Updated on 21 May 2012
This program is being run in cooperation with BiotechCorp to add to its current support for these companies. The benefit for Eppendorf is that it will build a strong position in the country and the market. It will be in close contact with the growing companies of Malaysia that may have a strong future. It will be able to track their development and be in a position to tap their output which could be interesting for Eppendorf.
Though Eppendorf has its own R&D, it might be interested in any relevant technology for new product development coming out of these BioNexus companies.
Malaysia is one Asian country that has abundance of land and natural resources and lately it is pushing its local biotech industry innovators with strategies that few countries have planned. The first step that Malaysia took was to build a world-class infrastructure in the initial five years, since the launch of National Biotech Policy in 2005. Then the country started nurturing small start-up companies, categorizing them as BioNexus companies, a group of innovators in biotechnology. Multinational companies around the world, looking at low cost facilities and resources with high standards in Asia, have also shown their interest to invest in Malaysia. But foreign direct investment is not the only thing that Malaysia has on in mind. Through tie-ups, such as the one with Eppendorf, the country is opening itself to value-added relationships with existing investors.
What is BioNexus?
BioNexus is a special status awarded to some international and Malaysian biotechnology companies. The status endows fiscal incentives, grants and other guarantees to assist growth. Since 2005, BiotechCorp has facilitated the development of 207 BioNexus-status companies in Malaysia with total approved investment of $690 million (RM 2.118 billion). BioNexus Status companies receive continuous support and assistance from BiotechCorp on immigration-related matters, IP advisory and regulatory services and employment-related matters. BiotechCorp also provides a wide range of capacity building programs covering a variety of subjects to assist biotechnology entrepreneurs in managing their business locally and internationally.