MoU signed for collaboration in tech commercialisation services

  • Corporate News
  • Monday, 10 Aug 2020

Minister of Science, Technology, and Innovation Khairy Jamaluddin (middle) having a group photo with Chief Executive Officer of Malaysian Technology Development Corporation (MTDC) Datuk Norhalim Yunus (left) and Chief Executive Officer Petronas Technology Ventures Sdn Bhd (PTVSB) Dr. Mahpuzah Abai (right) after witnesses a Memorandum of Understanding Signing Ceremony between Malaysian Technology Development Corporation (MTDC) and Petronas Technology Ventures Sdn Bhd (PTVSB) at PETRONAS Research Sdn Bhd today. Also present, Chairman of MTDC Tan Sri Abdul Rahman Mamat (second, left) and Senior Vice Presiden of Project Delivery & Technology at PETRONAS Chemicals Group Berhad Samsudin Miskon (second, right). -- Bernama

KUALA LUMPUR: Malaysian Technology Development Corp (MTDC) has signed a memorandum of understanding (MoU) with Petronas Technology Ventures Sdn Bhd (PTVSB) to leverage each other’s capabilities and strength in building an effective ecosystem for the commercialisation of homegrown technologies.

MTDC chief executive officer Datuk Norhalim Yunus said the MoU would provide opportunities not only for both parties to work together to commercialise technologies developed by Petronas, but also to help local companies.

“Through this collaboration, we will be able to help local entrepreneurs to work together in the Petronas and MTDC ecosystem in developing technologies that can be used by Petronas or commercialising Petronas technologies to be used outside of the Petronas ecosystem.

“Not only will this collaboration benefit Petronas and MTDC, it is also seen as a platform to enable local entrepreneurs to penetrate the local market and subsequently overseas, ” he said after the MoU signing ceremony.

The MoU was signed by Norhalim on behalf of MTDC and PTVSB was represented by its CEO Dr Mahpuzah Abai. The vent was witnessed by Science, Technology and Innovation Minister Khairy Jamaluddin.

Also present were MTDC chairman Tan Sri Abd Rahman Mamat, Petronas Corporate Strategy senior vice-president Mazuin Ismail and Petronas Project Delivery and Technology senior vice-president Samsudin Miskon.

Norhalim said the collaboration would focus on technologies that are needed not only within Petronas’ ecosystem but also that could be used by other industries such as in agriculture.

“By working with one of the major technology companies in the world (Petronas), we will see that this collaboration will focus on Industrial Revolution 4.0 (IR 4.0)-relevant technologies

‘We want to use this platform to invite local entrepreneurs with technologies which may be relevant to Petronas’ ecosystem such as green technology, Big Data, robotics including drones, and others which could help companies in Petronas’ ecosystem, ” he said.

Meanwhile, Khairy said the MoU also includes co-funding the National Technology Innovation Sandbox (NTIS) Programme through matching corporate funding.

“With NTIS, researchers, innovators, startups and high-tech entrepreneurs will be able to test and asses their goods and services, business models and delivery mechanism in a live environment.

“Through matching allocations of up to RM5mil (from each party), both parties are expected to fund research and development or local innovations, especially those from Petronas, from the ideation to commercialisation stage, ” he said. — Bernama

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