Malaysian Reserve, October 10, 2007

Mentor scheme for local biotech firms

By JASON NG

MALAYSIAN BiotechnologyCorp Sdn Bhd, a subsidiary of the Ministry of Finance, yesterday launched its Executive-In- Residence (EIR) programme to develop human capital in the biotechnology industry through training and education.

CEO Datuk Iskandar Mizal Mahmood said the programme would train 240 entrepreneurs in the field of biotechnology over the next three years, to create at least 10% successful ventures. Under
the Ninth Malaysian Plan, a total of RM40 million has been allocated for the mentoring programme.

“The main objective of the EIR is to scale up the capabilities of the companies to a certain level,” he said at the launch in Kuala Lumpur.

He added that the programme would focus on accelerating the creation of new companies involving biotechnology and life sciences researchers, professionals and other qualified individuals.

Each EIR would be focused on mentoring five companies at any one time, he said, adding that the company would be appointing another EIR by year-end, possibly with expertise in the healthcare or agriculture industry.

The first EIR appointed is Robert H Mayer, CEO and chairman of Genencor International Inc, who has been in the industry for over 30 years.

“Initially, we want to focus on candidates who have the best chance of success and can benefit from my experience,” Robert said.