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Commercialization of IP Remains Low

Issued: February 01 2010
The commercialization of intellectual property in Malaysia remains low, Mohamad Batr, senior division secretary (planning) at Malaysia’s science, technology and innovation ministry, said in a speech at Malaysia Technology Expo 2010.

Batr was speaking on behalf of minister Maximus Ongkili.

The value of products from research and development carried out is only 3.4% of the RM27 million (US$8 million) allocated in research and development funds. The fund, according to media sources, comprises the innofund, science fund and technofund portfolios.

To increase commercialization, Batr told the expo that the government has created a policty for R&D fund recipients to retain ownership rights to the intellectual property they create.

Batr said 270 patents were registered with the Malaysian Intellectual Property Office (MyIPO) last year; the ministry’s goal is to increase the total number of patents by 10% in 2010.

“The number of patents has to be increased if we want to achieve our objective of becoming a high-income nation,” Batr said on behalf of Ongkili. “The government believes that with the existing policy, the commercialisation rate can be raised.”

 

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