MTDC provides funding avenues through the National Innovation Sandbox Initiative — Mosti

KUALA LUMPUR (March 26): Malaysian Technology Development Corporation (MTDC) has awarded RM101.33 million to 112 technology companies to develop, carry out validation processes or commercialize products, technologies and services. Approved the assignment.

Deputy Minister of Science, Technology and Innovation Datuk Mohamad Yusof Apdal said the funding slot was provided through the National Technology and Innovation Sandbox (NTIS) initiative.

He said that since the NTIS was launched in August 2020, it has received a total of 268 applications to fund projects related to drone technology, 4IR technology, agricultural technology and health technology.

“To date, MTDC has approved financing to 112 companies, of which 53 have completed the market technology validation process and entered the commercialization stage.

“Since its launch, a total of 32 local projects have been commercialized worth RM88.4 million and four products have been exported overseas,” he said while concluding the debate on the Motion of Thanks for the Royal Speech. The cabinet approved the decision in the Senate on Tuesday.

He also said a total of RM274 million was disbursed to the Research and Development Fund for 245 projects aimed at creating an enabling environment for innovation and the use of new technologies.

Meanwhile, Deputy Minister of Tourism, Arts and Culture Khairul Firdaus Akbar Khan said the ministry and Tourism Malaysia will further discuss with the state government the proposal to incorporate unique events into the national tourism calendar.

“This will ensure that unique tourism events at the state level, such as the squid catching festival in Terengganu and the ‘Pelita Raya’ competition, will be included in the national calendar to attract domestic and international tourists. “, he said while compiling the report. Deliberating on behalf of the Ministry of Education, Culture, Sports, Science and Technology.

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