Government Allocates RM2.889 Billion For R&D, Technology Development And Innovation In 9MP

KUALA LUMPUR, May 14 (Bernama)-- The emphasis on research and development, technology development and innovation by the government, has resulted in RM2.889 billion being allocated for 4,300 projects under the Ninth Malaysia Plan (9MP).

The Minister of Science, Technology and Innovation, Datuk Seri Dr Maximus Johnity Ongkili who disclosed this said, the interest towards developing an innovative and creative society, has been very encouraging.

He added that his ministry under its various fundings, has received a total of 10,376 applications, to develop ideas and creations.

He was also encouraged by the turnout at the 21st Invention, Innovation and Technology Exhibition (ITEX 2010) which began Friday and ends on May 16.

The event has seen a 30 per cent increase in participation with 50 organisations comprising institutions of higher learning, research institutes, the corporate sector as well as individuals, and over 673 inventions in 24 categories, being showcased.

Maximus, in his speech at the opening of ITEX 2010, said in order to move up the economic ladder, Malaysia had to focus on total innovation.

"Innovation has no limits.It is infinite and opens up more opportunities for us. The country depends on us, as an innovative community, to contribute in achieving the desire to become a high income economy," he added.

The ITEX 2010 is being held at the Kuala Lumpur Convention Centre (KLCC) and is organised by MINDS (Malaysian Invention and Design Society).

Maximus also witnessed Friday the signing of two memoranda of understanding (MOU).

The first was between MINDS and Yayasan Inovasi Malaysia (YIM) to promote innovation among the people of Malaysia,

The second signing was between the Asian Caucus of Invention Association (ACIA) and the Southern Taiwan University in collaboration with the Taiwan Invention Products Promotion Association (TIPPA).

Apart from locals, ITEX 2010 has also participation from Russia, Iran, Korea, Taiwan, Hong Kong, Thailand and Vietnam.

The exhibition bridges investors and inventors with the idea of commercialising an invention, which can be brought to the market place.

This will enhance the development, utilisation of inventions, designs and also maximises the exposure of award winning products and technologies.

The ITEX 2010 theme is, "Creativity: The Pathway to Innovative Economy".