RM23.8M AL­LO­CATED FOR INNOFUND SCHEME

The Sun (Malaysia) - - NEWS WITHOUT BORDERS -

A TO­TAL of RM23.8 mil­lion has been al­lo­cated by the Min­istry of Sci­ence, Tech­nol­ogy and In­no­va­tion (Mosti) through the in­no­va­tion grant (InnoFund) scheme since the 10th Malaysia Plan. In a writ­ten re­ply, Mosti said the grant, which was of­fered un­der the min­istry’s PreCom­mer­cial­i­sa­tion Fund, was aimed at pro­mot­ing the pro­lif­er­a­tion of in­no­va­tion through the de­vel­op­ment and im­prove­ment of new or ex­ist­ing prod­ucts which could pro­vide eco­nomic value and im­prove the well-be­ing of the com­mu­nity. On a pro­posal to in­crease the max­i­mum amount of the grant from the cur­rent RM500,000 for each project, Mosti said it had no plans to do so. – Ber­nama

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