Breaking Ground:
One Meds Granted Bio-Based Accelerator (BBA) Status
ARTICLE 01
December 9 2022
In a significant stride towards fostering innovation and technological advancement, One Meds proudly announces its approval as a Bio-Based Accelerator (BBA) company by the Ministry of Agriculture and Food Industries (MAFI).
the Malaysian Bioeconomy Development Corporation (Bioeconomy Corporation), aims to propel bio-based start-ups and small and medium enterprises (SMEs) to new heights by addressing critical gaps in technology adoption, skills, finance, regulatory preparedness, and product marketability.
MAFI Minister YB Datuk Seri Dr Ronald Kiandee highlighted the importance of the BBA programme in strengthening national food security and fostering innovation within companies. He noted that 49 companies, including One Meds, have been approved for the programme, with a collective investment projection of RM737 million and the creation of nearly 2,000 job opportunities within three years. The minister emphasised that biotechnology, a focal point of MAFI's strategy for the next decade, aligns with the goals of the BBA programme to boost technology adoption and accelerate company growth.
Senator YB Datuk Iskandar Dzulkarnain Abdul Khalid, Chairman of Bioeconomy Corporation, emphasised that BBA serves as a platform for companies to unlock their potential and qualify for BioNexus Status, granting them special tax incentives and guarantees. The BBA programme aligns with Malaysia's National Agrofood Policy 2021-2030 (DAN 2.0) and contributes to the broader goal of increasing investments and collaborations in biotechnology.
As part of the BBA programme launch, Bioeconomy Corporation entered into a Memorandum of Understanding (MoU) with the Malaysian Productivity Corporation (MPC). The collaboration between the two entities aims to enhance engagement and develop facilitation and nurturing programmes for bio-based companies, including those under the BBA programme.
One Meds, now a proud BBA company, will have access to numerous development training and programmes covering product development, technology facilitation, market access, and funding assistance. The structured knowledge-transfer sessions, training programs, and shared laboratories provided through the BioNexus Partners Programme (BNP) will contribute to the technology and commercial readiness of BBA companies. With strategic nurturing, BBA companies like One Meds can pursue certifications such as GMP, HACCP, MESTI, and Halal, positioning them for success in the competitive landscape.