Kuala Lumpur, 17 November 2016 – Bioeconomy Corporation is looking to increase the commercialisation rate of local research and development (R&D) products via BioPartnering, in line with the Malaysia Commercialisation Year 2016 (MCY). Through the BioPartnering programme, Bioeconomy Corporation provides a business-networking platform for the bio-based industry players to source for one-stop R&D and commercialisation solutions, thereby bridging the gap between R&D and commercialisation.

Acting Chief Executive Officer, Tuan Syed Agil Syed Hashim said, “We need to increase the commercialisation rate of our local R&D innovations to meet the growing global demand for high quality and safe bio-based products. In this respect, BioPartnering supports the R&D and commercialisation needs of industry players by fostering partnerships between bio-based companies and BioNexus Partners (BNP) from universities, research institutes, and technology parks. By connecting and forging strong cooperation between these players, Bioeconomy Corporation will continue to support the bio-based industry in producing more industry and market-driven R&D products, hence contributing to Malaysia’s bioeconomy.”

Through BNP, Bioeconomy Corporation has built a network of over 50 laboratories and facilities all over Malaysia. BNP laboratories have offered more than 200 services and worked on more than 1,000 collaborations with industry players, producing more than 100 BNP experts in various clusters including the Agriculture, BioIndustrial and BioMedical sectors. In 2015, BioNexus Status companies have generated nearly RM275 million of revenues [NABY1] by utilising the BNP laboratories and units.

In his opening address during BioPartnering 2016 held at the headquarters of Bioeconomy Corporation, Syed Agil also expressed the need to implement more effective strategies to enhance coordination in research, development, commercialisation and innovation (R&D&C&I) activities, to increase R&D projects that are market-driven, to apply effective use of resources and to boost R&D and innovation in local companies. The event also witnessed the award presentation of the BNP status to 2 newly appointed partners, namely Phytopharmaceutical Development Laboratory of Agensi Nuklear Malaysia (NUKLEAR) and UNIPEQ Sdn Bhd, a spin-off from Universiti Kebangsaan Malaysia (UKM).

The BioPartnering event gathered bio-based companies including BioNexus Status companies, SMEs, entrepreneurs and researchers. The event is aimed at bringing together facilitation and support required by the bio-based industry players including technical and R&D&C facilitation with BioNexus Partners laboratories, the BioNexus Status and business advisory for the AgBiotech, BioIndustrial and BioMedical sectors, regulatory and product registration advisory as well as funding for R&D&C facilitation.