TPM adds programmes to fuel innovation economics

TECHNOLOGY Park Malaysia (TPM) will offer services in five areas before year-end to strengthen innovation supply that could assist in accelerating the country’s economic recovery.

TPM will offer improved integrated infrastructure services, a sandbox site, experimental lab and a commercialisation centre as well as programmes to build a stronger pipeline of innovation.

CEO Dzuleira Abu Bakar (picture) said TPM is at an opportune intersection between science, technology, innovation and parks to drive the commercialisation agenda.

“We need to push for innovation beyond the confines of the laboratory or academia, into the market where innovative technology matches its specific, and eventually profitable use case,” she said in a statement yesterday.

Among its other efforts, the company will also provide updates on designated development zones for emerging technologies including zones, drones, robotics, artificial intelligence and mid-tech for applications in various sectors including agriculture, smart manufacturing, smart cities and health to capture rising market demand.

Dzuleira added that innovation allows the group to unlock new value which it wants to capitalise on.

“In delivering socio-economic value, innovations must be mission-based, offering more affordable, available and accessible solutions for the people.

“To achieve these efficiencies and economies of scale, we are working to expand the volume of transactions by first enabling Malaysia’s basket of technology companies to grow.

“We believe these integrated infrastructure services and programmes will enable more technology and innovation companies to have a stronger transition to success. It is not about one company or 10, but it is about realising value across the entire value chain in the economics of innovation,” Dzuleira said.

She noted that TPM will prioritise companies that operate within the 10 key socioeconomic sectors and 10 global leading science and technology drivers as outlined in the Science, Technology and Innovation Ministry’s (Mosti) National Science and Technology Innovation Policy.

TPM plays an active role through the National Technology and Innovation Sandbox (NTIS) which enabled 500 technology companies to receive funding, commercialisation and regulatory facilitation support in the past 12 months.

MOSTI had previously announced that TPM will be consolidated with the Malaysian Global Innovation and Creativity Centre (MaGIC) to form a technology and commercialisation accelerator agency.

The agency is aimed at transitioning the nation from technology users to technology producers.

Mosti Minister Datuk Seri Dr Adham Baba said his main focus under his new portfolio is to promote the economics of innovation which includes planning innovation methods that will enhance the economy.

He would also focus on exporting science and technology as a contribution to the world in his efforts to promote the vision.