150 technology, innovation NBOS products ready to penetrate market – Madius

PUTRAJAYA: Some 150 technology and innovation related products produced through the National Blue Ocean Strategy ( NBOS) strategy are ready to be commercialised for the local and international markets this year.

Science, Technology and Innovation Minister Datuk Seri Wilfred Madius Tangau said the products were among those produced by 25 organisations, agencies and research institutions under the nine ministries that managed research and development ( R& D) in conjunction with the Malaysia Commercialisation Year 2016 ( MCY’16).

“Each agency involved is given the Key Performance Index ( KPI) to produce as least five products to be commercialised throughout the year.

“Among the interesting products produced are the Quantrum Brake Pad, an environmentally brake pad product invented by SIRIM and ‘ MyPhone,’ a telephone charge card placed in schools so children need not bring telephones. Currently 800 schools have placed orders for this product,” he said.

He was speaking to reporters after visiting the Business Matching Programme and Business Model Bootcamp MCY2016 under the 1Malaysia Entrepreneur (1MET) programme, an initiative of the National Entrepreneurial Development Office under the Ministry of Finance ( MOF), here yesterday.

The programme is being held in conjunction with NBOS Open Day, which is one of the six events organised during the ongoing NBOS International Week 2016, which will conclude on August 20.

MCY 2016, a joint initiative undertaken by MOSTI and MOF being implemented through the NBOS approach, aims to foster an entrepreneurial culture, raise awareness on the commericalisation of R& D and its impact on national development.

With the commercialisation of these local R& D products, high quality innovative products can be produced which can penetrate foreign markets and create Malaysian brands.

Meanwhile MOF National Strategy Unit director Dr Aminuddin Hassim said every agency involved had given their full commitment to generate products for commercialisation.

He said prizes, totaling RM1 million, await the successful agencies that met their KPIs for the production of the best technology and innovation products that would be announced at an international conference in the Kuala Lumpur Convention Centre on Nov 2. — Bernama