In 2005, the Malaysian Government recognized biotechnology as one of the key strategic drivers that will propel the nation’s social and economic development to greater heights. To propel this new domain, the Government created the National Biotechnology Policy (NBP) and BiotechCorp, a dedicated biotechnology agency.
Based on the NBP’s objectives and guidelines, BiotechCorp acts as the chief driver for biotechnology development by providing strategic direction, operational assistance for businesses and developing specialized infrastructure.
The Nine Thrusts of the National Biotechnology Policy are:
BiotechCorp, an agency under the purview of Ministry of Science, Technology and Innovation (MOSTI), is
- Owned by the Minister of Finance Incorporated & Federal Lands Commissioner
- Governed by the Biotechnology Implementation Council
- Advised by the Biotechnology International Advisory Panel, both chaired by the Honorable Prime Minister of Malaysia.
BiotechCorp is responsible for executing the objectives of the National Biotechnology Policy (NBP) and acts to identify value propositions in both R&D and commerce and to support these ventures via financial assistance and developmental services.
BiotechCorp’s key mandates are as follows:
- Act as a one-stop-center
- Nurture and accelerate growth of Malaysian biotechnology companies
- Actively promote foreign direct investments in biotechnology
- Create conducive environment for biotechnology