Innovation wealth
BUSINESS OPPORTUNITIES: PM says R & D efforts can drive nation to compete globally
KUALA LUMPUR: MALAYSIA will bolster efforts to create wealth through innovation and make the country more competitive globally, said Prime Minister Datuk Seri Najib Razak.
He said innovation was part of the areas of focus under the 2013 Budget to drive Malaysia forward.
In line with the National Innovation Strategy launched in September last year, the government will help local intellectual property owners to commercialise their research and development findings.
Some local universities and public research and development organisations are working on innovative products for possible commercialisation.
They include palm oil pellets, coconut body armour, pink guava fibre as health supplements and super larvacide for mosquito control.
Najib said: “We are certainly not thinking conventionally, for it has been said that once we rid ourselves of conventional thinking, we can get on with creating the future.
“This is exactly what we are doing with wealth creation, which requires innovative measures,” he said when announcing the phase one results and launch of phase two of the Innovation Business Opportunities (IBOs) at Parliament yesterday.
A road map to establish Malaysia as the Food Valley for Southeast Asia and the National Synthetic Rubber Strategy are among innovative efforts unveiled by the government.
Najib said the road map could generate RM30 billion and 25,000 jobs, while the synthetic rubber plan was to ensure that Malaysia's market share increased from 60 per cent over the coming years and increased gross national income by RM18 billion by 2020.
Launched in April and facilitated by Agensi Inovasi Malaysia, IBO offers intellectual properties owned by universities and public research and development organisations here to be taken up and commercialised by the private sector.
Najib said of the 42 initial IBOs offered via transparent competitive bidding, 33 had the potential to generate revenue totalling RM1.58 billion over three years.
Fifteen had been taken up by industry partners for commercialisation, while 18 others were in different stages of negotiations.
"It must be kept in mind that the above revenues totalling RM1.58 billion over the three years are new wealth opportunities uncovered by the government.
"This is what a responsible government does: produce visible and tangible results for the people through business communities, not just mere rhetoric or empty promises. Real results come from real work, not imaginary plans."
Under phase two, 50 new technologies and products, which are open for transparent and competitive bidding, have the potential of generating RM560 million after three years of operations.
"I invite businesses and individuals to bid for these opportunities, which can result in enormous wealth creation for the nation.
"This is your opportunity to strike it big. Participate and the government will help you along the way."
Source : New Straits Times
Date : 17 October 2012
Afternoon Highlight (18/10/12/180/655)
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