KUALA LUMPUR, Aug 7 (Bernama) – The Malaysia Commercialisation Year 2024 (MCY Summit 2024) is not only a platform for commercialising local research, development and innovation (R&D&I) talent but also attracts international industry players.
Science, Technology, and Innovation Minister Chang Lih Kang said that each year, several international companies from Asia and Europe participate in the summit due to the high quality of the participants and entrepreneurs, as well as the high-quality products showcased.
"That is why every year they are eager to attend, seeking products that can be brought to market. This year's summit will highlight products, technologies and R&D&I in the biotechnology, medical and aerospace sectors," he said during the Bernama TV programme ‘Ruang Bicara’ titled ‘MCY Summit 2024’ tonight.
He added that since the inception of the MCY in 2016, many achievements have been recorded, including the successful commercialisation of 474 products valued at RM540 million.
"This means that products showcased at the MCY have successfully entered both the local and global markets. This value is substantial and quite significant for the national economy and it continues to grow.
"So, through the organisation of this summit, we aim to support the national economy while also developing the domestic research and development ecosystem," he said.
Chang noted that the summit, which will be held on Aug 12 and 13 at the Kuala Lumpur Convention Centre, is expected to witness at least six Memorandums of Understanding (MoUs) being signed. The event will also feature business matching sessions and the MCY Awards Ceremony, offering a total prize pool of RM1 million.
"We have five categories: Overall Award; Commercialisation Achievement Award; New Innovator Award; Research Entrepreneur Award and Research Collaboration Award. Prime Minister Datuk Seri Anwar Ibrahim is also expected to attend to launch the summit," he added.
Chang also expressed hope that this year's summit will lead to the commercialisation of more high-value products and encourage the public to attend and see the various products and innovations presented by researchers, innovators and lecturers.
-- BERNAMA
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