|Pelan Jana Semula Ekonomi Negara|
Information about the National Innovation Sandbox (NIS)
When will applications open for the National Innovation Sandbox?
Applications will be open from the 1st of July onwards but the application evaluation process will start in September 2020
What are the main benefits and support that will be received from the Sandbox?
Accelerate technology adoption by multi-industry:
● Regulatory operationalisation programmes
● Facilitation / review of regulations and laws
● Market access
● Testbed and test environment facilitation
● Reskilling and upskilling initiatives
● Capacity building programmes
● Enabling initiatives
What kind of products, technologies, solutions, and R&D should go into a Regulatory Sandbox?
Solutions that operate in a 'grey area' or are not under clear purview of any existing regulation or law. This would mean products, technologies, solutions, and R&D that do not have any clearly defined rules and regulations and are facing issues with regulators with regards to commercialisation due to regulatory barriers as there are no clear guidelines on how to operate.
Who are the regulators?
Government departments or agencies who oversee regulations and laws that oversee a certain industry.
Who are the NIS implementation agencies?
● NIS is spearheaded by the Ministry of Science, Technology and Innovation (MOSTI), with support from MaGIC, TPM and MIMOS as the NIS secretariat to enable and coordinate the rollout. ● Additionally, the NIS will be supported by the private sector industry players such as corporations, MNCs, SMEs and many more
What is the benefit of the NIS to startups and companies?
The Sandbox will help alleviate the challenges with regards to commercialising new technology in Malaysia. It will create a more structured testing and implementation. The NIS will create a structured framework for the latest innovations to be tested in a controlled environment. This will reduce the barrier to entry for the latest innovations to be commercialised
What does the commercialisation of a product mean?
The commercialisation of a product means converting a product or solution from the R&D stage to a commercially viable product which is able to generate income.