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1、,2 June 2007,Tan Sri,Funding & Knowledge Led Growth: The Status in Malaysia,Director Universiti Putra Malaysia,Mohamed Shariff,Prosperity/success,Innovation to Market,Measured globally in todays economy in currency of knowledge Successful countries recognise greatness benefits derived from: Readines
2、s to innovate To accept change To embrace new ideas To take greater risk,Science, Technology & Innovation,Real driving forces behind modern economies Economies depend to a large extent on the translation of scientific discoveries into viable commercial propositions This is what ultimately determines
3、 the pace of economic & societal change And that in turn is what creates wealth,Malaysian R&D Funds,Malaysia Year Ringgit (million) Plan,1986-1990 400 1991-1995 600 1996-2000 903 8 2001-2005 1413,MOSTI Annual Report 2004,Research in Developed & Developing Countries,Research in Developed & Developing
4、 Countries: No. of R&D Staff,Gross expenditure on R&D (GERD) - Malaysia,Application of patent and utility innovations 2001-2006,Research output,Publish papers Presentations at seminars national & international Human resource development MSc, PhD Patents,PM Budget speech 2005,Encourage researchers Pr
5、oviding appropriate royalty Have share in company commercialising R&D product Flexibility in establishing research collaboration with industry,University Strategy - 9th MP*,* DG Dept of Higher Education,Strengthen commercialisation activities Increase incubators for techno entrepreneurship Establish
6、 excellent centres for biotechnology,University Strategy 9th MP*,Strengthen Malaysias position as hub for ICT & global multimedia UM, USM, UKM & UPM Research Universities of world standing Equity for researchers RM400 million for fundamental research,* DG Dept of Higher Education,Commercialisation E
7、ra,At Ministry of Higher Education Division of Industrial Relation & Commercialisation At Universities Establishment of Commercialisation Centres,MOSTI Commercialisation Division,Research output,Publish papers Presentations at seminars national & international Human resource development MSc, PhD Pat
8、ents,Patents Lab scale technologies Marketable products (prototype),Research output,Paradigm shift,University Innovation Model,Massachusetts Institute of Technology (MIT) best model for innovation: MITs charter directs Institute to Wealth Creation Over 100 technology licenses/ year About 20 companie
9、s founded/ year 4000 companies founded overall Involvement in annual sales $230B Created 1,100,000 jobs,Funds for: Setting up Co. Commercialisation Market development,Opportunities under RM9,Opportunities under RM9,RM2.9 Billion - commercialisation of research Jointly develop products with private s
10、ector,Type of funds available,Grants no payback but certain input (in kind or cash) required from private sector,Funds - loan from Ministry of Finance or Bank,1,2,Patent Tech Transfer,Further product development,Product Market Opportunities Feasibility study,Product development New benefit Safe,Comm
11、ercial Production,Market Development,Collaboration with industry,CRDF 1,CRDF 2-4,Techno fund,Garage fund,Product Sales,Opportunities for Funds,Biotech Acquisition Program,Matching grant allocated RM 60 million For technology acquisition,Biotechnology Commercialisation Fund,Undertaken by companies &
12、international corporations Fund allocated RM 30 million,Malaysian Biotech Corporation - Seed Fund,up to RM2.5 million each seed or start-up costs in setting up biotech companies,Malaysian Biotech Corporation R&D Matching Fund,up to RM1 million each provide matching fund for R&D projects which can de
13、velop new or improved products and/or processes and/or technologies,Malaysian Biotech Corporation International Business Development Matching Fund,up to RM1.25 million each promote expansion of BioNexus Status Companies into global market,Small & Medium Industries Development Corporation (SMIDEC) -
14、Matching Grant For Business Start-Ups,Assist start-up of businesses Maximum RM500,000 Improvement & upgrading of existing products, product design & processes To obtain certification & quality management systems Maximum grant allocated RM250,000,Implement internet based common messaging standard for
15、 global supply chain management Conduct business electronically through common codes for sourcing of parts & components Enable Malaysian companies to adopt efficient business processes with large companies & prepare them to embrace global Supply Chain Management (SCM) System,Small & Medium Industrie
16、s Development Corporation (SMIDEC) Grant for RossettaNet Standard,R & D Initiatives,For genomics & molecular biology Production of pharmaceutical & nutraceutical products Promotion of agrobiotechnology activities Fund allocated RM 59 million,Gov. R&D Incentives,For bionexus company Income tax exempt
17、ion for 10 years After 10 years, concessionary rate - 20% Tax deduction Exemption of stamp-duty & real property gain tax - within 5 years Accelerated industrial building allowance,E- Science Fund MOSTI,Generate new knowledge in strategic basic & applied sciences Develop new products or processes nec
18、essary for further development & commercialisation in specific research clusters Generate more research capabilities & expertise within the country,InnoFund - MOSTI,Enterprise Innovation Fund (EIF) To assist individuals/sole-proprietors, micro & small businesses/enterprises to develop new or improve
19、 existing products, process or services with elements of innovation for commercialization Community Innovation Fund (CIF) To assist community groups to convert knowledge/idea into products / processes / services that improves quality of life of communities,Industrial & R&D Grant - MASTIC,Centralised
20、 grant system of financing science & technology (S&T) research in public institutions & research agencies Responsibility of managing fund & implementation of S&T research & development (R&D) programmes Other private agencies - MDC, MSC, & MTDC participate in providing assistance,HCD Funds - MASTIC,T
21、he Human Capital Development Fund Programme in S&T To strengthen human capacity & capability for enhancement of S&T in Malaysia To increase critical mass of scientist & researchers of the country To enhance countrys competitiveness through development of trained, innovative & creative human resource
