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Universiti Malaysia Terengganu (UMT) has set the target of RM2.7 million of income for the year 2022.
The amount will come from the commercialisation of final products that have been patented through UMT’s start-ups and from collaborations with industry partners.
UMT Vice Chancellor Prof. Dato’ Dr. Mazlan Abd Ghaffar said the university currently owns about 600 intellectual properties.
“For 2022, UMT has successfully registered 106 intellectual properties where 81 were registered as properties, 17 as trade secrets, 3 as registered patents, and the rest as other types of intellectual properties.
“The 600 intellectual properties comprise patents, industry copyrights, innovative utilities, trademarks, and trade secrets.”
He said the products need to be marketed to reduce dependencies on government’s funds.
“The effort to boost commercialisation activities is needed to help the university earn incomes to handle management cost and reduce reliance on the government.
He said UMT has also signed a memorandum of understanding (MOU) to collaborate with several companies to boost commercialisation activities.
“Today, UMT’s Innovation and Commercialisation Centre (ICC) that is responsible for commercialisation of intellectual properties is signing an MOU with Khadijah International Waqf (L) Foundation (KIWF) to market honey-based products produced by UMT experts,” he said in his speech during the signing ceremony at UMT’s campus in Kuala Nerus.
“With the signing of the MOU with KIWF, UMT looks forwards to a having close working relationship to raise funds for commercialisation of other products as well, such as polychaete, artemia, horseshoe crabs.
During the ceremony, Prof. Mazlan announced that UMT has received a fund totalling RM143,000.00.
“KIWF and UMT researchers have obtained the fund from Felda Berhad for their first project, which involves pollination of palm trees using stingless bees. This is a one-year project,” he said.
Corporate Communications Office
Universiti Malaysia Terengganu