Once completed, the rebranding and restructuring process will see TPM leading the TCA entity, said Dzuleira
By AFIQ AZIZ / TMR FILE PIX
THE The plan to consolidate the Technology Park Malaysia Corp Sdn Bhd (TPM) and the Malaysian Global Innovation and Creativity Center (MaGIC) is underway and is expected to be concluded before the end of the year.
The merger exercise, aimed at accelerating technological innovation in the country, should allow TPM to become “a real technological park”, 25 years after its creation.
The project, which is part of the Multimedia Super Corridor (MSC) program, has been criticized for not living up to the mandate given by the government despite managing a total of 276.4 ha of prime land within of the MSC.
The new CEO of TPM, Dzuleira Abu Bakar (Photo) said the rebranding and restructuring process, when completed, will see TPM leading the Technology Commercialization Accelerator (TCA) entity.
She stated that TCA would take on a number of functions, including functions performed by PlaTCOM Ventures Sdn Bhd in intellectual property advisory and consultancy.
According to Dzuleira, who took office on April 15, 2021, the consolidation process is progressing well, although there are challenges ahead due to the ongoing Covid-19 epidemic which is putting the country under control. movements (MCO) since January.
She said the appointed consultant has already started their work and the due diligence process is currently underway and will be accelerated before December.
âThe consolidation work has started, we are aiming for the entry into force of the new entity, TCA, from January next year.
âThis year, we will manage the consolidation processes, change management and realign the whole strategy. It will take some time, so we won’t be able to do this until January 2022, âshe said in a recent virtual interview with Malaysian reserve.
In April, the Ministry of Science, Technology and Innovation (Mosti) announced its intention to merge TPM and MaGIC into one TCA Agency.
Former Minister of Mosti Khairy JamaludDin said the initiative aims to equip Malaysians to better tackle issues such as low commercialization rates, low gross domestic spending on research and development (R&D), low spending on R&D. the private sector and address the issue of overlapping roles between government agencies. .
Khairy said the main objective of the mission is to accelerate the creation, development and commercialization of technology and innovation.
TPM is a fourth generation tech park with physical incubators and tech infrastructure, while MaGIC has played a role in cultivating tech start-ups and the innovation ecosystem through a wide range of interventions ranging from regulatory facilitation, market access support as well as capacity building.
However, since its inception in 1996, TPM has been criticized for its role as a true technology park agency, although it claims it has helped more than 3,000 technology-driven companies.
One criticism was that its 276.4 ha of land has been underutilized to accelerate technology and innovation, with TPM playing more of a real estate developer role since its inception, which Dzuleira did not dismiss.
âUnfortunately, that was right. The role of technological development has somewhat lost its importance and over time it has become known as landowner.
âWe are trying to change the strategy and the perception and we are fully aware that this is necessary. The new mandate also goes in this direction. We no longer want to be known as a landowner, but we want to be known as an integrated tech developer who provides infrastructure content support and incentives so that as a tech park you are a one stop shop for all. This is an important strategy for the future of TCA. That’s the plan, âshe said.
Dzuleira added that while Malaysia has one of the highest levels of manufacturing output in the world, the country actually lags behind other countries in terms of employee productivity, R&D and manpower. higher education graduate work.
She said Malaysia faces a slow adoption rate of IR 4.0, with only 15-20% of companies actually adopting it.
According to data from the Malaysia Venture Capital Association, there are currently nearly 2,000 technology companies in Malaysia.
The government, through the myDigital Blueprint, aims to double the number of start-ups to more than 5,000 by 2025.
Along with TCA, Dzuleira said the new agency – which will be named and branded later, will also consider the transfer of incubation partnerships held by other agencies under Mosti.
“The overall strategy remains to be determined as we need to align ourselves between all functional units of government,” she added.
Rest assured, Dzuleira said the new TCA should be able to perform similar functions as the Malaysian Investment Development Authority (MIDA), but for technology and innovation hubs.
âWe will provide the support, incentives, investments and infrastructure necessary to support commercialization as well as capacity building. “
The TCA will also work closely with MIDA to unlock the necessary incentives for Malaysian technology exports to grow, Dzuleira said.
Regarding the number of investors TPM or TCA plan to attract, Dzuleira said the agency has yet to finalize the figures due to the Covid-19 crisis which has slowed business development activities.
âWe are not able to organize site visits and physical due diligence on the facility, and perform some work due to the AGC, so there is a slight delay. We hope to conclude activities when the Covid-19 situation becomes more manageable.
“Maybe by the second half of the year we will be able to conclude these activities,” she said, adding that another goal of TPM now was to identify mechanisms to help. those affected.d starts due to the Covid-19 pandemic.