PUTRAJAYA, 18 MAC 2016 – The Ministry of Finance (MOF) and Ministry of Science, Technology and Innovation (MOSTI) will be co-organizing the Malaysia Commercialization Year 2016 initiative. This initiative will be conducted as part of the government’s National Blue Ocean Strategy. The synergistic approach includes enhancement of entrepreneurship capacities and capabilities, sharing of information and shared KPI.

The shared KPI involves commitment from each agency that is involved in R&D and technology development. The agencies are required to set Special KPIs for the Malaysia Commercialization Year. The Special KPI presentation session today constitutes proposals from 26 institutions, namely (i) 13 agencies / research institutes; (ii) 5 Research Universities; and (iii) 8 technology development agencies. Up to 150 products and technologies across various categories will be commercialized in 2016 through a synergistic approach across agencies including investment, promotion and capacity building agencies.

The endorsed Special KPIs will continue to be monitored for a period of two years. These agencies will present their progress report in June 2016. To provide recognition and incentives to the best products / technologies, the highlight of Malaysia Commercialization Year will be held in November 2016 covering activities such as Product Awards, International Conference and Exhibition as well as Product Launches.

The Malaysia Commercialization Year initiative is hoped to boost innovation and commercialization activities in all sectors and at all walks of life in Malaysia. Its implementation needs commitment, cooperation and support from all parties in the national STI landscape. Thus, the synergy will create a network of cooperation expected to improve the outcome and impact of the initiative.

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