Bringing science and development together through news and analysis

  • Malaysia to launch US$26 million biotech fund


The government of Malaysia is setting up a 100 million ringgit (US$26 million) fund to support biotechnology research and development.

Jamaluddin Jarjis, minister of science, technology and innovation announced the plan last week (29 April) at the BioMalaysia 2005 conference in Putrajaya.

The Malaysian Biotechnology Corporation, set up last week to support and advise biotechnology-related businesses, will distribute part of the money.

The corporation is due to begin operating this week and is ready to receive funding applications, according to Bernama, Malaysia's national news agency.

Jarjis's announcement came the day after Malaysia's prime minister Abdullah Ahmad Badawi unveiled the country's national biotechnology policy (see Malaysia launches big push for biotechnology).

In his speech, Badawi highlighted the potential for biotechnology to improve health, increase food security and protect the environment. He said Malaysia was noted for its skilled workforce, strength in research-based industry, and excellent infrastructure.

But to take advantage of these strengths, he said, Malaysia had to create "the right environment for biotechnology to flourish".

"We have to assist those with the expertise to carry out biotech-driven research and development or to develop biotech-driven businesses, or as is often the case today, to do both," said Badawi.

He pointed out that biotechnology relies on research in public institutions and that government support for the sector was essential.

"Resources must be provided to support biotech ventures at all stages of development," said Badawi. "The journey between discovery and cash flow is a long one, sometimes longer than the patience of private sector investors."
We encourage you to republish this article online and in print, it’s free under our creative commons attribution license, but please follow some simple guidelines:
  1. You have to credit our authors.
  2. You have to credit SciDev.Net — where possible include our logo with a link back to the original article.
  3. You can simply run the first few lines of the article and then add: “Read the full article on SciDev.Net” containing a link back to the original article.
  4. If you want to also take images published in this story you will need to confirm with the original source if you're licensed to use them.
  5. The easiest way to get the article on your site is to embed the code below.
For more information view our media page and republishing guidelines.