Science minister says corporations must lead in adopting startup technologies to boost national competitiveness and avoid innovation stagnation
KUALA LUMPUR: Malaysia must accelerate the translation of innovation into enterprise adoption to drive productivity and national competitiveness.
Science, Technology and Innovation Minister Chang Lih Kang (pic) said corporate innovation is critical as corporations are the primary engines of scale.
He stated that corporations shape supply chains, set industry standards and determine how quickly new technologies reach the market.
“When corporates move slowly, innovation stalls. When they lead, entire ecosystems accelerate,” Chang said in a keynote address.
He was speaking at The BIG Programme: Corporate Innovation Forum organised by Cradle Fund Sdn Bhd.
Chang said his ministry is reshaping how corporations engage with innovation as active partners in technology adoption.
He acknowledged that traditional procurement models and risk frameworks are often designed for stability rather than speed.
These structures have become bottlenecks in a fast-moving technology landscape, according to the minister.
“What we are seeing today shows that these barriers can be broken,” he added.
Chang explained that rethinking corporate engagement with startups can accelerate market access.
He said innovation can be made both impactful and manageable in terms of risk.
The minister noted that confidence to experiment and scale technology is driving corporate engagement with startups.
This is supported by more structured facilitation and clearer risk-sharing frameworks.
These frameworks allow for faster decision-making and movement beyond pilot projects, he added.
Chang said earlier engagement helps address a gap between innovation readiness and procurement readiness.
Discussions on deployment models and intellectual property between tech leaders and corporates are crucial.
He said the impact is already visible with corporates stepping forward as first movers locally.
Corporates are committing capital, resources and leadership attention instead of waiting for overseas technologies.
“For the Science, Technology and Innovation Ministry, this signals a deeper shift,” Chang stated.
He concluded that innovation is increasingly seen as a strategic investment in resilience and long-term growth.
“This is exactly what Malaysia needs to stay relevant in a technology-driven global economy,” he added.
