Waqf for research and development (RandD) will be introduced to increase the contribution of companies and individuals in research and development and commercialisation and innovation (RandDandCandI) activities as one of the stepping stones to optimising RandDandCandI and escalating the advancement of technology.

According to the 12th Malaysia Plan (12MP) Mid-Term Review (MTR) released by the Ministry of Economy, to better manage RandDandCandI programmes and projects, the Research Management Unit (RMU) will be restructured and empowered as an independent agency entrusted with managing allocations for public-funded RandDandCandI programmes and projects.

“In addition, research funding will be streamlined based on technology readiness level and ecosystem readiness while existing policy will be reviewed to increase investment of government-linked companies (GLCs) in local RandDandCandI activities and talent development.

“A cost-sharing voucher programme will be introduced to enable doctorate graduates to commercialise research outputs by establishing start-ups,” it said.

Meanwhile, in an effort to elevate the adoption of advanced technologies, the Inter-Agency Global Innovation Index Competitiveness Monitoring Committee (JIPGII) will be established to monitor and recommend intervention measures to enhance the innovation ecosystem.

The MTR stated that JIPGII will improve the performance of selected key indicators in the Global Innovation Index (GII), such as the Programme for International Student Assessment (PISA) scales in reading, mathematics and science as well as tertiary enrolment in Science, Technology, Engineering and Mathematics (STEM) will be given priority.

“Focus will be given to develop sufficient and competent science, technology and innovation (STI) talent pool towards enhancing innovation as well as indigenous technological creation and development.

“For this purpose, strategic collaboration with relevant stakeholders will be strengthened to allow thorough assessment and address STI talent needs effectively,” it said.

It also said efforts will be intensified to nurture ideas into products and services by leveraging the role of technology commercialisation accelerator in bringing together key stakeholders including start-ups.

Source: BERNAMA News Agency