The Malaysian Biotechnology Corporation, or known by its shorter name BiotechCorp was established by the government of Malaysia and is wholly owned by the Ministry of Finance.
At the same time, the company’s operation is governed by the Biotechnology Implementation Council, while the Biotechnology International Advisory Panel becomes its advisory body. Both are chaired by the Prime Minister Dato’ Seri Abdullah Ahmad Badawi.
The setting up of the BiotechCorp was aligned to the country’s objective to nurture and grow the biotechnology industry, which is showing a lot of promise due to the country’s abundance of natural resources, and the potential of the life science industry. The diversity of natural resources, backed by strong industrial and manufacturing capabilities also give the country a competitive edge to elevate the biotechnology industry to a new level.
Together with BiotechCorp inception, the National Biotechnology Policy was formulated in 2005 to outline the niche for exploration and the government’s commitment in treating the life science industry as a serious matter.
The entity is also responsible to identify value added propositions that will enrich the biotech industry, in terms of commercial potential or research and development (R&D) work. Two major platforms offered by the Malaysian Biotechnology Corporation are financial assistance, grant or funding, and developmental services, giving aspiring entrepreneurs a wide opportunity to embrace biotechnology as their field of choice.