Commercialisation of Research Findings in Malaysia Article

Commercialisation of Research Findings in Malaysia - word Exampleient which need to be immediately taken into consideration in order to compete profitably in the global scenario (National Economic Advisory Council, New Economic Model for Malaysia).Furthermore, the study of science and engineering science is crucial for the growth and development of the industries as well as the entire nation. The emerge markets across the world, curiously in Asia are continuously striving to innovate and introduce new products and new services. Hence, for the firms in emerging markets such as India, China and Malaysia, it is important to make considerable investments in look and development (R&D) and effectively initiate R&D outcome at the marketplace for sustaining their competiveness against the developed market firms of America and Japan. At the same time, it is essential for the policy-makers of these emerging market countries to recognize origination and commercialization as virtuoso of th e life-sustaining issues which needs to be critically addressed for ensuring thriving economic performance (Lester, Universities, Innovation, and The competitiveness of Local Economies synopsis Report from the Local Innovation Project Phase I).. In the recent times, Malaysia and other create nations have engaged in following certain strategic approaches for effectively utilizing innovation as one of the sources for growth and development. Over the years, it has been apparent that Malaysia has firmly been focusing its efforts towards transforming itself as an innovation-based economy. Evidently, there has been dramatic shift in terms of information, knowledge and innovation in the past few years. Nonetheless, shift in creativity and innovation alone cannot be regarded as enough for maintaining competiveness in the highly dynamic socio-economical environment. Therefore, emphasizing on research and development and introducing research results effectively at the market is essential for remaining viable in the indicate highly competitive market.