The Ministry of Science, Technology, and Innovation said it hopes to get a higher allocation from the upcoming Budget 2023 so that it can commercialise research and development activities as well as drive startup companies.
Its minister Datuk Seri Dr Adham Baba said his ministry submitted a proposal via a consultation session with the Finance Ministry on Aug 31.
“We have submitted various viewpoints, such as that the R&D element can no longer be at the fundamental stage and that it must now be at the commercial stage. We must transition to that of a producing country instead of a consuming one as new technologies can provide jobs to the people. So, I have brought up the issue that new technology startup companies be given space next year to make progress on their R&D,” he told reporters after a Keluarga Malaysia Merdeka event here yesterday night.
Dr Adham, who is also a member of parliament for Tenggara, said MOSTI has also been asked by the Finance Ministry to reorganise its strategies to ensure it receives a higher allocation.
