The Ministry of Science, Technology and Innovation (MOSTI) of Malaysia has announced the formation of the Malaysian Research Accelerator for Technology and Innovation (MRANTI) on Tuesday, merging two agencies Technology Park Malaysia and Malaysian Global Innovation & Creativity Centre (MaGIC) as the Southeast Asian country looks to fast-tracking the commercialization of its technology and innovation.
MRANTI is expected to operate next year in line with the country’s technology commercialization catalyst agenda through the Technology Commercialization Accelerator in driving Malaysia’s economic growth through science, technology and innovation (STI-E), according to a statement.
Science, Technology and Innovation Minister Dr. Adham Baba said the main mission of MRANTI is to facilitate the process of generating ideas to the generation of impact through the creation, development, and commercialization of technology and innovation.
“MRANTI was established as a technology and innovation launch platform to help enterprises, researchers, and inventors to maximize the return of ideas at a faster rate, by optimizing synergies,” he added.
Besides offering capacity-building programs and assistance to penetrate the market, MRANTI will also offer prototype facilities and live test fields as well as other infrastructure facilities and services to researchers and innovators.
The announcement also comes as Malaysia aims to create more tech startups, unicorns and accelerate M towards becoming an innovation-driven economy. MOSTI announced in October that it is developing a Startup Development Roadmap with the target of creating 5,000 companies including five unicorn startups by 2025.
The ministry would also set up a comprehensive platform known as MyStartup by the end of the year to boost the development of startups in Malaysia.
“This can be achieved through an ecosystem that connects various agencies and relevant ministries in aspects such as funding, training, and guidance,” Dr. Adham said then.
He also cited the success story of the used car platform Carsome, which achieved unicorn status this year, and Malaysia-based drone tech firm Aerodyne. Aerodyne has grown from the fifth position in the world to become the number one drone remote-sensing service provider as reported by the Drone Service Provider Ranking 2021 Report.
Both companies received funding from Malaysia Venture Capital Management and government-linked agencies, besides venture capital firms.