INCEIF Signs MoU With MaGIC As Part Of The Malaysian Academy of Science Neutral Entities

Kuala Lumpur, 9 Nov 2021 – INCEIF today commented its participation in the Technology Commercialisation Accelerator (TCA) community with the signing of MoU with other fellow players and industry innovators.

INCEIF, under the umbrella of the Malaysian Academy of Science Neutral Entities, signed an MoU with MaGIC (Malaysian Global Innovation and Creativity Centre). Other Neutral Entities are Collaborative Research in Engineering, Science and Technology (CREST), Halal Development Corporation (HDC) and Nano Malaysia Bhd.

The MoU aims to encourage the transfer of technology from laboratories to industry which will lead to the commercialisation of intellectual property and research and development results from the academia. The signing ceremony was witnessed by Minister of Science, Technology and Innovation (MOSTI) Datuk Seri Dr Adham Baba.

At the event, MOSTI announced the formation of the Malaysian Research Accelerator for Technology and Innovation (MRANTI), through the merger of two agencies under MOSTI, Technology Park Malaysia and MaGIC. MRANTI is expected to operate next year in line with the country’s technology commercialisation catalyst agenda through the TCA in driving Malaysia’s economic growth through science, technology and innovation.

The main mission of MRANTI is to facilitate the process of generating ideas to the generation of impact through the creation, development and commercialisation of technology and innovation. The establishment of MRANTI under the TCA programme is in line with the strategy under the policy catalyst to develop the future workforce and accelerate the adoption of technology and innovation outlined in the 12th Malaysia Plan.

Through MRANTI, Return on Ideas or return from ideas generally refers to the exchange of knowledge to fiscal turnover. MRANTI was established as a technology and innovation launch platform to help enterprises, researchers and inventors maximize the return of ideas at a faster rate, by optimising synergies. In addition to offering capacity building programmes and assistance to penetrate the market, MRANTI would also offer prototype facilities and live test fields as well as other infrastructure facilities and services to researchers and innovators, MOSTI said.

In July this year, INCEIF was appointed as the Neutral Entity for i-Connect Fintech in Islamic Finance by Academy of Sciences Malaysia, under the purview of MOSTI. INCEIF is steering the consortium, consisting of 17 Founding Members who represent the industry, academia, government and civil society to catalyse innovations, nurture talent and develop home-grown high-value innovations in Fintech for Islamic finance.

INCEIF President & CEO Prof Dato’ Dr Azmi Omar said: “i-Connect will propel Malaysia to be the global Islamic Fintech innovation hub. By collaborating with MaGIC, ASM, MOSTI and other stakeholders, INCEIF aims to leverage on our collective resources to spur Islamic Fintech innovation in Malaysia and globally. This will enable Malaysia to leverage on new economic opportunities in disruptive innovation and prepare Malaysian industries to enter emerging global markets. As a thought and knowledge leader in Islamic finance, INCEIF is proud to be part of this national effort. Together, we would be able to develop home-grown high-value innovations in Fintech for Islamic finance by bridging the gap between R&D and business through knowledge-based innovations.”





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