How Technology and Entrepreneurship are Shaping the Development of Industries and Companies
Elgar original reference
Edited by François Thérin
Chapter 10: The role of academicians in technology entrepreneurship
The development of entrepreneurship, as both concept and activity, has grown in importance to Malaysia. Even though the total entrepreneurial activity (TEA) index reported by the Global Entrepreneurship Monitor study showed a low rate for Malaysia compared to other countries, hovering around 5 percent since Malaysiaís participation in the study in 2009, the perceived importance of entrepreneurship to the growth of the Malaysian economy is evidenced by the sheer amount and variety of supporting mechanisms and policies that exist for entrepreneurs, including funding, physical infrastructure, training schemes and business advisory services (Kelley et al., 2012; Xavier, 2012). Malaysia has gone through several phases of entrepreneurship development (Syahida and Amran, 2008) and the most recent is the development of science and technology entrepreneurship. The Gross Expenditure on Research and Development (GERD) showed that Malaysia seemed slow in the science and technology development process compared to its East Asian counterparts such as Japan, Korea, Taiwan, Singapore, China and India (MASTIC, 2009). Among the significant decisions that could be related to the development of science and technology entrepreneurship in Malaysia was the designation of four public universities as research universities, namely Universiti Malaya, Universiti Kebangsaan Malaysia, Universiti Sains Malaysia and Universiti Putra Malaysia (EPU, 2006, p. 258), and, an allocation of 5.3 billion Malaysia ringgit for science, technology and innovation initiatives to strengthen the national innovation system (EPU, 2006, pp. 279-80).
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