742 Applications, 100 Projects Funded, and Over RM87 Million in Sales Generated

SELANGOR, Oct 24 (Bernama) -- The National Technology and Innovation Sandbox (NTIS) marked its 3rd anniversary today, highlighting its ongoing mission to empower innovators, startups, and entrepreneurs across Malaysia. The event was officiated by the Deputy Minister of Science, Technology and Innovation, YB Dato’ Haji Mohammad Yusof Bin Apdal, and featured the launch of the PropTech Sandbox, an initiative in partnership with S P Setia.
 
Since its establishment in 2020, NTIS has been spearheaded by the Ministry of Science, Technology and Innovation (MOSTI) as a key pillar of Malaysia’s tech ecosystem. It has supported innovators in testing, refining, and commercialising new technologies by providing regulatory sandboxes, which allow for safe and efficient navigation of regulatory challenges. This approach has fostered a vibrant environment for technological growth, advancing Malaysia’s goal of becoming a technology-driven economy.
 
Over the past three years, from July 2020 to December 2023, NTIS has achieved significant milestones in supporting Malaysia’s innovation ecosystem. It has processed 742 applications, approved 100 projects for grants, and facilitated the distribution of RM80.84 million in funding to drive the development of cutting-edge solutions. As a result, 49 companies have successfully completed their projects, with 28 reaching commercialisation. Collectively, these efforts have generated RM87.28 million in sales. Additionally, NTIS has helped four companies penetrate international markets, achieving export values of approximately almost a million ringgit.

“NTIS has been instrumental in advancing MOSTI’s vision of transforming Malaysia into a high-tech nation by 2030,” said YB Dato’ Haji Mohammad Yusof Bin Apdal, Deputy Minister of Science, Technology and Innovation. He also emphasised that innovations developed through NTIS have had significant impacts across key sectors, including smart cities, healthcare, and agriculture, demonstrating Malaysia’s commitment to fostering technological growth.

Pioneering Solutions Across Sectors

NTIS’s achievements are underscored by success stories across various sectors:

● Smart Cities: Vectolabs Technologies Sdn. Bhd. developed a LoRa IoT Network in collaboration with Perbadanan Putrajaya, deploying a smart street lighting system in Presint 15, Putrajaya, setting a benchmark for future smart city initiatives.
● Healthcare: Health Digital Technologies Sdn. Bhd. revolutionised healthcare services with DoctorOnCall, a digital platform now implemented in hospitals, clinics, and pharmacies nationwide, with plans for international expansion.
● Smart Homes: Archtron Research & Development Sdn. Bhd. developed the Bluguard-AI platform, an IoT-based system poised for full-scale production, enhancing smart home technology and driving economic value.

Launch of the PropTech Sandbox: Pioneering Innovation in Real Estate

As part of the celebration, NTIS, in collaboration with S P Setia, launched the PropTech Sandbox Pilot Programme. This initiative aims to foster innovation in the property sector by promoting smart, sustainable, and secure building solutions. The PropTech Sandbox aligns with Malaysia’s goals of reducing greenhouse gas emissions by 45% by 2030 and achieving carbon neutrality by 2050.

Datuk Wira Dr. Hj. Rais Hussin, CEO of MRANTI, reiterated the organisation’s commitment to nurturing innovation. He emphasised that as the lead secretariat of NTIS, MRANTI will remain a vital enabler, offering crucial resources, strategic support, and collaborative partnerships to accelerate commercialisation and foster sustainable growth in Malaysia’s technology sector.

Prepared by
MINISTRY OF SCIENCE, TECHNOLOGY AND INNOVATION
24 Oktober 2024

SOURCE: MINISTRY OF SCIENCE, TECHNOLOGY AND INNOVATION

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--BERNAMA