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c) Improving the linkages and interactions between public and private sectors to enhance knowledge creation and dissemination, and to identify niche areas without conflict.

CAUSES

1) Lack of collaboration
Lack of collaboration can lead to misunderstandings or conflicting interests between public and private entities, potentially escalating tensions and hindering progress in identifying niche areas without conflict. In addition, it is because of the limited knowledge sharing. Without collaboration, valuable insights, expertise, and resources from both sectors may remain private, hindering the creation and dissemination of knowledge.

2)Information Gaps

challenges faced in the information gap between academia and industry include lack of alignment in skills and knowledge expectations, differing priorities and goals between academia and industry.

3) Intellectual Properties

Challenges of Intellectual Property (IP) Rights: Disagreements over ownership and commercialization of research findings an hinder collaboration.

SOLUTIONS

1) Establishing Public-Private Partnerships (PPPs)
Establishing PPPs can significantly enhance the linkages and interactions between public and private sectors in the biotechnology industries. First, PPP allows the sharing between the public and private sector. PPPs make it possible to share resources like funds, equipment, and knowledge, which is especially advantageous for complicated biotech projects that call for large sums of money. Next, PPPs might encourage workforce and educational development. This is due to the fact that PPPs frequently include educational components that might serve in creating a qualified workforce, such as fresh graduates, which is crucial for the expansion of the biotech industry.

2)Solution to information gap:

Knowledge Sharing Platforms -  Creating online platforms facilitates exchange of data, research findings, and best practices between sectors.

3) Intellectual property (IP) rights:
Consider Open-Source Licensing - Particularly for research findings, open-source models can ensure wider accessibility while allowing some control for creators.

group - afriena shazzana, nur fatin hanani, fathin ainin sofia, nur eriesya syazwa, choong jia hui, agnes kong, ting ling hung

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a)Several potential root causes contribute to the lack of funding for small and medium startup companies.

i.Inadequate Business Planning: Poorly developed business plans or lack of a compelling value proposition can deter investors who seek a clear understanding of the startup's potential for growth and profitability.

ii.Economic Factors. Economic downturns, changes in regulations, or shifts in consumer behavior can affect investor sentiment and willingness to invest in startups.

iii. Lack of Successful Precedents. The absence of notable success stories or established biotech companies in Malaysia may deter investors from entering the sector. Without tangible examples of successful biotech ventures, investors may be hesitant to take the plunge into an unfamiliar industry.

a)To overcoming the lack of funding for small and medium startup companies.

i.Government Grants and Programs: Many governments offer grants, loans, and incentives specifically targeted at biotech startups to foster innovation and economic growth. For example, An additional RM5 million funding Is designated for the Bio-based Accelerator (BBA) programme to boost local biotech companies. The government seeks to attract more local and foreign industry players to partake in this flourishing high-value, high-tech sector.

ii. Partner with Experienced and Specialized Investors. While venture capital funding in the Malaysia can be competitive, it offers more than just monetary investment. Venture capital funds specialize in specific fields, providing not only funding but also valuable expertise and experience.

These partners often take board seats, offering management or operational support to emerging biotech companies.

iii. Angel Investors and Venture Capitalists. Seek investment from individuals or firms specializing in biotech or healthcare startups. They often provide not just funding but also valuable industry connections and expertise.

Jong Sing Yee (84167), Emily Soo Hoo Gui Qing (83764), Ch’ng Jie (83444), Tan Sze Jie (85886), Beh Yi Shan (83367), Liew Yu Vui (82641), Darren Lim Wei Jie (83603), Clement Chong Nyan Hua (83550), Ng Jing Jie (84835).

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Group abang daim and friends

Challenges : Overcoming the lack of funding for small and medium startup companies.

Network Building: Build a strong network within the biotech industry, including investors, advisors, potential collaborators, and key opinion leaders. Networking can lead to funding opportunities and strategic partnerships.

Angel Investors: Connect startups with angel investors who specialize in biotechnology. These investors often provide funding along with mentorship and industry connections.

Strategic Planning and Pitching: Develop a compelling business plan and pitch deck to attract potential investors. Highlight the market potential, unique value proposition, and milestones achieved to date.

Grants and Government Funding: Encourage startups to apply for grants and funding opportunities offered by government agencies

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Group Felicia (Group 2)

Daniashaza

Dini afrina

Husna

Claudina

Anna

Overcoming the lack of funding for small and medium startup companies.

Potential Root Cause

1. Limited Access to Capital

Many startups struggle to secure funding due to limited access to traditional financing sources like banks or venture capital firms.

2. Inefficient Funding Processes

Lengthy and complex funding processes can deter investors or result in delays, impacting the ability of startups to access timely capital.

3. ⁠Weak leadership

Inexperienced or ineffective leadership can result in poor decision-making and hinder team morale.

Innovative Solutions

1. Government Grants and Subsidies

Explore opportunities for government grants, subsidies, or tax incentives available to startups in specific industries or regions.

2. Strategic Partnership/ Collaboration

Collaborate with strategic partners, suppliers, or customers who may be willing to invest or provide financing in exchange for equity, revenue sharing agreements, or long-term contracts.

3. ⁠Incubator and accelerators

Incubators and accelerators are organizations or programs specifically designed to support early-stage startups. In the context of the biotechnology industry in Malaysia, these would be entities that focus on providing resources and support tailored to biotech startups.

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d) Establish clear path or guideline to help company register their product & access the local market more effectively.