22、,Loan & venture capital - MASTIC,To help Small & Medium Industries (SMI) succeed from start-up through many stages of growth Business loans to entrepreneurs & business owners of specialised industries To enable entrepreneurs to obtain up to 100% loan & credit facilities to support their business asp
23、irations,Loan & venture capital - MASTIC,Banks - loans: Credit Guarantee Corporation Malaysia Berhad Bank Pembangunan dan Infrastruktur Malaysia Berhad Bank Industri dan Teknologi Malaysia Berhad,MAVCAP,Incorporated in 2001 by Govt. of Malaysia RM500 million - for investment in, nurturing & growing
24、technology sector Investing & growing of venture capital market A new & bold Government-initiated Private-sector managed move to spearhead countrys charge towards a knowledge-based economy before 2020,MAVCAP Seeking fund Direct ventures,Only a select group of companies will qualify under MAVCAPs str
25、ingent investment criteria Enjoy best intellectual, business & financial resources at MAVCAPs disposal,MAVCAP Seeking fund Seed Venture,Opportunistic approach & involved in “priming the pump“ for seed stage deals Jump-start initiatives, growth process & build sustainable value in seed stage companie
26、s Conduct educational & promotional programs to encourage entrepreneurs & technopreneurs with feasible ideas germinating into viable business plans,Selection criteria,Good & experienced management Technology products/services that are in demand or are innovative Market scale & business scalability G
27、ood value proposition Sound business model & execution strategy,Selection criteria,High growth companies in fast-growing markets Clear exit strategy Synergy (within portfolio of partner companies) Other criteria - depending on stage of development of a business, the country of its origin & its conti
28、nuing development plans,Stage Weighting - MAVCAP,MAVCAP not restricted to any stage of investment Invest at least 30% of its fund in businesses that are in start-up & early stages of their development The rest will be invested in expansion, growth & late-stage businesses,Geographical Focus,Priority
29、to opportunities that scale across Asia Initially 70% for direct investment into Malaysian-based or controlled companies Criteria for investments made overseas Technology transfer to Mysia within 12 months of investment; or Significant presence to be set up in Mysia within 12 months; or Investments
30、must provide a network (sales, distribution or otherwise) or value added services to MAVCAP & its partner Co.,Country cluster strategy - MAVCAP,Develop in-depth knowledge of select countries or group of countries & investing in them The clusters selected are :- Malaysia & Singapore Japan & Korea Gre
31、ater China (China, Taiwan & Hong Kong) United States of America,Investment Guidelines MAVCAP,No majority positions unless in exceptional circumstances Direct investment other than start-up range RM500,000 - RM10 million per investment Maximum investment per company is RM40 Million For start-ups inve
32、stment is RM50,000 to RM500,000,Investment Guidelines MAVCAP,For private equity investment only Board membership (min. 1 representative on the partner board) Investment horizon for both initial & follow-on investments - average of 5 years for exit from initial investment,The commercialization/busine
33、ss culture is new in Malaysian Research Institutes Malaysian scientist not aggressive in marketing themselves & their products The private sector still skeptical - Malaysian inventions,Challenges,Challenges,Products not highly demanded / attractive to industries Lab-scale product / process; companie
34、s not convinced to invest Not patentable products, difficult to protect IP. Easily copied, too risky for investment,Challenges,Innovative products but process involved not economically viable No attempt to up-scale or modify products Poor timing, not targeted for the current markets,Lack of Funds!,C
35、hallenges,Patent non-tangible asset, evaluation is difficult Disclosure of critical technology knowledge can induce misconduct Market regulations & policy change Research is a long term commitment return on investment is extended,Challenges,Work within the government system New unclear policies Slow
36、,New leaders different vision,Best Case Scenario,Good scientist novel innovations should generate good income Novel technology can sell for a few million Some universities give 90% to researcher,Worst Case Scenario,Co. kills off innovations Co. pays pittance Co. gets info from nave scientist F O C U
37、nethical practices for profit backlash to scientist Poorly written agreement benefits Co.,Where do we go from here?,Increase research funds = % GDP Quantum leap research to higher level Strengthen research groups & excellent scientist Provide world class research facilities Generate wealth from R&D
38、technologies,Generate more IPs for nation building & wealth creation,Ashkurak,Haniyan,MTDC Garage Scheme,Max RM500,000 Does not need feasibility study Require business plan Entrepreneur to contribute (10%) RM50,000,Commercialisation of R & D Fund (CRDF) Coordinated by MTDC,CRDF I - RM500,000/project
39、 To cover feasibility study Market development,CRDF II = Market development & Initial production & QC CRDF III = Commercial production CRDF IV = Product enhancement for business survivality (Continuous R & D and Innovation),CRDF 2 - 4,Techno funds,i) Type A - Pre-Commercialisation Development of com
40、mercial ready prototypes/pilot plants/clinical trials/upscaling for demonstration & testing purposes but not commercial exploitation ii) Type B - IP Acquisition Acquisition of IP (laboratory scale prototype) from overseas or local sources for further development up to precommercialisation stage,Tech
41、no funds,Industry applicants are encouraged to collaborate with one or more GRI/IHL (public or private) GRI / IHL applicants must collaborate with one or more industry partners who should contribute financial or non-financial resources equivalent to 50% of the total project cost. Start up Co.,Negiot
42、iation,1st offer RM200,000 Now RM 4 million + 20% equity to researcher + 5% equity to UPM + Consultancy,Thanks to WIPO,Researchers role,No experience in commercialisation or entrepreneuralship,Training researchers on all aspects of commercialization including IP protection,Convince the industry World class expertise and technologies,Win - Win situation = smart partnership,Industry search for products & expertise world wide In house experts & technology not tapped Weak in marketing ourselves - proactive,