RM28 mil injection could give local startups global edge

RM28 mil injection could give local startups global edge

Mranti CEO says RM1 billion in grants, loans could see more SMEs adopting digitalisation

KUALA LUMPUR – The RM28 million allocation to develop the MYStartup platform through the National Digital Economy and Fourth Industrial Revolution Council is set to improve the competitiveness of local startups towards achieving a Top 20 ranking in the Global Startups Ecosystem by 2030.

The Malaysian Research Accelerator for Technology and Innovation (Mranti) chief executive officer Datuk Rais Hussin Mohamed Ariff said the government’s support in terms of financing and tax relief is crucial to boosting research and development (R&D) and accelerating the development of the technology and innovation ecosystem.

He said the call for government-linked companies and government-linked investment companies to support small and medium enterprises (SMEs) in high-growth, high-value (HGHV) fields with funding up to RM1.5 billion will definitely be a boon to sectors such as the digital economy and electrical and electronics.

Additionally, with RM1 billion in grants and loans made available, more micro, small, and medium enterprises (MSMEs) are expected to adopt technology and digitalisation, as this will help them increase their competitiveness locally and abroad.

“These initiatives are highly welcomed, and it is designed to ensure the sustainability of R&D in the country as the programmes are designed and optimised for targeted outcomes.

“For far too long, we have been fixated on inputs and outputs, and to accelerate the commercialisation of innovation, we must now prioritise impacts and outcomes,” he said in a statement.

Besides the call for more funding, Rais said the government has taken the feedback from stakeholders, namely academics, researchers, corporates and the community at large, to provide a launchpad to expedite commercialisation.

“We have seen the Innovathon programme bring together many innovations that have the potential for commercialisation, and we welcome the continuity of this programme.

“As a nation, we can close the gap to achieving our experimental development research aims to direct players rich in basic research to act as a source of knowledge for product commercialisation or final application,” he said.

Meanwhile, the government has given a clear signal of its intent to develop the sectors of electrical and electronics, aerospace and drone as well as robotics with an allocation of RM10 million.

These are among the HGHV sectors that will position Malaysia towards becoming an innovation-driven economy, and Mranti is humbled and proud to continue spearheading the development of dronetech and robotics.

– Bernama, October 15, 2023

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