Universiti Kebangsaan Malaysia (UKM) Technology Sdn Bhd, the commercial arm of UKM, is optimistic 33 of its start-up companies will be able to achieve collective sales of RM30 million within four years. The start-up companies were set up to commercialise the university’s research and development (R&D) and Intellectual Properties (IPs). It currently has about 500 registered IPs. UKM Vice Chancellor Professor Tan Sri Datuk Wira Dr Sharifah Hapsah Syed Hasan Shahabudin said the companies, among others, were involved in green technology, pharmaceuticals, biotechnology and agriculture technology. She was speaking to reporters after the launch of the 33 start-up companies and the UKM-Centre for Entrepreneurship and SME Development (UKM-CESMED) by the Minister of Higher Education Datuk Seri Mohamed Khaled Nordin here today. CESMED provides experiential and consultation-based learning and training approaches that encompasses education, training, research and consultancy to promote entrepreneurship development and sustainable growth. Sharifah Hapsah said the 33 companies were established in accordance with the Economic Transformation Programme which required universities to move rapidly into the innovation economy to spur transformational inventions and business growth. Meanwhile, Chief Executive Officer of UKM Technology Ikmaluddin Ismail said the products of most start-up companies were in the prototype stage and required more time to be commercialised. “Some of the companies has secured business locally and overseas with the support from ISIS Innovation of Oxford University,” he said, adding that sales of certain products would depend on market demand.
Ikmaluddin said out of the total start-up companies, ten would receive funding of up to RM2 million each from Malaysia Technology Development Corporation. “We expect to submit another 20 applications under the RM500,000 prototype research grant scheme,” he added. Meanwhile, Mohamed Khaled said the government had allocated RM741 million for the implementation of the Fundamental Research Grant Scheme for the first two years of its implementation under the 10th Malaysia Plan.