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KUALA LUMPUR, March 25 -- NanoMalaysia Bhd has entered into a Memorandum of Agreement (MOA) with one of India’s technology incubators, 10000StartupsIndia, as well as Malaysia-based Foodie Box Group to kickstart a nanotechnology commercialisation initiative.
In a statement today, NanoMalaysia said the initiative, which involves Malaysian start-ups and small and medium enterprises (SME) partners, is expected to accelerate and scale-up more than 1,000 India based start-ups, SMEs, and micro SMEs.
“In line with Malaysia’s aspiration to become a technology exporter nation, the tripartite MOA will entail NanoMalaysia initiating technology transfer activities through 10000StartupsIndia to enable Indian start-ups, SMEs, and micro SMEs in sectors such as clean energy, textile, urban farming, healthcare and social enterprise to adopt and deploy nanotechnology in their product offerings.
“The nanotechnology intellectual property rights (IPR), products, and solutions deployed are jointly developed and co-owned by NanoMalaysia and its suite of SME partners here in Malaysia,” it said.
As part of the agreement, the company said it will develop customised business models to match relevant solutions from Malaysia’s nanotechnology start-ups and SMEs to adapt to India’s unique technology ecosystem and participate in the incubation process for their start-ups, SMEs and micro SMEs.
It said this approach intends to accelerate the growth of NanoMalaysia’s early and growth stage high-tech enterprises.
NanoMalaysia chief executive officer Dr Rezal Khairi Ahmad said the MOA is one of the ways that Malaysia can focus on becoming an innovation hub and exporting its technology – directly supporting the country’s high-tech nation target.
“It is also the fastest way for Malaysian companies to have an equity in companies and business activities abroad and expand our global technological footprint, driven by clear outcomes,” he said.
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