KUALA LUMPUR: There are many good ideas sitting in science labs across the country that are not getting out into the market.
The remedy comes in the form of a new company, Plug & Play Technology Management Sdn Bhd, which has since April 29 started providing brokering services for the buying and selling of technologies worldwide.
Called Plug & Play Technology XChange, the exchange enables locally developed intellectual property (IP) from universities, research houses and technology startups to be marketed. Other services include patent sales, technology acquisitions and licensing.
There are now 1,475 technologies for sale, from all over the world, on the exchange.
Plug & Play Technology XChange is a joint venture between local venture capitalist Modal Perdana Sdn Bhd and Tynax Inc in the United States.
Modal Perdana owns Plug & Play Technology Management while Tynax provided the expertise because it had developed a similar exchange in the States.
H.P. Lem, who is a partner in Tynax, said: “There are at least 5,000 technology patents filed every year in Malaysia, most of which are lying dormant.”
This, said Jon Rortveit, chief executive officer of Tynax, indicates that the commercialisation rate in Malaysia is low.
Datuk Ramli Abbas, chairman of Modal Perdana, hopes Malaysian technology companies will list themselves on the exchange; the listing is free.
However, Plug & Play Technology Management will take a percentage from the sale of technologies brokered on the exchange. The amount depends on the type of deal.
Rortveit said there are 150 categories of technology offered on the exchange. “Everything from biotech to software,” he added.
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