It is imperative for innovation players such as research institutes and universities to boost their synergy, refocus emphasis and align with market requirements to accelerate the commercialisation of local innovations.
During the recent MyTech Pitch 5th Series Programme, MIMOS Semiconductor General Manager Wan Azli Wan Ismail said there was a need to enhance higher value-added activities especially in design and development (D&D), in addition to leveraging the strengths of the local supply chain as a faster pathway to commercialisation.
“We propose that academia and research institutes like MIMOS have greater collaboration to further strengthen the development of our SME’s D&D capabilities and move them up into product companies rather than just providing the services,” he said.
Wan Azli also shared the opportunities offered in the E&E supply chain for innovation and in creating product companies.
He said although E&E is a major contributor to the country’s economy, the value-added services from the sector was declining due to several challenges including the rapid technological pace, decrease in high-skilled manufacturing outputs, slow total factor productivity growth and barriers to fair competition.
Held on 29 July, MIMOS and Technology Park Malaysia jointly hosted the 5th pitching session themed ‘Electrical and Electronics (E&E) and Artificial Intelligence (AI)’.
MyTech Pitch is a monthly pitching platform organised by the Ministry of Science, Technology and Innovation (MOSTI) that provides an opportunity for researchers to promote their findings and innovations to potential investors and industry players, as well as to accelerate the commercialisation of local R&D.