1MET: Mismatch among issues for entreprenuers to prosper in Malaysia

PUTRAJAYA: A huge mismatch between entrepreneurs with technologies that are ready for commercialisation and business matching platforms has been cited as the main bottleneck preventing the sector from flourishing, 1Malaysia Entrepreneur (1MET) chief organiser Nadira Yusoff said.

1MET, an initiative under the National Blue Ocean Strategy ( NBOS) to enable potential entrepreneurs from all segments of society to successfully launch and grow their businesses, is taking various efforts to tacke the issue.

One recent move by the organisationwastopartnerMalaysia Commercialisation Year (MCY) 2016 in providing business matching platforms for entrepreneurs to reap potential business opportunities in the market.

MCY2016servestosupportvarious organisations in commercialising their intellectual property into market-ready products.

“We want to develop a more innovative business model from

We want to develop a more innovative business model from the technologies that are already there. Nadira Yusoff, 1MET Chief Organiser

the technologies that are already there.

“Sometechnologiesareveryliteral and we want them to be positioned in the market differently.

“So, that is why we try to ‘marry’ them,” she told Bernama on the sidelines of the four-day National Blue Ocean Strategy ( NBOS) International Week 2016 held at Putrajaya International Convention Centre here.

The MYC 2016 programme, coorganised by the Ministry of Finance and Ministry of Science, Technology and Innovation (MOSTI) would help research and development products become commercially viable and compete for international markets.

It was reported recently that 10 most innovative products, with the most promising potential for commercialisation, will receive up to RM100,000 each.

She explained that programmes organised under 1MET would also build entrepreneurs with the right mind set to impact others, which then could help foster entrepreneurship that would drive Malaysia towards achieving developed nation status sooner-than-later.

“Entrepreneurs play a vital role in creating a high-income nation.

“What we want to create is entrepreneurs that provide opportunitiestootherentrepreneurs in terms of not just employment, but also other business opportunities,” she added.

Meanwhile, Head of the MCY 2016 Secretariat Dr Mohd Nor Azman Hassan said research agencies involved in the business matching session seeked partners and training on how to build a good business model. — Bernama