-AFP filepic
PETALING JAYA: The government is stepping up efforts to support the purchase and commercialisation of locally made products to ensure that home-grown research and innovations do not stop at the laboratory stage but successfully reach the market. says Datuk Seri Anwar Ibrahim.
The Prime Minister said despite public universities having established nearly 450 spin-off companies, the current commercialisation rate remains low at around 5%.
"To address this, several key measures have been introduced including allowing public university lectures, who are founders of spin-off companies, to take one-year research or sabbatical leave specifically to focus on commercialising their research and design (R&D) outcomes.
"The government has approved an initial RM10mil allocation through the establishment of the National Spin-off Company Fund.
"This initiative is expected to enable 50 lecturers to fully concentrate on developing their spin-offs and attract at least RM30mil in private investment, with a projected economic multiplier effect of three times," he said in his Budget 2026 speech on Friday (Oct 10).
Local universities have already produced promising innovations, he said.
"Universiti Sains Malaysia has developed a portable kidney dialysis machine and a treatment for tongue cancer, while Universiti Malaya offers fertility treatment and biological therapy for knee osteoarthritis.
"A total of RM12mil will be channelled to selected university teaching hospitals to apply these innovations in targeted patient rehabilitation programmes," he added.
Anwar said to further boost visibility and market acceptance, more than 550 products and services have been approved under the MySTI logo.
"The government will prioritise MySTI-certified products in government procurement and provide opportunities for commercial testing.
"In addition, the government plans to grant a 100% Green Investment Tax Allowance to companies who use green-technology products in local manufacturing networks recognised by MyHijau Mark," he said.
