Saturday, September 29, 2012

Budget 2013 Goodies for Innovation based Industries

PM Najib has announced the following goodies for innovation based industries:
1. Frawework to enable Intellectual Property to be used as Collateral for Financing
An IP Financing Fund scheme amounting RM200mil is offered through Malaysian Debt Ventures Bhd. The government will provide a 2% interest rate subsidy and guarantee of 50% through Credit Guarantee Corp Malaysia Bhd
2. Creation of IP Valuation Training and Market Platform
Allocation of RM19million through MyIPO to train local IP valuers and create platform for market of intellectual property
3. Emphasis of high impact research in Research Universities
Allocation of RM600million to five research universities
4. Tax incentive for commercialization of non-resource based findings
The current tax incentive for commercialization of resource based findings is extended to commercialization of non-resource based findings. The tax incentives allow any company, which invest in a subsidiary company that commercialize R&D findings of local universities or research institution, to be given deduction based on total investment made in the subsidiary. A tax exemption of 100% for 10 years can also be enjoyed by the subsidiary company.
5. Angel Investors
A deduction equal to the amount of investment made by angel investors to be set off against his income
6. Green Technology Financing Scheme
An allocation of RM2bil for the development of green technology
7. Inclusive Innovation Development
Initiative to be taken by Ministry of Science, Agensi Inovasi Malaysia and non-governmental organizations to plan and implement knowledgeable, creative and innovative activities.

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