Based on shared data, public universities have reportedly established 450 spin-off companies, which is a very high number, but the commercialization rate is still low, at around five percent.
This means that Malaysian educational institutions have many good ideas that can be developed, but when it comes time to market these developed products, it is usually quite difficult to do so.
In this regard, the Prime Minister, Dato’ Seri Anwar Ibrahim has said that the government will provide flexibility to allow company founders to carry out the following activities to market their products:
Public university lecturers who are founders of spin-off companies are allowed to take a one-year research leave or sabbatical for the purpose of R&D commercialization.
The government has agreed to channel an initial fund of 10 million ringgit through the establishment of the National Fund for Spin-off Companies.
This provides an opportunity for 50 lecturers to focus entirely on developing spin-off companies, as well as attracting private investment of at least RM30 million with a three-fold multiplier effect.
Examples of products that have been developed through local R&D processes include a portable fruit dialysis machine and a tongue cancer treatment by Universiti Sains Malaysia, and fertility treatment and biological therapy for knee osteoarthritis by Universiti Malaya.