themed “Designing the Future”, the summit will feature 20 keynotes and panel discussions, participation from 100 global entrepreneurship community labs across 15 themes mentorship from notable entrepreneurs, six entrepreneurship masterclasses and 330 exhibition booths.
During the MCY Summit 2016, Prime Minister Datuk Seri Najib Tun Razak announced the Second Wave of MCY 2.0 (2017 – 2019) with enhanced objectives.
These objectives include strengthening the ecosystem for commercialisation, expanding on collaborations with strategic partners from the industry, states and international governments, expanding markets for local research and development products as well as services to regional and international markets.
These objectives are ultimately aligned placing a stronger focus on STI in order to propel Malaysia towards becoming a high income, sustainable, inclusive and scientifically advanced nation.
Science, Technology and Innovation Minister Datuk Seri Panglima Wilfred Madius Tangau said the ministry will continue to play a significant role in further strengthening the commercialisation ecosystem in Malaysia.
“MCY is the pioneer programme made into a platform for joint usage by various government agencies and industries to work together in commercialising products of research and development results.
“This commercialisation ecosystem comprises policies, research and development, investment options and commercialisation interventions.
“This can be achieved through a synergistic approach of the MCY programme which combines six elements, namely 1Promotional Campaign, 1Stop Centre, Capacity Building Programmes, Industry Engagement, Shared Key Performance Indicators or KPIs and Information Services,” Tangau said.
To date, MCY has conducted 20 programmes involving participation from various players in STI, industry and venture capital.
Between MCY 2017 and MCY 2019, a total of 150 products and technologies have been targeted for commercialisation.
By 2020, the ministry targets 360 products and technologies to be commercialised
Launching the summit, Tangau urged youths to tap into their innovative entrepreneurial skills in order to capitalise on the growing technology-based market.
“I am pleased to announce the inclusion of MCY Young Innovator Award in 2018, to recognise their significant contributions to the nation’s economic growth towards 2050.
“To further support these initiatives, the Government has decided to expand the scope of Research and Development Fund in Mosti to include a special grant allocation within the approved budget, for enhancement of MCY Special KPI products and technologies,” he said.
Based on the MCY Special KPI, the first product is the
TM
AnanoCoat , an anti-microbial solution, which prevents microorganisms from functioning or reproducing as a measure to control infections.
The second technological product identified is the E-Purse Management System which enables a cashless environment by removing the laborious task of cash handling, eliminating leakages and improving accountability with automated reports and audit trails.
One of the major highlights of the summit will be the MCY Awards to recognise agencies involved in the commercialisation of products.
The Awards was open to 44 agencies who contributed to the MCY Special KPI for participation and serves as a token of appreciation for their efforts in six categories namely Social Entrepreneur Award, Emerging Innovator Award, Researcher Entrepreneur Award, Research and Business Partnership Award, Commercial Deal Award and the prestigious MCY Supreme Award for the overall winner.
MCY @ GECommunity Summit 2017 takes place today and tomorrow at Kuala Lumpur Convention Centre from 10am to 10pm. Admission is open to the public.