BioMalaysia & Asia Pacific Bioeconomy 2016 captures innovative spirit with launch of BioNexus products.
Kuala Lumpur, 31 May 2016 – The 14th edition of BioMalaysia & Asia Pacific Bioeconomy 2016 kicked off with the launch of high value products by eight BioNexus status companies, further advancing the industry through commercialisation of bio-based innovations. The product launches include OrchidLife’s Labeesity for weight loss, Bio Tree Biotechnology’s Roots Lemon & Ginger Juice for health enhancement, Tropical Bioessence’s The SUTRA-FIG personal care products, Furley Bioextracts’ Feminine Mist for female hygiene, Persona Kosmetik’s Might Hair Shampoo for hair loss prevention, TIGERUS ® TIGGY Cocoa Chewable Tablets for children by Ligno Biotech Sdn Bhd, Astatude skincare products by Algaetech International Sdn Bhd and Proliv Natural Face Oil with essential oils by Proliv Life Sciences.
Reflecting the event’s theme, “Value-adding our Economy through Bio-Based Technologies”, the launch of the BioNexus products is in line with the Ministry of Science, Technology and Innovation’s (MOSTI) focus in driving bio-based products as sources of new economic growth for Malaysia. The launched products contribute to the Malaysia Commercialisation Year 2016 (MCY 2016), an initiative led by MOSTI to enhance commercialisation of up to 360 research and development (R&D) products by the year 2020.
“In exploring new commerce and competing in the global market, Malaysia is targeting more involvement of bio-based industries in the economy. Bio-based products like the ones launched today open up opportunities for Malaysia to leapfrog into high-growth areas of the world economy. The global health and wellness market is expected to grow at a CAGR of nearly 6 percent from 2016 to 2020, while the global cosmetic market is estimated to reach USD675 billion by 2020, growing at a rate of 6.4 percent,” said Deputy Minister of MOSTI, Datuk Dr Abu Bakar Mohamad Diah who officiated the product launch.
Chairman of BiotechCorp, Professor Tan Sri Zakri Abdul Hamid said that the products generated by BioNexus status companies can enhance consumers’ confidence in local products to promote national economic activity. “The products launched today certainly contribute in driving revenues to stimulate the country’s economic growth. The revenues generated by our BioNexus status companies have increased by 50 percent from 2012 to 2015, with a total of RM1.53 billion revenues recorded last year. With the products launched today, we are confident that the number will grow,” he said. He added that the launch highlights the quality of Malaysian bio-based products while offering consumers safe and cost-effective alternatives to foreign products.
Meanwhile, Chief Executive Officer of BiotechCorp, Dato’ Dr Mohd Nazlee Kamal said that the BioNexus product launch advances Malaysia’s bioeconomy agenda by accelerating the focus from commodity businesses to higher value products that are value-added by biotechnological techniques. “As we enter the era of the Fourth Industrial Revolution, we want Malaysia’s bio-based industry players to utilise the convergence of technologies such as biotechnology, digital technology, nanotechnology, or synthetic biology to generate novel products with innovative functionalities for new and existing markets. I hope this product launch and BioMalaysia & Asia Pacific Bioeconomy 2016 will inspire our local players to step up and mobilise their efforts in commercialising breakthrough innovations, which can open up a whole new dimension for Malaysia and the surrounding region.”
In addition to the product launch, other highlights of BioMalaysia & Asia Pacific Bioeconomy 2016 include the Technology Pitching Session, a platform for innovative researchers and small bio-based businesses to pitch their technologies to experienced business professionals, with the aim to commercialise or expand their businesses. Meanwhile, the third day of the event will see Bioeconomy Innovation Awards, which will honour universities, research institutions as well as BioNexus Status companies for their outstanding achievements in research and development of bio-based technologies.
BioMalaysia & Asia Pacific Bioeconomy 2016 will see participation of 200 exhibitors and 10,000 visitors. The event offers networking opportunities with international and local thought-leaders and decision-makers, providing the latest scientific and business updates from industry players, and the opportunity to meet potential partners through business matching programmes.
BiotechCorp wishes to announce that the organisation is not affiliated in organising or promoting any other biotech-related events happening during the stipulated date organised by any private entity.
For enquiries or more information regarding this matter, please contact The BioMalaysia 2016 Secretariat at firstname.lastname@example.org or 03-7770 8662. Please visit BiotechCorp’s website at www.biomalaysia.com.my and www.biotechcorp.com.my for more details and updates on the event.