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MCY Summit 2023 Will Be Launching Pad For Malaysian Talent, Inventions - MOSTI

July 27, 2023
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KUALA LUMPUR, July 27 (Bernama) -- The Malaysia Commercialisation Year Summit 2023 (MCY Summit 2023) to be held on Aug 3 and 4, here, will serve as the launching pad for Malaysian talents and their inventions to make an impact at the global level. 

Science, Technology, and Innovation Ministry (MOSTI) secretary-general Datuk Dr Aminuddin Hassim said with the theme ‘Supercharge Your Way to Impact’, the summit focuses on amplifying synergy among the various parties that make up the Malaysian technology ecosystem. 

“Supporting local innovators in the science, technology and innovation arena will spur greater job and value creation and increase our competitiveness,” he said in a statement today. 

The summit, to take place at the Connexion Conference & Event Centre, will bring together innovators, researchers, investors, and industry leaders, and offers them the opportunity to engage in collaborative dialogues and form synergistic partnerships with a total of 60 exhibitors to showcase their products and inventions, which is expected to draw in more than 5,000 attendees this year. 

“The summit also acts as a platform to showcase and celebrate successfully commercialised research, development, and innovative goods and services by the local industry, institutions of higher learning and research agencies,” he said. 

Aminuddin said the local products and services being exhibited have been stress-tested in real world environments and are ready for at-scale deployments. 

MCY was first introduced in 2016 as a platform to increase awareness on the importance and potential of local innovation that has the potential to be commercialised and aimed to boost the results of research, development, and innovation (R,D,&I) from universities, institutions, local research agencies as wealth generators through the commercialisation process. 

According to the statement, from 2016 to 2021, forty-nine products made it to the international market from a total of 434 local R,D&I products, technologies, or services that were commercialised during this period, with sales value of RM476 million. 

Previous MCY success stories include a medical device that locates veins without making contact with the patient’s skin, a smart urban farming kit, a medical diagnostic device for infectious diseases, an emergency evacuation system and a digital system developed for rescuers to monitor their physiology during rescue operations. 

According to the statement, last year, more than RM50 million in value was generated at the MCY Summit from memorandums of understandings and agreements involving commercialised products, technologies, and services. 

Also, the Malaysian Research Accelerator for Technology and Innovation (MRANTI) will support local players in their internationalisation efforts, and thereby strengthen Malaysia’s position as a regional hub for innovation, attract and grow innovative enterprises and develop relevant skill sets, the statement read. 

MRANTI chief executive officer, Dzuleira Abu Bakar said the primary objective of the MCY Summit also aligns with the national agenda and MRANTI initiative, which aims to promote the sustainability of commercialisation through three key strategies. 

They are forging strategic and strong collaborations, accelerating innovation to market and building robust R&D and intellectual property commercialisation platforms (IP). 

Other highlights of the summit include business matching and coaching-mentoring sessions to foster collaborations between the industry and academia and research institutes.  

For more information on the MCY Summit 2023, visit https://mcyportal.mosti.gov.my


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