-preview.jpg)
Malaysia to review IP policy
13 October 2023
To improve the national commercialization ecosystem that will spread technological ownership, adoption and transfer, Malaysia seeks to review its intellectual property policy.
According to the Mid-Term Review of the 12th Malaysia Plan (12MP) for 2021 to 2025 report, IP assets will be included in the evaluation to acquire financing to stimulate commercialization and innovation initiatives. Reportedly, government research institutes and higher education institutions will use technology transfer offices (TTOs) to enhance their research and commercialization abilities. This will help them maximize the value generated from IP.
“TTOs will be supported by the specialized talent in technology transfer, IP management and IP valuation to accelerate commercialization activities,” said a representative.
The report listed a number of obstacles to increasing R&D&C&I, including poor IP commercialization in Malaysia, a lack of industry readiness for new technology adoption and high expenses associated with creating and implementing new technology.
The administration wants to maximize R&D&C&I potential and accelerate technological progress throughout the remaining 12MP term to boost economic growth. In this respect, two new strategies will be put into practice, namely stepping up the use of cutting-edge technology and stepping up R&D&C&I operations.
“The implementation of these strategies is essential in ensuring an exponential progression to a high-technology and high-income nation, which is characterized by higher productivity and increased competitiveness,” said the report.
Meanwhile, for government funding consideration, it is said that a few specialized R&D&C&I fields will be simplified based on the 10-10 Malaysian Science, Technology, Innovation and Economy (MySTIE) framework. This will guarantee that all government-funded R&D&C&I programs and initiatives get the best possible return on their investment.
One of the 12MP goals is to increase gross R&D spending as a proportion of GDP from 0.95 percent in 2020 to 2.5 percent by 2025. The objective for the Malaysian patent applications is to increase from 936 last year to 2,000 by 2025.
The government also hopes to move Malaysia from 36th place last year to the top 20 by 2025 in the Global Innovation Index.
- Excel V. Dyquiangco
