TECHNOLOGY Park Malaysia (TPM) will be upgraded into an Industrial Revolution 4.0 (Industry4WRD) International Innovation Hub (IIH) following RM30 million allocation under the Budget 2022.
Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz announced the allocation in the Budget 2022 last Friday, which aims to implement the innovation hub.
TPM CEO Dzuleira Abu Bakar (picture) said the hub will act as a centre of excellence and support the innovation ecosystem by developing new technology clusters such as drones, robotics and autonomous vehicles.
“TPM will also play host to the first Artificial Intelligence Park in Malaysia, and we will introduce various facilities such as 5G development hub, sustainable urban farming incubation facility, biotechnology incubation hub and autonomous vehicle and robotics hub,” Dzuleira said in a statement yesterday.
She said all the facilities are interlinked, such as the testing, incubation and development of autonomous vehicles go hand-in-hand with the development of 5G technology.
The IIH also aims to impact 10,000 entrepreneurs by providing access to infrastructure and facilities.
“Other targets include coaching, mentoring and training 5,000 entrepreneurs on market access, and enrolling 7,500 participants in a Knowledge Exchange programme with international research universities and institutes,” stated Dzuleira.
Besides, TPM hopes to enlist 750 small and medium enterprises (SMEs), incubatees or start-ups in its facilities which will be fitted with 5G technology.
“Drone development is another focus area, in which we target to support 50 companies through guidance and living lab drone facilities,” she noted.
In September, TPM introduced Area 57 which is a centre of excellence for unmanned aerial vehicle (UAV) and unmanned aircraft systems.
“The creation, development and commercialisation of technology and innovation related to UAVs or drones, will drive recovery and growth of Malaysia’s economy,” she added.
According to her, the drone technology industry in the global drone market is forecast to achieve US$41.3 billion (RM171 billion) in 2026.
Meanwhile, TPM targets to produce 500 Intellectual Properties products or solutions to the national or international market by 2025 through the National Technology and Innovation (NTIS) and the Malaysian Year of Commercialisation under the 12th Malaysia Plan (12MP).
Government allocations to Cradle Fund, Industry4WRD, and the introduction of MyStartup will also allow TPM to generate new wealth while addressing societal challenges.
Budget 2022 also upholds the formation of the technology commercialisation accelerator (TCA) which was formed from the strategic consolidation of TPM and Malaysian Global Innovation and Creativity Centre.
“TCA will start its operating next year to accelerate the commercialisation of technology by nurturing strong partnerships and strategic collaborations between the industries and academia, which will bring impactful research through patented inventions and ready-to-use technologies,” she further said.