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Image credit: might.org

KUALA LUMPUR, Feb 3 (Bernama) -- The Malaysian Industry-Government Group for High Technology (MIGHT) expects more local clean technology (cleantech) start-ups to participate in the Global Cleantech Innovation Programme (GCIP) this year as it opens doors for them to venture into new markets abroad.

Its President/Chief Executive Officer, Datuk Dr Mohd Yusoff Sulaiman said given the increasing interest in the cleantech industry, MIGHT targeted 50 companies to take part in the programme this year.

"We certainly can see the growing interest and that means we can see more coming out of the industry. And when you get your business right, you can market your products in overseas markets," he told reporters after the announcement of last year's GCIP winners here today.

Three GCIP 2016 national winners will represent Malaysia in the Cleantech Open Global Forum in Silicon Valley, San Francisco from Feb 6 to 10, 2017.

Neutrinos Engineering Sdn Bhd was adjudged champion, followed by Syngas Sdn Bhd emerged as the first runner-up and iCEE International Sdn Bhd in third place.

They will be competing against participants from South Africa, India, Pakistan, Turkey, Morocco, and Armenia, Mohd Yusoff said.

The Cleantech Global Forum Open provides an opportunity to the companies to interact with global and local investors and open doors to possible new markets, while competing to be crowned global winner in clean technology.

Mohd Yusoff said MIGHT lent its support to the GCIP Acceleration Programmer in scaling-up technoprenuers towards becoming regional and global industry players.

"In doing so, we will continue to engage both the public and private sectors in enculturating green practices and making them a norm among the society today, as well as for the industry to unleash new opportunities in the emerging circular economy," he said.

As a public-private partnership that drives the advancement of high-technology competency and capacity in Malaysia, MIGHT has collaborated with the Global Environment Facility (GEF), the United Nations Industrial Development Organisation (UNIDO), and the Ministry of Energy, Green Technology and Water to establish GCIP in Malaysia.

On the allocation for the programme, Mohd Yusoff said the industry has come a long way since its inception in 2014 and he had seen bigger allocations and incentives from MIGHT itself together with GEF and UNIDO.

"Given the vast opportunity in this field here, there is certainly room for cleantech to go far. We want to see more cleantech companies with a global mindset and scalability," he added.

Mohd Yusoff said it was important to raise awareness on clean technology as it was a lucrative sector offering great opportunities for Malaysian cleantech startups.

GCIP aims to scale up cleantech start-ups through the GCIP Accelerator by providing support ecosystem in areas of technology development, technoprenuership development, syndicated funding, and capacity building.

Source: http://www.bernama.com/bernama/v8/bu/newsbusiness.php?id=1326113