KUALA LUMPUR: The Fourth Industrial Revolution Innovation Hub (4IR), developed at the Malaysian Research Accelerator for Technology and Innovation (MRANTI) Park, is expected to benefit 1,250 business owners this year.

Science, Technology and Innovation Minister Datuk Seri Dr Adham Baba said the initiative was also targeted to help 5,000 would-be entrepreneurs through exposure to 4IR technology, as well as help 50 companies build prototypes of their products.

He said the project to upgrade MRANTI Park to a 4IR Innovation Hub is aimed at creating a platform for entrepreneurial development and a commercialisation centre to encourage innovation among micro, small and medium enterprises (MSMEs).

It also focuses on providing experimental laboratories to assist MSMEs or start-up companies to carry out prototype activities, as well as providing capacity and capability development aids on an ongoing basis.

Dr Adham said the 4IR-themed innovation centre, MRANTI MakersLab, which was launched here today, was one of the government's initiatives to guide entrepreneurs comprehensively from the prototype development process to product commercialisation.

"Recognising the fact that there are no comprehensive facilities has resulted in a gap between the availability of initiatives offered and the commercialisation process undertaken.

Dr Adham said MRANTI MakersLab was set up to provide a dedicated space equipped with testing and training facilities to enable innovators to conduct product test drives, as well as technologies that require field testing.

MRANTI Makerslab, which currently has an area of 0.018 hectares (ha), will be increased to 0.046ha by this November.

It provides services covering drone technology design and prototyping, innovative 3D printing courses and 4IR (additive manufacturing) flexible manufacturing systems as well as bio-science technology.

-- BERNAMA