BUSINESS

STV, MIDA FIRMS UP LONG-TERM BUSINESS COLLABORATION IN TECH PROJECTS

06/09/2021 02:28 PM

KUALA LUMPUR, Sept 6 -- SIRIM Bhd’s (SIRIM) wholly-owned subsidiary, SIRIM Tech Venture Sdn Bhd (STV), has inked a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to foster a long-term business collaboration in technology-driven projects.

Under the MoU, STV hopes to tap into MIDA’s business connections with investors, local large companies and small and medium enterprises seeking innovation, while MIDA will facilitate business leads to STV on technology-driven projects.

MIDA will also advise STV on funding and government incentives, SIRM said in a statement today.

SIRIM president and group executive Datuk Dr Ahmad Sabirin Arshad said the collaboration would provide MIDA with access to SIRIM’s technology solutions, as well as investments in new and future technology through various financing for product or technology adoption to achieve technology-led growth.

He said among other things, the parties can explore technology adoptions in areas such as Industry 4.0, fabrication of machinery and equipment, renewable energy, medical devices and environmental technology.

Ahmad Sabirin added that STV can provide consultancy and technical assistance to local industries, and propose the application of SIRIM’s technology, innovative solution or adoption of other technology to a specific target group.

-- BERNAMA


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