KUALA LUMPUR, June 14 (Bernama) -- The Malaysia Innovation Agency and the Finance Ministry are in discussion to facilitate innovative small and medium enterprises (SMEs) for better access to commercialisation funds.

They were expected to conclude the mechanism by year-end, said Science, Technology and Innovation Minister Datuk Seri Dr Maximus Ongkili.

He said commercialisation funds were very important because research, development and innovation could promote and enhance businesses but the SMEs had found it very hard to convince the investment community when they had new products for commercialisation.

Where there were funds available, access was limited, he told reporters after delivering a keynote address at the four-day 22nd Pacific Science Congress here today.

Ongkili said the approach in disbursing available funds had stirred concerns, therefore this subject had been included in the mechanism discussion.

Earlier, he said there was a need for scientists to look beyond science and to be with other professionals such as the entrepreneurs and investors for a paradigm shift as the need to be conversant and comfortable with the demands of the markets was fundamental.

Scientific research was often left to government agencies and institutions, while the SMEs tended to shy away from research which implies that they do not see the value of research in their business or industry.

"They need convincing," he said.

-- BERNAMA