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“All our good talent is moving to Singapore” is one of the biggest complaints attributed to the slow progress of Malaysia’s technological ecosystem when it comes to countries around the SEA. Malaysia is capable of creating a lot of good talent, but us do not store very well.
In addition, Malaysia’s innovation capabilities are also limited, with 80% of local researchers preferring to find more stable jobs in higher education institutions. Of these, only 16% remain in the private sector and 4% in the non-profit sector.
This was according to the CEO Technology Park Malaysia (TPM), Dzuleira Abu Bakar. He compares these statistics with highly innovative countries, such as South Korea, where the numbers are reversed with 82% of researchers working in the private sector.
Furthermore, Dzuleira believes that the main problem stifling innovation in Malaysia is the poor management of these ideas and low marketing rates.
“Currently, our marketing rate is relatively low in terms of competitiveness, averaging 15-20% in the last two years,” Dzuleira told Vulcan Post. “And despite the commercialization activities of corporations and various organizations, it needs to be centralized, or even aggregated, for a multiplier effect.”
Thus, through the Ministry of Science, Technology and Innovation (MOSTI), a new agency is being set up to deal with all this in one place. It is known as The Malaysian Technology and Innovation Research Accelerator (MRANTI).
One-stop shop for technological development and marketing
As a quick upgrade, TPM and Malaysia Global Center for Innovation and Creativity (MaGIC) were recently merged. This was followed by MOSTI’s intention to restructure its agency through a consolidation to create a new functional technology and marketing agency.
Everything is in MOSTI’s plan to turn Malaysia into an innovation-driven economy.
Therefore, MRANTI will be formed through the consolidation of TPM and MaGIC. Its shareholders imagine that MRANTI Malaysia is the only one-stop shop for innovators and technology entrepreneurs to find all the resources, funding, advice and marketing facilities in Malaysia.
RM30 million has been allocated to support its efforts
A month ago 2022 budget It has allocated RM423 million to both MOSTI and the Ministry of Higher Education to accelerate R&D activities. From the pool, TPM (soon to be MRANTI) has allocated RM30 million to support the innovation ecosystem, such as drones, robotics and autonomous vehicles (AV).
“By 2022 we aim to influence 5,000 techno-entrepreneurs and develop 15 intellectual properties (IPs) through infrastructure and facilities, coaching and mentoring, market access and knowledge exchange,” Dzuleira said.
MRANTI also plans to have an Artificial Intelligence (AI) Park in Malaysia. Within it, various facilities will be set up to support its development. 5G Development Center, Sustainable Urban Agriculture Incubation Facility, Biotechnology Incubation Center, along with AV and Robotics Hub.
These facilities were chosen because they are interconnected. For example, autonomous vehicle testing, incubation and development go hand in hand with the development of 5G technology.
AI Park will act as an adjunct Field 57, A 5-hectare TPM R&D center to advance the development of local drone industries.
If its plan works properly, the country will be able to grow in science, technology, innovation and economics (STIE) and meet the targets set out in Plan 12 of the Malaysia Plan (RMK12).
The main objectives of RMK12 are:
- 2.5% of gross R&D expenditure (GERD) relative to GDP;
- Private Sector (EBRD) 70% of R&D expenditure to GERD;
- For the Top 20 Global Innovation Index rankings;
- 500 products or solutions marketed through the National Innovation and Technology Sandbox (NTIS) and the Malaysia Commercialization Year (MCY).
When will this happen?
MRANTI will start its activities in January 2022 for startups with the resources to support technology development, market access, prototyping and testing, financing, facilitation, etc.
“With MRANTI, we don’t want the discovery to be just a discovery. We are coming out of the labs and unlocking more socio-economic values in real life, ”Dzuleira said.
Ultimately, it’s about scaling up entrepreneurial ideas and innovations in an efficient, fast, and effective way.
Malaysia is too late to become a high-tech, high-income nation against international nations, let alone SEA countries.
Through its broad vision and cooperation goals, can MRANTI do more than help capture the nation? We and our Malaysian friends will see you breathing.
Featured Image Credit: MRANTI
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