Malaysia can expect more home-grown inventions as scientists and researchers will be given financial remuneration for their creations and findings.
Starting this month, those who carry out research and development funded by the Government will be paid RM15,500 if their work is approved and patented.
Creators will also receive benefits in the form of profit-sharing from the commercialisation of their products or technology, and be given equity in spin-off companies which will be set up.
Science, Technology and Innovation Minister Datuk Dr Maximus Ongkili said the move was in line with the introduction of a policy to commercialise intellectual property to motivate researchers, scientists and institutions to be involved in research and development to create new technology.
“We want to produce a conducive environment that will continuously encourage new innovations and findings.
“As it is, the level of intellectual property being commercialised is at a very low rate of 3.4% but we hope to double the percentage as we enter the 10th Malaysia Plan,” he told reporters after launching the policy yesterday.
Under the policy, each disclosure of invention will receive RM500 and the creator will receive an additional RM5,000 for each creation filed. Those whose work is approved and patented will be paid an incentive of RM10,000.
Dr Ongkili said creators whose products and technologies were commercialised would receive RM250,000 as initial profit.
He said that with the various incentives, Malaysian R&D creators have the potential not only to make a name in their respective fields but may also be millionaires from successful ventures.
Dr Ongkili said his ministry would formulate the national innovation policy that would help determine the country’s future plan in the fields of technology, creation, findings and innovation.
“We hope to have a draft ready by next year,” he added. -theStar
This is a great news.. I shall inform my friends in science forum.
Thx for sharing the news..
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