USM research park pulls in RM20m investments

New Straits Times, June 21, 2008

USM research park pulls in RM20m investments
By Marina Emmanuel

UNIVERSITI Sains Malaysia (USM) has attracted RM20 million in capital investments from local companies which will operate at its new research park at Bukit Jambul on Penang Island.USM is set to ink memorandums of understanding (MOUs) with several companies tomorrow, which will include the government's investment arm Khazanah Nasional Bhd, Malaysian Biotechnology Corp Sdn Bhd (BiotechCorp) and Biotropics Malaysian Bhd.The sains@usm Bukit Jambul park will boast, among others, incubator laboratories, government-linked company research centres and those operated by multinational corporations, USM research and innovation division director Professor Zainul Fadziruddin Zainuddin said."The MOU with Biotropics (a company which is developing natural products) is for the setting up of a laboratory for standardisation of natural products for clinical trials, while BiotechCorp will be using the park to disperse nanotechnology to other universities in the country," he told Business Times.Zainul added that USM has also secured RM23 million worth of research commercialisation grants from the Malaysian Development Technology Corp, which will be used in part for start-up operations and pilot plants at the new park.In March this year, USM had purchased a 12.4ha plot at Bukit Jambul for RM59 million from IJM Properties Sdn Bhd.Zainul, who is set to head the development of the park, said that USM will set up a company to manage the research park, which will also boast a boutique hotel, convention and exhibition centre, performing arts centre and arts colony, along with retail space and apartments."We want to create an environment for local and international academia and businesses to interact and synergise," he said, adding that among the economic potentials of the park would be to foster innovation, technology transfer, commercialisation of technology, while serving as a springboard for new intellectual property creations.Zainul said while USM will seek public funding for some of the projects at the park, which will be carried out in three phases, other projects will be done via joint ventures.