Futurise has welcomed the complementary NTIS initiative to further invigorate Malaysia’s PENJANA plan.
“It’s our DNA that we work with startups and it’s ecosystem within the innovation space. We are excited to be part of the Technology Innovation Sandbox working on a very important vocation, which is the Regulatory part of the initiative, in our effort to contribute in regenerating the Malaysian economy via new inventions and innovation.”
“The National Regulatory Sandbox (NRS) & The National Technology & Innovation Sandbox (NTIS) are well positioned to encourage more homegrown innovation and solutions to be commercialised through required & applicable regulatory intervention,” said Mahadhir Aziz, chief executive officer of Futurise.
Regulations have always been a big part of the hurdles which can be around technology and business models. The National Regulatory Sandbox (NRS) was launched back in 2018 where Futurise was given the mandate by the Government to drive the initiative to explore innovation-friendly regulatory approaches.
Bringing the various stakeholders together under the NRS allows innovators to engage with regulators while focusing their energy and resources on finding a market fit for their product and validating business models.
This is another initiative that Futurise is looking forward to working on with the startups immediately. To date, Futurise is working together with the Civil Aviation Authority of Malaysia (CAAM), various agencies and industry players to test innovations in drones as well as produced Autonomous Vehicles Trialing Guidelines in Cyberjaya with the Ministry of Transport of Malaysia for autonomous vehicles testing on public roads.
Mahadhir also added that Futurise is looking forward to working with the Ministry of Science, Technology and Innovation (MOSTI) and its agencies on the initiative to encourage innovation and new inspiration that can propel not only the digitisation of service delivery but also other aspirations.