The Global Trade and Innovation Policy Alliance (GTIPA) has released a report titled “National Innovation Policies: What countries do best and how can they improve?” The Institute for Democracy and Economic Affairs (IDEAS) is a member of GTIPA, a global network of 34 independent, like-minded think tanks from 25 nations throughout the world, that believe trade, globalization, and innovation—conducted on market-led, rules-based terms—maximize welfare for the world’s citizens.
This volume provides GTIPA members’ perspectives on what their nations are doing best when it comes to national innovation policy, and where there is the greatest opportunity for improvement. The goal of this report is to provide a profile of member countries’ national innovation policies, and a comparative analysis of where the greatest strengths and opportunities for improvement lie. It also provides examples of specific innovation policies that have proven successful and other nations may, therefore, wish to adopt.
The Malaysian chapter of the report was prepared by the Institute for Democracy and Economic Affairs (IDEAS). In it, IDEAS summarises the 3 main strength and weaknesses. The strengths are 1) an improving intellectual property environment; 2) an ecosystem that fosters start-ups and 3) A government policy that leverages on the Fourth Industrial Revolution.
However, innovation in Malaysia is hampered by the following factors 1) lagging investment in Public R&D Capacity and Infrastructure; 2) weak investment in human resources and skills, and 3) lack of consolidation and coordination between different government agencies and Ministries.
It is crucial that the Malaysian government tackle the abovementioned issues if it wants to spur homegrown innovations.
The report can be downloaded here. The Malaysian chapter of the report starts at page 52.