The government is targeting the commercialisation of 500 RandD products in the local and overseas markets through the Use Local RandD Product Initiative (MySTI) which was launched today.
Science, Technology and Innovation Minister (MOSTI) Chang Lih Kang said the initiative aims to raise standards and generate demand for ‘Malaysian creation’ innovation, especially for the government procurement sector.
He said in addition to MySTI, the 2023 Malaysian Commercialisation Year (MCY 2023) Summit to be held this August will accelerate the development and marketing of RandD products under the 12th Malaysia Plan (RMK12).
“The priority of innovation is very important in the recovery of the country’s economy and we want to generate supply and demand for 'Malaysian creation' goods in the field of Science, Technology and Innovation (STI).
“Goods and services with the MySTI logo will be given access and priority in government procurement to achieve Malaysia's target as a high-tech nation by 2030,” he said when speaking at the launch of the initiative here today.
Chang said strategic partners in the government sector, researchers, product/technology owners, technopreneurs, investors and users are advised to take advantage and succeed in the MySTI initiative which will be carried out on a pilot basis for a period of two years from today.
‘I hope MySTI can ease the pioneering efforts of technopreneurs who have been forced to use the ‘boomerang strategy’ where they market their products abroad first before they are accepted in the local market.
“They should be given the opportunity to create a 'track record' in the country to give confidence to investors and buyers in the international market," he said.
Meanwhile, he said MCY 2023 will be held from Aug 3-4 at Connexion Event Centre in Bangsar South, with preparations including the launch and exhibition of MCY products, the signing of a memorandum of understanding (MoU) as well as a forum and dialogue, among others.
“I invite all parties involved in innovation development to participate in MCY 2023,” he said.
Source: BERNAMA News Agency
