Accelerating Malaysian innovations to market - the Leaders in Innovation Accelerator (LIA)
The UK government invests in the Newton Fund, a programme classed as official development assistance (ODA). Its aim is to develop science and innovation partnerships that promote the economic development and welfare of collaborating countries. From Oxentia’s work within Newton countries, both within and outside of the Newton Fund Programme, it has become clear that one of the key barriers to the further commercialisation of public-funded research assets is a lack of ‘Proof of Concept’ and early-stage investment funding.
As part of the follow-on activities of the Royal Academy of Engineering managed Leaders in Innovation Fellowships (LIF) programme, Oxentia has worked closely with the Academy to design and implement a pilot programme in Malaysia to take innovators from the country, and prepare them through a selection process, boot camp, and 12-week mentored support programme, to be ‘investment ready’. The programme culminated in an Investment Pitching day to local and UK-based investors, who attended in person and through video link.
So far two companies have already received investment as a result of the programme; Padee Tech Sdn Bhd invented a rice seedling tray, a modern and affordable technology to improve agriculture productivity in the developing world which secured $200,000 from the Islamic Development Bank’s Engage and the Transform Fund. Twin Catalyst Sdn Bhd is commercialising “the world’s first 3D adhesive barrier dressing” and is in discussions with two Chinese companies for licencing and collaboration opportunities for applications such as newborn umbilical cord care.