KUALA LUMPUR (Aug 12): The Ministry of Science, Technology and Innovation (Mosti) is in the process of developing the Malaysia Innovation Index (MII) as a measurement method to support the need for planning strategies and interventions to improve innovation performance at the state level.

Its minister Chang Lih Kang said the initiative will further contribute to the country’s performance level in the Global Innovation Index (GII).

“The monitoring of such key performance indicators and initiatives will encourage all parties not only at the government level but also at the industry and academia levels.

"The involvement of the public is also important in terms of performing their respective roles to contribute to improving the country's position in the GII ranking so that Malaysia can stand on par with other developed countries," he said during the Malaysian Commercialisation Year (MCY) 2024 Summit here on Monday.

Mosti is also introducing a new initiative, the “Commercialisation Single Access”, which is a platform that acts as a one-stop centre that integrates databases of existing research results, he said.

Chang said the initiative will simplify and speed up operations, thereby improving the impact of commercialisation activities by agencies under the ministry.

In addition, he said Mosti has developed six policies and 12 roadmaps to ensure that the country’s technological sovereignty will provide a strong economic foundation based on high-growth, high-value products and technological chains.

"Based on the policy and roadmap launched, the overall estimated contribution of STIE (science, technology, innovation and economy) strategic sectors to national and global gross domestic product stands at RM9.21 trillion by 2030,” he added.

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