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Universiti Sains Malaysia (USM) provides RM2 million for University Innovation Fund (Innovation Seed Fund) to enable researchers to continue research programs with potential for commercialization.

USM Vice Chancellor, Prof. Dato Omar Osman said that researchers in the USM Innovate program will be provided with a total of RM50 thousand for every completed research project.

He said the evaluation panel will screen applications from researchers to obtain the funds to help them finance the cost of pre-commercialization, including working with the industry.

"Even if the value is not very big, it is seen an effective step in helping researchers overcome their problems in extending the product to the commercial stage,'' he said in a press conference today.

The press conference celebrated the 14 researchers who returned with eight gold, four silver and two bronze medals from exhibitions and competitions at the Malaysia Technology Expo (MTE) 2012 held at Putra World Trade Centre (PWTC), recently.

Omar added that many researchers had to stop halfway in commercialization activities because no special funds are available to help them carry out specific processes required.

He said researchers need additional funds to carry out the pre-commercialization activities such as traveling, papers, organizing workshops and consultations with other experts in the field..

"This is not an automatic grant and researchers need to apply and to get them through the selection phase. Not all products will end up being commercialised because some of them return to the university for use in teaching and learning process and further research by postgraduate students,'' he said.

Associated websites:

• Universiti Sains Malaysia