Kuala lumpur: Malaysia must expedite the integration of innovation into enterprise adoption to enhance productivity and national competitiveness, driven by a burgeoning technology startup ecosystem and increasing digital readiness. Science, Technology and Innovation Minister Chang Lih Kang emphasized the importance of corporate innovation as a key driver in shaping supply chains, setting industry standards, and accelerating the market entry of new technologies.
According to BERNAMA News Agency, Chang highlighted the critical role corporations play as engines of scale in his keynote address at The BIG Programme: Corporate Innovation Forum, organized by Cradle Fund Sdn Bhd. He noted that when corporations lead in innovation, entire ecosystems benefit and accelerate. The minister pointed out that the Ministry of Science, Technology and Innovation (MOSTI) is actively reshaping corporate engagement with innovation, encouraging them to be active partners in technology adoption rather than passive observers.
Chang addressed the challenges posed by traditional procurement models, risk frameworks, and onboarding timelines, which are often designed for stability and can hinder progress in a rapidly evolving technological landscape. He suggested that by rethinking corporate engagement with startups and emerging technologies, barriers can be overcome, leading to accelerated market access and manageable innovation risks.
The minister added that corporate engagement with startups is increasingly driven by the confidence to experiment and scale technologies, supported by structured facilitation and clearer risk-sharing frameworks. This approach allows for faster decision-making and movement beyond pilot projects, bridging the gap between innovation readiness and procurement readiness.
Chang noted that the impact is already evident, with corporations taking the lead as first movers, committing resources and leadership attention locally rather than waiting for technologies to mature overseas. For MOSTI, this signals a shift where innovation is viewed as a strategic investment in resilience, competitiveness, and long-term growth, essential for Malaysia's relevance in a technology-driven global economy.