Monash University Malaysia launched its subsidiary Monash Malaysia R&D Sdn Bhd (MMR&D) in an event titled ‘University Industry Collaboration: A Catalyst in Powering an Innovation Economy’, which aims to create a bridge between academia and the industry.
Being an approved R&D status company by the Malaysian Investment Development Authority (MIDA), MMR&D strives to influence and impact organisations in Malaysia to invest in research and development that will enable Malaysia to be an innovation-driven economy.
Additionally, it aims to develop and provide leading-edge research and development expertise to industries and organisations, while also discovering innovative solutions that enhance their global competitiveness.
“If we want to progress, we need to constantly enhance our capabilities to innovate. The best way to innovate is through R&D. We are pleased to be a MIDA approved R&D Status company as it puts us in good stead, giving us the opportunity to work with SMEs, MNCs, GLCs and other players in Malaysia,” said Professor Mahendhiran Nair, Chief Executive Officer of MMR&D.
Meanwhile, Dato’ Azman Mahmud, CEO of MIDA stated: “Companies across a wide range of industries in Malaysia stand to gain from the R&D expertise offered by MMR&D. We urge more companies, particularly the small and medium sized companies to leverage on R&D establishments like MMR&D and explore new areas of growth.”
Companies that appoint MMR&D will receive a double deduction on non-capital expenditure for research and development. This includes cash contributions, donations and payments for research. There will also be creation of IPs, patents, trademarks and other commercialisation opportunities. Apart from these, MMR&D will also offer workshops and training for industry and organisations in technical and non-technical areas.
“MMR&D will provide STEM related testing, industry-linked PhD programs, internships, work placements and experiential learning opportunities to create the next generation of talent for the economy. This in turn ensures that there is continuous growth of corporate R&D and innovation in the country,” Professor Mahendhiran added.