On Aug 4, following his speech at the IBM Forum 2005 in Kuala Lumpur, Minister of Science, Technology and Innovations Datuk Jamaludin Jarjis urged Malaysian companies to innovate for future growth. He said the private sector could apply for funds to acquire intellectual property (IP) and technologies.

The funds currently come from the RM1.5 billion allocated to the ministry under the Eighth Malaysia Plan but Jamaludin said he is asking for more under the Ninth Malaysia Plan.

“We are not very happy with the percentage of commercialisation in the public sector and we want a balance. Some research can still be public sector-led but we also want research to be private sector-led. They put in a dollar, we put in a dollar and then we go and buy the IP. We want R&D to be private sector-led and we are looking for technology asset tools to create economic value. That has to be the end-game. It must create economic value, it must create jobs and it has to be technologies that can develop the economy,” he said.

This move by Mosti is a significant one in elevating the level and quality of innovation in Malaysia. If local entrepreneurs and scientists are to grow, they have to be recognised as two separate groups, where funding and resources are allocated based on the needs of each group.

As the minister aptly pointed out, if Malaysians are to accelerate their growth and innovation capability, the acquisition of IP would provide significant value by acting as a springboard to commercial endeavours. The Japanese government used this model with much success.

Posted by: Renuka Sena on 29/8/2005 5:53:46 PM