NILAI, 3 October 2015 – Ten Universiti Teknologi Malaysia (UTM) technologies have been selected to be commercialized through the UTM-MTDC Symbiosis Program worth RM 2 million each, making the total funding received to stand at RM20 million.
The programme aims to increase the number of technology-based start-ups and to equip reserachers with entrepreneurial skills.
Contractual agreement for commercialization of the technologies was signed by the Director of Innovation and Commercialization Centre (ICC) UTM, Professor Dr Amran Md Rasli and MTDC Director, Datuk Norhalim Yunus.
The signing ceremony took place in Nilai Spring Resort Hotel, and was witnessed by the Secretary General of the Ministry of Higher Education, Datuk Seri Dr Zaini Ujang.
The two year programme will be divided into five phases, where in the final phase participants will be given time to prepare a business plan proposal for their respective product or technology. Selected business plans will be offered the opportunity to form start-up companies.
All these companies will be placed under the incubator program to ensure the success of commercialization activities.