MOSTI hopes for more allocation to commercialise R&D, drive technology startups
MOSTI hopes to get a higher allocation from the upcoming Budget 2023 so that it can commercialise research and development (R&D) activities as well as drive startup companies, its minister Datuk Seri Dr Adham Baba said. - BERNAMA
KOTA TINGGI: The Ministry of Science, Technology and Innovation (MOSTI) hopes to get a higher allocation from the upcoming Budget 2023 so that it can commercialise research and development (R&D) activities as well as drive startup companies.
Its minister Datuk Seri Dr Adham Baba said his ministry submitted a proposal via a consultation session with the Finance Ministry on Aug 31.
"We have submitted various viewpoints, such as that the R&D element can no longer be at the fundamental stage and that it must be at the commercial stage.
"We must transition to that of a producing country instead of a consuming one as new technologies can provide jobs to the people.
"So, I have brought up the issue that new technology startup companies be given space next year to make progress on their R&D," he told reporters after a Keluarga Malaysia Merdeka event here last night.
Dr Adham, who is also a Member of Parliament for Tenggara, said MOSTI has also been asked by the Finance Ministry to reorganise its strategies to ensure it receives a higher allocation.
Budget 2023 will be tabled in parliament on Oct 7.
-- BERNAMA
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