Utilisation Of Public Financial Assistance For Innovation Within High-Technology Small Medium Enterprises In An Emerging Economy | SEKOLAH PERNIAGAAN DAN EKONOMI UPM
» Utilisation Of Public Financial Assistance For Innovation Within High-Technology Small Medium Enterprises In An Emerging Economy

Utilisation Of Public Financial Assistance For Innovation Within High-Technology Small Medium Enterprises In An Emerging Economy

by Dzulkifli Mukhtar*, Hasannuddiin Hassan, Muhammad Naqib Mat Yunoh, Mohd Hafizie Suhaimi
University Malaysia Kelantan, Malaysia
 

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Abstract

Policy formulation and implementation for economic diversification by Governments in developing economies in in the late 1990s led to the emergence of high technology sectors within local economy. Features of these sectors are not only confined to the essence of research and development, but also highlight the importance of capacity building among local firms in developing economies. This study presents an in-depth case study of one of local firms in Malaysia. This study employs triangulation technique that provides insight into the contribution of government financial policy initiative to the development of innovation capabilities of a local firm. It identifies that the public financial assistance has been used by a local small and medium firm to enhance its innovation capabilities for new product development process of high technology products, in this context, bio-technology products. This study also found that this local firm is capable to proceed with invention (discovery of new technology) but it needs to improve its capabilities in the latter stage of innovation process.  The study contributes to closing some of the gaps in research into public initiative support for innovation and subsequently into the development of high technology sectors. In particular, it identifies that the firm is able to improve its manufacturing and marketing capabilities which are applicable to exploit innovation potential.

Keywords: Financial assistance, innovation, high technology sectors, small and medium enterprises

 

Kemaskini:: 22/02/2022 [syazmer]

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