The creation of elite entrepreneurs enables the full utilization of local technology and the application of research methods in creating innovation, products and services to fulfill market demands in the biotechnology industry. The FMBioSis™ program sees the collaboration of FRIM and MTDC, with FRIM as the technology and expertise provider, MTDC’s main roles are the financing and nurturing of graduates to succeed in the industry. The nurturing program under FMBioSis™ consists of 3 modules – which are the biotechnology Induction course, the MTDC-iC2 Institute, University of Austin, Texas Course and the Incubation Program.
For the first program that started in May 2008, a total of 30 graduates were short listed for the ten-day FMBioSis™ Biotechnology Induction course, out of which 24 were selected to undergo the MTDC-iC Institute course for five weeks. Finally, only 19 outstanding members were picked for the Incubation Program where they underwent the Technology and Business Development Program.
- To expose local graduates to the potential of biotechnology and the opportunities available to bio-entrepreneurs.
- To expedite transfer-of-technology for the development of biotechnology as a new economic catalyst for the country.
- To establish more entrepreneurship programs for graduates in the country, create job opportunities in biotechnology sectors and minimize reliance on employment in the public and private sectors.
- To foster and strengthen partnerships between entrepreneurs and research institutions (especially FRIM) to accelerate the development of research-based business industries.
- To acquire knowledge and enhance entrepreneurship development programs as well as value-added services towards the development of better programs in the future.