To make the award as an annual event to encourage innovators to keep on producing technologies or products to be commercialised so it will drive the nation’s economy.
1. Product that caters to social needs; and
2. Transformative social change through the application of innovative and practical approaches / technology to benefit society overall.
Winners receive support for:
- Design including physical design and packaging
- Accreditation, certification, a technology audit and market research
- Incubation including mentoring
- Advisory services related to product development, financial management and intellectual property; and
- Participation in local and foreign exhibitions.
The main winners each receive RM130,000, 50% in cash and 50% in facilitation services. Consolation winners receive RM50,000, also half in cash and the rest in facilitation services.
1. The agencies are required to set Special KPIs for the MCY.
2. Then, the agencies have to do proposals for the Special KPI Presentation Session.
3. Products and technologies across various categories will be commercialized every year through a synergistic approach across agencies including investment, promotion and capacity building agencies.
4. The endorsed Special KPIs will continue to be monitored for a period of time.
5. These agencies will present their progress report that will be decided later on.
6. To provide recognition and incentives to the best products / technologies, the highlight of Malaysia Commercialization Year will be held covering activities such as Product Awards, International Conference and Exhibition as well as Product Launches.