RM80m plan to spur R and D in the MSC

By ISHUN P. AHMAD

(New Straits Times)

US-BASED research and design (R and D) company Reveo Inc will launch a fast-track programme in Cyberjaya to help spur R and D activities in the Multimedia Super Corridor (MSC). The programme is a component of INventQjaya, a company to be incorporated ini Malaysia, that will operate a 300,000 sq ft state-of-the-art laboratory to invent, develop and commercialise new and innovative technologies for the global market. The programme, to be launched on Jnauary 17, will showcase six of Reveo's patented technologies - e-Victory (electric car), Mag-air (magnesium-based fuel cells), Portable RPC (batteries), Chelix/luxVu (virtual curtains), PurOgen (pure oxygen generation), and water desalination. Reveo, which is in the process of tying up with local investors, has been in this business for the last 12 years. Reveo president Sadeg M. Faris declined to reveal the identities of the investors as discusssions are on-going. Possible candidates include companies involved in information technology (IT), telecommunications, as well as oil and gas. The launch will see between 10 and 15 scientists from New York joining InventQjaya, together with 15 local scientists currently beaing recruited. The number of scientists and engineers in INventQjaya is expected to grow to about 60 by MAy and projected to swell to 500 in its fifth year of operations. The laboratory will cost about RM80 million, including land charges, and will be borne by the Government which will then lease it to InventQjaya. Construction is on-going with completion expected by the end of the year. Acording to Sadeg, operational cost of the laboratory will range between US$10 million (US$1 = RM3.80) and US20 million in the first year, and increasing to between US25 million and US$50 million in the fifth year of operations. Sadeg said Reveo's six patented technologies are expected to churn out commercialised products as early as January 2004. "InventQjaya is intended to attract the brightest scientists, locally and abroad, and to be the Mecca of science and technology. It is also envisioned to help create new industries in Malaysia as well as in exporting technologies," said Sadeg. He expects other R and D companies to also set up similar laboratories in the future. "The more the better," said Sadeg. InventQjaya also aims to make Malaysia a destination for major scientific conventions, create a showcase for innovative made-in-Malaysia technologies and inventions, and to complement Vision 2020. It is also hopes to encourage and provide wole models and opportunities for Malaysian scientists to pursue applied science and technology. To provide the initial focus of R and D, Reveo will supply its InventQbation business model, management and technical expertise and eight patented technologies. InventQbation is a unique strategy by Reveo where R and D products are developed and incubated quickly before it is spun-off into focused technology companies. This will create novel industries as opposed to engaging in what Reveo defines as "me-too" endeavours, thereby creating jobs and building companies that last.