KUALA LUMPUR, Feb 21 — Malaysia should set a target to raise its ranking in the Global Innovation Index from 35th place in 2016 to be among the top 20, said Minister in the Prime Minister’s Department Datuk Seri Nancy Shukri.

She said the ministry preferred to aim higher as international perception improved, subsequently, Malaysian products would become more marketable.

The minister said the immediate target was to boost Malaysian capabilities, to generate innovation and work together to make innovation part of the local culture.

"Whether it is a medium or long-term target, the raising of innovation is always an ongoing process that will continue well into the future.

"Positioning our youths for the job ahead is an undertaking we are taking as an investment,” she said at the launch of the one-on-one consultancy and memorandum of understanding (MoU) signing agreement between Steinbeis Malaysia Foundation and Innovation and Technology Managers Association here today.

To help small and medium entreprises (SMEs) in acquiring industrial certification, Steinbeis Malaysia would conduct a 30-minute consultancy programme for each of the 44 SMEs that attended today’s event.

Nancy said improving Malaysia’s ranking in the Global Innovation Index was one of the aspirations of the Transformasi Nasional 2050 (TN50) plan, which has innovation and creativity as its key areas.

"The TN50 is our commitment to address the challenging and fast-paced economic climate, where research and innovation plays a critical role in the nation’s growth,” she said.

Nancy said the innovation agenda was a key driving force for Malaysia and the government was committed to invest in potential knowledge generation and commercial acumen for creating new wealth from Malaysia’s pool of intellectual property.

"Always look for the gaps between research work in academia and its translation into marketable products.

"The awareness to always close the gaps between knowledge and marketability, is the wisdom that will tie our networks and grow our relationship in collaborations across the ecosystem,” she added.

Steinbeis Malaysia is a non-profit organisation established through an initiative of the Innovation Agency of Malaysia. — Bernama