How can homegrown inventions boost job creation and value in Malaysia?

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Homegrown Inventions Drive Job Creation and Value Generation in Malaysia

Fuelling the adoption of homegrown inventions is identified as a key strategy for enhancing job creation and generating economic value within Malaysia. This approach aims to improve the nation's global competitiveness, strengthen domestic capabilities, and reduce reliance on foreign labour and technologies. The focus on local innovation is seen as a vital pillar for Malaysia's socio-economic progress and rejuvenation.
Increased IP Utilisation and Patent Approvals

Intellectual property (IP) utilisation in Malaysia has shown significant growth, with charges for IP use nearly doubling from 2012 to reach a peak of almost RM1 billion (US$290 million) in 2021. This upward trend is complemented by a record number of technology patents approved, with 8,500 patents receiving approval in 2020. This momentum in both the supply and demand for innovation underpins the ambition to commercialise 500 local products by 2025, as outlined in the Twelfth Malaysia Plan.
Successful Commercialisation and Product Development

Initiatives like the Ministry of Science, Technology and Innovation's (Mosti) National Technology and Innovation Sandbox (NTIS) have demonstrably fast-tracked local innovations to market. The NTIS programme has successfully brought 24 products to market, generating RM51.8 million in sales revenue. These commercially viable solutions developed by Malaysian innovators span various sectors, including Internet of Things (IoT)-enabled medical devices, disaster relief drones, robotic arms for manufacturing, and solar-powered electric vehicle chargers, showcasing the diverse applications of local ingenuity.
Strategic Procurement and Global Positioning

The MySTI programme, backed by the Ministry of Finance, is designed to stimulate demand for "invent in Malaysia" products by serving as a central directory and reference for innovations with IPs filed in Malaysia. Receiving a MySTI certificate and logo acts as an assurance for government and corporate procurement, potentially tapping into Malaysia's annual expenditure of over RM150 billion on goods, works, and services. This initiative aims to elevate Malaysia's global reputation and competitive advantage, encouraging foreign investment and partnerships by positioning the nation as a hub that values and protects intellectual property.
Transforming Users into Developers

The National Science, Technology and Innovation Policy (NSTIP) 2021-2030 provides a guiding framework for transforming Malaysia's industry and society from being primarily technology users to becoming technology developers. This policy direction, coupled with the inherent advantages of local innovators—such as agility and a deep understanding of local contexts and requirements—positions Malaysia to leverage homegrown inventions for sustained socio-economic development and a more resilient future.

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How can homegrown inventions boost job creation and value in Malaysia?

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