Robust Business Environment Needed To Nurture Innovation, Support Clean Energy Adoption -- Mosti Minister 

KUALA LUMPUR, May 10 (Bernama) -- Malaysia needs a robust business environment that nurtures innovation and supports the adoption of clean energy solutions, said Science, Technology and Innovation Minister Chang Lih Kang.

He said this is essential to transition from traditional practices to more sustainable ones and it requires creativity, commitment, and cooperation.

Citing initiatives like the Solarvest Innovation Lab (SIL), a funding programme for startups in the green technology, financial technology, and renewable energy sectors, Chang said the initiative is among the efforts that will drive Malaysia towards a greener economy.

"In Malaysia, the awareness and implementation of environmental, social, and governance (ESG) principles are gaining momentum.

"This is a positive trend that underscores our commitment to sustainable development," he said in his speech during the launch of SIL 2024 here, today.

Chang stressed that the Ministry of Science, Technology and Innovation (Mosti) is committed to promoting ESG principles, with a particular emphasis on advancing green technology.

Meanwhile, Solarvest Holdings Bhd executive director and group chief executive officer Davis Chong Chun Shiong said the launch of SIL 2024 signifies a critical step in the company's commitment to fostering Malaysia’s innovation ecosystem. 

"Since the commencement of SIL (in 2021), we have successfully gathered over 100 participants who showed strong interest in technology innovations and cultivated a network of promising innovative startups with revolutionary ideas," he said in a statement today.

According to the statement, SIL 2024 will finance RM10,000 seed grants to fuel the proof of concept, and a minimum of RM100,000 accelerator funds to candidates who demonstrate strong concepts progress and scale-up potential. 

Application opens on May 10, 2024.

-- BERNAMA