GOVT LAUNCHES COMMERCIALISATION FUND TO ACCELERATE MARKET ADOPTION OF LOCAL TECHNOLOGIES

PUTRAJAYA, Feb 13 (Bernama) -- The government today announced the launch of a Commercialisation Fund under the 13th Malaysia Plan (13MP) to help locally developed technologies reach wider market adoption and commercial success.

Science, Technology and Innovation Minister Datuk Chang Lih Kang said the fund will provide up to RM1 million in financing for each approved project, with implementation supported by the integrated innovation ecosystem of the Malaysian Research Accelerator for Technology and Innovation (MRANTI).

He said the fund is specifically targeted at local technologies that have been validated and are ready to bridge the final gap towards market readiness, adoption and real-world implementation.

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Chang said the initiative reflects Malaysia’s strategic shift from merely developing technology to ensuring that homegrown innovations are successfully deployed, scaled and able to generate returns for the country.

“We want to see more Malaysian technology companies progress from the development stage to global scaling. The Commercialisation Fund was created to strengthen the support ecosystem so that high-potential innovations can move to market more quickly, contributing to economic growth and the creation of high-value jobs,” he said in a statement today.

Applications for the fund will open on March 1, with further details on implementation, support mechanisms and eligibility criteria to be announced via the official channels of the Ministry of Science, Technology and Innovation (MOSTI) and MRANTI.

Chang said the fund will prioritise technologies that have achieved at least Technology Readiness Level (TRL) 7 and Customer Readiness Level (CRL) 3, supported by evidence of market validation such as pilot projects or confirmed customer interest.

“The programme will also provide support through project development assistance, a Structured Commercialisation Accelerator (SCA), and innovation services to ensure that technologies are not only technically robust but also commercially and regulatory ready,” he added.

He said the fund will be implemented by MRANTI as the lead partner, working in collaboration with government agencies, industry players and strategic partners to accelerate the commercialisation of local technologies across key socio-economic sectors identified under the Malaysia Science, Technology, Innovation and Economy (MySTIE) 10-10 Framework.

These include frontier technologies such as artificial intelligence, robotics, biotechnology, nanotechnology and the Internet of Things (IoT), he added.

Chang said the initiative is aligned with the National Science, Technology and Innovation Policy (DSTIN) and the National Research, Development, Innovation, Commercialisation and Economy (RDICE) Roadmap, both of which adopt a mission-driven approach to addressing national priorities such as food security, healthcare, clean energy and digital transformation.

-- BERNAMA