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Government Policy on Innovation for Economic Growth

Learn about the Malaysian government's commitment to innovation and its impact on the country's economy. Explore the initiatives, programs, and strategies in place to foster innovation and drive economic growth.

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Government Policy on Innovation for Economic Growth

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  1. Malaysian EconomyBachelor of Business Administration (BBA) Professor Dr. Ahmad Bin Othman School of Business and Management University College of Technology Sarawak (UCTS) 96000 Sibu, Sarawak

  2. Today’s Agenda (Week #6) • Innovation and technological progress • Government policy • Innovation and technological progress

  3. Government policy On Innovation

  4. News PM CHAIRS FIRST NATIONAL INNOVATION COUNCIL MEETING FOR 2011 KUALA LUMPUR, Feb 14 2011 (Bernama) -- Prime Minister Datuk Seri NajibTunRazak Monday chaired the first meeting of the National Innovation Council (NIC) for this year, which was held in Putrajaya. A statement issued by NIC stated that Najib, in his speech at the meeting which was attended by 28 council members, expressed the importance of innovation in boosting productivity and the country's competitiveness, as well as to drive the nation's transformation agenda into making Malaysia a high income country. "He (Najib) also stressed the need to study weaknesses in the innovation institution structure in the context of the country's innovation ecosystem. "He also emphasised the importance of creating a perfect seamless continuum in the development of innovative human capital through the national education system," it said. 

  5. Continue… According to NIC, Najib urged the Higher Education Ministry and the Education Ministry, together with the relevant institutions, to study the serious gaps which existed in the development of human capital from the primary school level and how to overcome it with the best approaches. The meeting discussed five working papers, including one on "The National Innovation Agenda: Strengthening the Role of the National Innovation Council to Support Innovation Led Growth under the Tenth Malaysia Plan“ as well as the report on the organising and achievement of the Malaysia Innovative 2010, a programme to be continued this year. On producing innovative students, the Prime Minister had said that Science, Mathematics and English Language were important subjects which should be emphasised in school. This year, the Science, Technology and Innovation Ministry will hold a Science and Mathematics promotional programme, with the theme 'Go Science, Love Maths' to enhance awareness and instill a culture to appreciate science and mathematics among Malaysians. MIC also said that 2012 would be declared a National Science Year

  6. National Transformation through Creattivity and Innovation Emphasis on innovation aspect is important because it is not only creating job opportunity but also encourage national competitiveness. YAB Najib Tun Razak, Perdana Menteri Malaysia The new economic model based on creativity, innovation and value added activities will multiply the people per capital within 10 years 2010 Tahun Kreativiti dan Inovasi 2011 Gerak Kreativiti dan Inovasi 2012 Sains dan Inovasi 2013 Matematik dan Sains

  7. … The Government is committed and serious in undertaking total innovation to elevate the nation to a more advanced economy. Innovation Leadership for 1United, Innovative Malaysia.” -Y.A.B. Dato’ Sri Mohd. Najib Tun Abdul Razak, Prime Minister of Malaysia on Innovation Budget Speech 2010 on 23th October 2009

  8. Malaysia’s overall is ranked at 28 out of 132 countries

  9. Innovation Performance -35 Innovation Enablers - 40 Source : Global Innovation Index 2013. Geneva, July 1, 2013 http://www.wipo.int/pressroom/en/articles/2013/article_0016.html We are here!

  10. Global Innovation Index 2013 Top Ten 2013 ranking 1. Switzerland (Number 1 in 2012) 2. Sweden (2) 3. United Kingdom (5) 4. Netherlands (6) 5. United States of America (10) 6. Finland (4) 7. Hong Kong (China) (8) 8. Singapore (3) 9. Denmark (7) 10. Ireland (9) 32 Malaysia Ranking ?: ______ Rank 39 in 2011 Source : Global Innovation Index 2013. Geneva, July 1, 2013 http://www.wipo.int/pressroom/en/articles/2013/article_0016.html

  11. Challenges in Research and Development E Phase 4 :K Enterprise Strengthen the Entrepreneurship C Companies, JVenture Strengthen the Commercialization Phase 3 : Commercialization D Intellectual Property, Marketing Enterprise License Strengthen the Development Phase 2 : Prototype R Design, Engineering, Technology Integration Strengthen the Research Phase 1 : New Findings New Findings. Invent technology

  12. Technology focused National Innovation Model 3 - 5 years Acquisition : Approach 2 Income, Market Driven Market Growth and : Approach 1 Innovation (MDI) Market Malaysia’s Driven Jobs Technology Technology Identified Strategic Innovation Driven Positioning Innovation and Value - added ( TDI ) Risk Capital Market products and services niche Market Science Technology ( to be ( Basic Identified) Research) Science Grants Risk Capital Technology Grants 3 - 5 years 10 – 15 years

  13. Components for Total Innovation Ecosystem FINANCIAL ENTERPRISE & TALENT & Private venture COMMUNITY INDUSTRY EDUCATION capitalists, angels and Urban, rural, healthcare, business investment, Primary, secondary, Manufacturing and societal, branding, government investment tertiary, vocational, services, SMEs, GLCs, in innovation Business support, corporate training, MNCs infrastructure mentoring,, grassrots community service innovation GOVERNANCE & MARKET ACCESS LEADERSHIP & KNOWLEDGE POLICIES CULTURE Local and global INFOSTRUCTURE Policy coordination, market, branding, Leadership, Regulatory, transparency, empowerment, Access to information technology and market public services delivery, community and knowledge intelligence, business procurement, political participation foresight, technology & environment IP acquisition INFRASTRUCTURE INNOVATION R&D NETWORKING SUPPORT ICT connectivity, Basic, applied, Tech commercialisation Markets, expertise transportation, offices,/ centres / strategic, prioritised , and finance incubators,Tech Parks, utilities product - driven, value IP Laws & regulations, added research, design & business consultancy, development clusters, networks

  14. Remove Focus on obstacles that areas with discourage high growth Establish mobility of R&D potential National personnel R&D programme Allocate sufficient Differentiated resources to reward system achieve critical between R&D mass of R&D and non - R&D personnel and for personnel state - of - the - art facilities

  15. Thank You

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