Start up companies to commercialise research findings, says Minister
PUTRAJAYA, Nov 3 (Bernama) -- Forming start up companies can help universities bring about commercial value to fundamental research findings independently, said Higher Education Minister Datuk Seri Mohamed Khaled Nordin.
Speaking after declaring open the ministerial level Innovation Day here today he said the start up companies to be formed under the University Incubator programme will be operated by the respective universities' scientists, researchers and students.
"One of the effort we need to see in an innovation based economy now is not just for a university to conduct new research but to be able to produce its own technology as well," he noted.
Mohamed Khaled explained that prior to this, university research findings were developed by the Malaysian Technology Development Corporation.
He announced University Malaya and University Sains Malaysia as the pioneers of the programme with an allocation of RM22 million and RM51 million respectively.
Meanwhile, the ministry has identified two approaches as an impetus for innovation, namely, that the institutions should take into account its contribution to the environment and community, and collaboration with government agencies.
"This means the ministry's innovative programmes can no longer operate individually or in a silo, but collaborate with government agencies or ministries for bigger impact and success," he said.
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