Mimos urges Budget 2027 to accelerate local tech commercialisation

KUALA LUMPUR — Mimos has urged the government to prioritise the commercialisation of locally-developed technology in the upcoming Budget 2027, emphasising the need to bridge the gap between research output and market deployment. The state-owned technology research institute said continued investment in the innovation ecosystem must translate into tangible commercial products and services that can compete globally. According to Mimos, while Malaysia has made significant strides in research and development capabilities, there remains a critical need to accelerate the transition of these innovations into commercially viable technologies. The institute highlighted that Budget 2027 should include targeted funding mechanisms and incentives to support the scaling and commercialisation of Malaysian-developed tech solutions across key sectors. Mimos said such measures would strengthen the country's position as a technology hub in the region and create high-value economic opportunities for the nation.