NTIS COMMERCIALLY SUCCESSFUL WITH 24 INNOVATIVE PRODUCTS, GENERATING RM51.8 MLN – MOSTI

The National Technology and Innovation Sandbox (NTIS) programme has successfully commercialised 24 locally innovated products with a sales value of RM51.8 million since it was implemented in 2020.

Minister of Science, Technology and Innovation (MOSTI) Chang Lih Kang said another 98 applications for the commercialisation of innovative products were received and approved by the NTIS Sandbox Fund Approval Committee.

“We take great pride of the achievements of NTIS in these two years, (whereby) a total of RM79.4 million in funds have been distributed… The programme is also supported by 50 partners in the Innovation Acceleration Network which offers technology, testbed sites and funding mechanisms.

“During these two years as well, a total of 244 job opportunities were generated,” he said after officiating the launch of the ‘NTIS 2-Year Book’ at the NTIS Two Year Progress ceremony at the Malaysian Research Accelerator for Technology and Innovation (MRANTI) Park in Bukit Jalil today.

Chang said as many as 10 Sandbox sites were successfully developed for the solution of needs related to medicine and healthcare, agriculture, forestry, smart cities, transportation, smart manufacturing, environment and biodiversity during that period.

At the event, Chang also witnessed the agreement of collaboration between NTIS represented by MRANTI, with Time dotCom Berhad, and between MRANTI and the Innovation & Technology Managers Association (ITMA) and Asiatech.

Meanwhile, MRANTI chief executive officer Dzuleira Abu Bakar said technology and innovation companies can advance prototypes and proof of concept of their innovative products in a controlled and safe environment through NTIS.

According to her, for the year 2023, NTIS aims to develop two Sandboxes, coordinate 70 start-up companies and help 20 products to be commercialised in line with the targets set in the 12th Malaysia Plan (RMK12).

“NTIS also expects to commercialise 100 products (innovations) by 2025… With regulatory support, the marketing period of a product can be shortened,” she said.

The NTIS programme provides a fast track for the development and live testing of technology-based products, including advanced intelligence systems, smart materials, additional analysis, drones and robotics.

Source: BERNAMA News Agency