KUALA LUMPUR: The National Technology and Innovation Sandbox (NTIS) and National Regulatory Sandbox (NRS) are creating a comprehensive innovation platform to help startups and small and medium enterprises (SMEs).
Futurise Centre chief executive officer Mahadhir Aziz said through the platform, digital and technology transitions can be done seamlessly, while the testing for innovation effectiveness could be done in a controlled environment.
He said this could better assist SMEs in understanding a new technology and at the same time test it effectively.
Indirectly, it would increase digital awareness among the public and encourage the creation of new technology solutions, he added.
"For instance, Futurise is partnering with the Civil Aviation Authority of Malaysia and several agencies and industry players to test drone technology.
"This is important to ensure the public's acceptance of the digital transition through drone delivery and self-driving testing."
Mahadhir said Futurise was leading and involved in managing the NRS' main programme, under the NTIS initiative, which was an important element in the development of new innovations. He said under the initiative, Futurise's role is to implement relaxation in regulatory requirements and guidelines to test new technologies.
He said NRS and NTIS were well positioned to drive more technological innovations and commercialisation of solutions through relaxation of existing regulations required by targeted industries.
"Changes or certain relaxation to the existing regulations are important for Malaysia to achieve the status of a technology-producing country in line with the government's mission and vision.
"Through the Penjana economic recovery plan, we are mandated to lead the NRS to create a controlled environment for technology testing under the supervision of the monitoring authority.
"This sandbox regulation will help the government better understand the importance of technology and its impact on economic growth and human capital development."
Local SMEs, he said, could use the NRS and Futurity platforms.
Futurity is an online platform developed by Futurise to bridge the gap between industry and corporates with local universities, SMEs and entrepreneurs through innovative and commercialised projects and ideas, while meeting the needs of the local economy.
He said Futurise hoped that the Penjana initiatives would drive the country's economy through holistic and inclusive approaches.
Source: https://www.nst.com.my/news/nation/2020/06/602932/creating-comprehensive-platforms-help-startups-smes