Friday, July 10

Mosti offers rm1 mln incentive for best 10 innovative products

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PUTRAJAYA: The Ministry of Science, Technology and Innovation Ministry (MOSTI), in conjunction with Malaysia Commercialisation Year 2016, will offer RM100,000 each to the best ten new innovative products with commercialisation potentials.

MOSTI’s Secretary-General, Datuk Seri Dr Noorul Ainur Mohd Nur, said they would be selected from at least 130 products developed by 26 organisations — 13 research agencies, five research universities and eight technology development agencies.

“This programme is to ensure our research and development products are able to compete and penetrate international markets,” he told reporters after a media briefing on Malaysia Commercialisation Year 2016’s Key Performance Index (KPI) yesterday.

The Malaysia Commercialisation Year 2016 is jointly-organised by MOSTI and the Finance Ministry.

He said under the programme, MOSTI had set a new KPI for the 26 organisastions, where they must each produced a minimum of five new innovative products.

“This is only for two years until 2017 as we want to see their response first,” he said.

On the incentive, Noorul Ainur said, the selected products would be acknowledged at the Malaysia Commercialisation Year 2016 Fair, scheduled to be held from Nov 1-3 this year at Kuala Lumpur Convention Centre.

Meanwhile, Finance Ministry’s Secretary-General, Tan Sri Dr Mohd Irwan Serigar Abdullah, said the selection of the products would be based on innovation and creativity, featuring local ingredients.

“We did not specify the types of products they must produce as each organisation has its own niche.

“Biotech Corp, for example, has been known to produce bio-based products,” he said.

Mohd Irwan Serigar also said the RM100,000 incentive was for products commercialisation purpose.

“We will monitor them to ensure the incentive is being used for that purpose only,” he added. — Bernama