Business

Published: Tuesday November 17, 2009 MYT 2:43:00 PM

PM: National innovation centre to be launched early 2010


KUALA LUMPUR: The National Innovation Centre,also known as the MyNIC, will be launched by the end of the first quarter next year, said Prime Minister Datuk Seri Najib Tun Razak.

He said that the Ministry of Science, Technology and Innovation (MOSTI) is currently undertaking a comprehensive study on the implementation of the MyNIC and this will be presented to the Cabinet soon.

"The focus of the MyNIC is innovation across the board, not only in biotechnology but also in the information, communication and technology (ICT) industry, animation as well as agriculture and other industries," he said at a press conference after the official launch of the BioMalaysia Conference and Exhibition 2009 here on Tuesday.

Najib said that emphasis should also be given to intellectual capital and content.

"This, I am sure, will continue to enhance an ecosystem that will be conducive for the development of this thriving industry," he highlighted.

The proposed setting up of the MyNIC was mooted during the 4th meeting of the National Innovation Council recently.

Najib said that Malaysia had the means to be a regional biotechnology hub based on the positive growth of the industry.

He explained that there was a lot of research and development being undertaken by the private sector and universities with the potential to be commercialised.

"This involves a field which is connected to the lives of farmers including the area of seaweed cultivation,fishermen,products which can kill the aedes mosquito, healthcare and comestics.

"So,there is no reason why we cannot develop this industry until malaysia becomes a regional hub for it," he said.

Earlier in his speech, Najib said the government continued to provide support within the funding value chain from research and development to cmmercialisation.

He said the government has also provided a mechanism to mitigate risk related to investments via agencies such as the Malaysian Technology Development Corporation and Malaysia Debt Ventures.

"Further fine tuning within the public funding mechanism towards addressing the needs of the industry will also be addressed and implemented under the 10th Malaysia Plan," he explained.

In addition, Najib said that MOSTI and related ministries together with the Malaysian Biotech Corporation would also intensify efforts towards completing initiatives under the capacity building phase of the National Biotechnology Policy.

He added that the Lab to Market Second Phase initiatives would be rolled out concurrently and fine tuned under the 10th Malaysia Plan. - Bernama

  • E-mail this story
  • Print this story