Kuala Lumpur, Nov 14, 2014 – BioNexus status companies are emerging as a significant contributor to Malaysia’s Bioeconomy bringing in RM4.4 billion in investments. Since the inception (of the BioNexus status program) in 2007, a total of 240 local and foreign biotechnology companies were awarded the BioNexus status, successfully creating a niche market with commercialized products.

Malaysian Biotechnology Corporation (BiotechCorp) is spearheading the country’s Bioeconomy agenda through the implementation of Bioeconomy Transformation Programme (BTP), in accordance with national efforts to become a high-income developed country by 2020. The Bioeconomy Transformation Programme and Bionexus companies will be the focal point of discussion at the upcoming BioMalaysia & Bioeconomy Asia Pacific 2014 conference and exhibition. This will be discussed further at BioMalaysia with the stakeholders and participants of the conference.

As of 2010, Bioeconomy as a whole contributed up to 13.4 percent of the total Malaysian Gross Domestic Product (GDP), equivalent to RM106.7 billion. Based on projections of a 15% stimulated growth rate, the Bioeconomy GDP is estimated to increase to RM149.1 billion by 2020 and RM181.2 billion by 2030.

Bioeconomy remains as an important agenda in the 12th edition of the BioMalaysia & Bioeconomy Asia Pacific 2014. The event has established itself as one of the key meeting points for industry professionals in the region for the birth of fresh ideas, practical solutions and effective collaborations for global and Malaysian biotechnology industry participants.

Themed “Partnership for Innovation, Investment & Growth for the Bio-based Industry”, the event is set to encourage partnerships to spur innovation and growth in the bio-based sector, with the aim to position Malaysia as a Bioeconomy powerhouse in the foreseeable future.

“This year’s BioMalaysia & Bioeconomy Asia Pacific event is designed to promote innovative development, partnership, economic reform and employment opportunities. The discussion will be centred on the latest innovation and commercialisation issues in bioeconomy including strategies, value chains, impact and investment opportunities to further strengthen our economic growth. The event is also focusing on the development of competent talent pool and employment opportunities to drive the nation’s Bioeconomy agenda,” said YB Datuk Dr. Ewon Ebin, Minister of Science, Technology and Innovation.

BiotechCorp’s Chief Executive Officer, Dato’ Dr. Mohd. Nazlee Kamal said, “Shaping effective partnership is critical to the success of the bio-based industry, and this will be the main topic of interest for this year’s event. The event underscores the importance of collaborations between the academic institutions and industry players, and establishes a unique platform for them to network and form partnerships throughout the value chain of the bio-based industry.”

A key highlight at this year’s conference will be the BioCareer event. BioCareer will feature interactive biotechnology career showcase and career coaching with unique career networking opportunity for graduating students to make valuable connections with companies representing various fields in the bio-based sector. The participants will have the opportunity to interview for open positions, listen to free educational seminars and network with companies to discuss possible career options and requirements. It is anticipated that 500 graduates will be participating in the event.

BioMalaysia and Bioeconomy Asia Pacific 2014 Conference & Exhibition will be held from 19 – 20 November 2014 at the University of Malaya Research Management and Innovation Complex, Kuala Lumpur. Jointly organised by the Ministry of Science, Technology and Innovation (MOSTI) and Malaysian Biotechnology Corporation Sdn Bhd (BiotechCorp), the annual conference and exhibition is expected to showcase presentations, new product launches, product demonstrations and business partnering sessions.

Please visit BiotechCorp’s website at www.biotechcorp.com.my for more details and updates on the event.