Friday, April 20, 2012

Made-in Malaysia Innovations: A RM1 Billion Revenue Potential

This entry is an extract from the Star Online dated Friday April 20, 2012:

"Malaysian businesses can start bidding from today for locally developed innovations that have the potential to yield up to RM1bil in revenue. Datuk Seri Najib Tun Razak unveiled the 42 commercially ready products that have been developed under the Innovation Business Opportunities programme. They range from a disease-resistant chili to larvacide to control mosquito-borne diseases, from a biosensor to diagnose specific infections to lumber made from oil palm, from a rice cooker that automatically drains excess starch to a body armour made of coconut fibre, kevlar and glass; and from a high quality cross-bred rice suitable for diabetics to a pendant system that mounts all or most medical equipment used to treat patients.
. The products were developed by a collection of local companies, universities and research institutes and selected by Agensi Innovasi Malaysia based on the potential for commercialisation. The Prime Minister said the products could collectively bring in an estimated RM1bil by the third year of marketing. “This is just the starting point,” he said when launching the programme in his office here yesterday.
“The programme offers local companies the chance to harness the power of innovation to gain an edge in their business while helping to monetise the many projects developed locally. This is in line with the Government's efforts to reinforce innovation." While the programme was aimed to promote the culture of competitive bidding in the private sector, Najib said the Government could consider providing support in terms of loans and certain incentives

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