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Futurise has an impact on job creation in various industries through national regulatory sandbox initiatives

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  • Shared 3-year progress update with impact report as a testament
  • Impact and create more than 32,250 job creation opportunities through various programs and initiatives
  • Committed to propelling the aspirations of the National Regulatory Sandbox Initiative

CYBERJAYA, Malaysia, June 28, 2021 / PRNewswire / – Futurise today released the Futurise Regulatory Summary for Stakeholders (FiRST) as its first impact report (2018-2020), which highlights the company’s key role in leading the National Regulatory Sandbox (NRS) and as a public policy advisor to industry and government to shape the future economy.

Mahadhir Aziz-CEO of Futurise

Since the creation of Futurise, regulatory intervention, innovation deployment strategies and ecosystem expansion dynamics have been key factors in ensuring the success of NRS initiatives impacting more than 4,000 job creations. only within NRS Labs over a period of 3 years. The organization has also made significant progress in achieving its goals and achievements by ensuring the preparation of more than 5,000 job creations within 5 years through the work of regulating the drone industry. Ranked 24th in the world by Drone Industry in 2019 in the development of Drone Technology, Malaysia is poised to position itself as one of the key players in the Asian region. One of the results of the NRS Labs was the establishment of Malaysia first drone test zone (DTZ) announced on July 1, 2019 during the signature event of Futurise, MyDroneX. Located in Cyberjaya, drone players have the opportunity to test their drone innovations in a safe and controlled environment, which will help boost the drone industry as a whole in the long term. To date, more than 216 flights with more than 432 total flight hours have taken place at DTZ.

With the effect of the Covid-19 pandemic causing economic hardship, there has been an emergence of opportunities for workers in concert with the Mobile Childcare Services initiative which foresees the creation of over 23,000 job opportunities. for workers made redundant and workers in concert within 5 years. Frame. With an impact on the more than 20,000 current JKM certified caregivers, Futurise’s role was to develop and deliver a Standard Operating Procedure (SOP), approved by JKM to ensure minimum standards are met by service providers. childcare services as well as to fill gaps in public safety.

In the fourth quarter of 2020, the Cyberjaya Malaysia (MyAV) autonomous vehicle test route, developed in collaboration with the Ministry of Transport (MOT) as part of the NRS initiative for the future development of autonomous vehicle projects, has been approved, bringing a total of 200 to 250 highly skilled job creation in robotics and electrical engineering, programming, machine learning, AI and automotive engineering traditional, among others. Futurise took the lead in the development of the first test bed for autonomous vehicle testing in Cyberjaya, consisting of two routes with the aim of helping industry players to test and collect relevant data regarding the industry. autonomous vehicles. Since January 2021, the test loop was used an average of three times per week, on the stipulated approved route to Cyberjaya, with a total AV test of 480 km.

“We continue to take important steps throughout 2021 to create a better future by advancing economic opportunities, supporting the growth of innovation in the country, accelerating regulatory interventions to address data sharing issues and reducing dependence on foreign labor by ensuring job creation within our NRS laboratories. initiatives, ”said Mahadhir Aziz, CEO of Futurise.

Futurise is also looking forward to a closer collaboration with the National Sports Institute of Malaysia (ISN) by looking to the necessary regulatory framework within the sports industry, sports technology and advancements that can potentially enable the creation of a new ecosystem. As for the Malaysian Academy of Sciences (ASM) in mutual and agreed accountability towards the partnership between Futurise and ASM, Futurise’s proprietary open innovation platform (FUTURITY) is to be used correctly and effectively for the program i -Connect from ASM, so that innovation within the program can be recorded on the platform for possible correspondence with potential solutions as well as for possible channeling into the NRS program.

Current work at the NRS Lab includes digital stamping with the goal of accelerating government digital delivery services with the potential impact of moving more than 5 million transactions from offline to online; affecting more than 10 million public and private sector users, with a potential projection of RM 6 billion collection of stamp duties.

To download the report, go to: https://futurise.com.my/first

For partnership opportunities, please contact: hellofuture@futurise.com.my

About Futurise

Futurise is a wholly owned subsidiary of Cyberview Sdn Bhd under the Ministry of Finance, which plays an active role as a public policy advisor to ministries and industries in training Malaysia for the economy of the future.

The company has been commissioned by the Malaysian government to lead the National Regulatory Sandbox initiative to accelerate regulatory response, deploy innovative and technological solutions and establish new innovation ecosystems.

The NRS provides a forward-looking approach to regulation, allowing minimal barriers by creating a controlled regulatory testing environment. This initiative will also help the government to better understand the importance of the impact of technology on economic growth and human capital development based on the principle of “data-driven policy intervention”.

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