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Malaysia consolidates two tech-related government agencies TPM, MaGIC

Malaysia consolidates two tech-related government agencies TPM, MaGIC The KL Tower is seen, with a background of the cityscape in Kuala Lumpur, Malaysia. April 21, 2021 Two of the government agencies under Malaysia’s Ministry of Science, Technology and Innovation (MOSTI) will be restructured through a consolidation process that will create a new technology commercialisation agency. This new mandate, which was approved by the Cabinet on Wednesday, will act as a technology commercialisation accelerator, the ministry said in a statement. The synergy will bring together Technology Park Malaysia (TPM) and the Malaysian Global Innovation and Creativity Centre (MaGIC). TPM is the only 4th generation technology park in Malaysia with physical incubators and tech infrastructure, while MaGIC has played an important role in cultivating technology startups and innovation ecosystem with a wide range of interventions ranging from regulatory facilitation, market access support as well as ca

Mosti consolidates TPM, MaGIC

Mosti consolidates TPM, MaGIC PETALING JAYA: The Science, Technology and Innovation Ministry (Mosti) is consolidating its two agencies Technology Park Malaysia (TPM) and the Malaysian Global Innovation and Creativity Centre (MaGIC) to create a new technology commercialisation agency to accelerate Malaysia journey towards an innovation-driven economy. The restructuring exercise, which was approved by the Cabinet today, will combine TPM’s capabilities as a physical incubator and tech infrastructure with MaGIC’s role in cultivating tech startups and innovation along with its regulatory facilitation, market access support and capacity-building capabilities. With the initiative, the ministry aims to be better equipped to address issues such as low commercialisation rates, low gross domestic expenditures on R&D, low R&D spend by the private sector, and overlapping of roles between government agencies.

MOSTI To Consolidate Technology Park Malaysia and MaGIC Into A Single Agency

Ministry of Science, Technology, and Innovation (MOSTI) to combine Technology Park Malaysia (TPM) and the Malaysian Global Innovation and Creativity Centre (MaGIC) into a single agency. According to Minister Khairy Jamaluddin, the new agency will be focusing on accelerating innovation and technology commercialization. ADVERTISEMENT While the new agency has yet to be given a name by MOSTI, it will be led by the CEO of TPM, Dzuleira Abu Bakar who herself has just been transferred from MaGIC last week. She was originally appointed as the CEO of MaGIC back in 2019 and prior to that, she was leading the Cradle Seed Venture for two and half years.

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