1. establish a common standard & procedure to facilitate product and market access.

cause of challenge: lack of standardization & inefficient company seeking to register their product

2. using Al assistant and support service

ensure regulation remains relevant & responsive to meet the industry needs.

cause of challenge : inefficient & long process, hinder ability to reach local market.

3. capacity building

enhancing understanding of biotechnology product

cause : lack of experience

4. Partnership & collaboration (networking)

-help in expanding reaches & access to new market

-aid in navigate market challenges

cause : small networking

5. website & social media

-making sure important news & information easy to reach

-gather information in one place

cause : lack of media coverage

NUR BATRISYIA SALIHAH 82813

NUR ALEEYA NATASHA 82796

QAHIRAH BINTI JOEL 85491

NUR ALIEYYA UMAIRAH 84996

SRI WAHYUNI 82962

NOR IZATI SAPURA BINTI IBRAHIM 84902

MUSLAINI FARAHANI BINTI JULAIHI 84783

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"Overcoming the lack of funding for small and medium start-up companies"

1. government funding

finding investment

-set up a department specialised in providing funding in terms of low interest funds to support small and medium start-upup biotech companies

2. partnership/collaboration

- with large companies or research instituitions with more funding, resources, network opportunities

-(prepare a proposal and send it to the government / companies to ask for the funding)

3. allow visitations from big company and presentation sessions for them to explore and seek the potential in start up companies

4. participate in start-up competitions and pitch events

-attract attention from other larger companies, building credibility and secure additional funding

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Title: (a) Overcoming the lack of funding for small and medium start up companies

Root cause

1. Regulatory hurdles/ high risk

- Biotechnology products require a lot of clinical trials and approvals before it can enter the markets. These trials and approvals are often time-consuming, expensive and can take a long durations to complete which can cause the lack of interests and funding from the investors. Plus, the concern on clinical trials and approval from Food and Drug Administration (FDA) reduces the biotechnology stock market (Murphy, 2022). For example, Fibrogen's (FGEN) stock price plummeted due to the disapproval of FibroGen's roxadustat project used to treat anemia by the FDA because of its side effects. Thus, investors don't have the chance to sell the stock prior to market opens when a company stock price drops.

funding competition

high cost

2. High demand cost

New biotech companies are constantly appearing, developing solutions and technologies that have the potential to revolutionise modern healthcare.

However, despite the huge amount of investment surrounding biotech startups, growing a successful business is never easy.

Creating new healthcare treatments in the biotech industry is not only financially costly but also time-intensive, with an average development timeline of 15 years from inception to market distribution. Biotech startups, facing potential expenditures of up to $1 billion on research and development for a single drug, must optimize their operations for efficiency to navigate this prolonged process effectively. With the risk of spending over a decade on product development before seeing any returns on investment, cost control and revenue loss loom as significant challenges for the majority of biotech startups, emphasizing the critical importance of maximizing efficiency in every aspect of their operations to enhance their chances of success.

3. Funding competitions

- Startups of companies often face intense competition for funding from other companies seeking investments, particularly in highly competitive industries or markets. This competition can make it more difficult for small and medium startups to stand out and secure the necessary funding. Usually investors have specific preferences and criteria when evaluating. they seek innovative idea, strong teams, and scalable business models. Startups must align with these preference to increase their chances of securing funding

Solutions

1. Regulatory hurdles/ high risk

- Implementing risk management techniques such as hedging, insurance, or setting aside reserves to cushion against unexpected losses and develop strategic planning to navigate high-risk situations

2. High demand cost

Sharing lab spaces and equipment by exploring co-working labs or facilities that offer shared lab space and equipment. This allows startups to access resources they might not  be able to afford on their own. The company also can take advantage of open-source software tools and biological databases available for research purposes. This can be a cost effective alternative. Pharmaceutical companies often form partnerships to jointly develop new drugs: Pfizer and BioNTech, AstraZeneca and Oxford University, Novartis and the Bill & Melinda Gates Foundation are a few examples of such collaboration for COVID-19 vaccines. These partnerships allow them to share the costs of research and development, and also pool their resources to speed up the process of bringing new drugs to market.

3. Funding competitions

Start doing research on potential funding sources relevant to the company's needs and goals. The company also needs to start early since the process of applying grants takes a lot of time. Start gathering necessary materials, create a strong proposal, and prepare the required document early. Through these tips there are high chances of securing funding for the company.

Reach out to biotech experts as they can give advice on ways to secure funding, or if they have the capital to do so, they can invest in the project themselves. If they can't offer funds, partnering with these experts can boost the company's authority and build stronger connections within the field. This would increase credibility for the potential investor. Pharmaceutical companies often form partnerships to jointly develop new drugs: Pfizer and BioNTech, AstraZeneca and Oxford University, Novartis and the Bill & Melinda Gates Foundation are a few examples of such collaboration for COVID-19 vaccines. These partnerships allow them to share the costs of research and development, and also pool their resources to speed up the process of bringing new drugs to market.relevant to the company's needs and goals. The company also needs to start early since the process of applying grants takes a lot of time. Start gathering necessary materials, create a strong proposal, and prepare the required document early. Through these tips there are high chances of securing funding for the company. Reach out to biotech experts as they can give advice on ways to secure funding, or if they have the capital to do so,  they can invest in the project themselves. If they can't offer funds, partnering with these experts can boost the company's authority and build stronger connections within the field. This would increase credibility for the potential investor.

Esteelyn (83790), Elizabeth (83721), Nabilah (82954), Angel (82433), Alexis(82390), Tony (85942), Badrul (84523)

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(D) Establishing clear regulatory paths/guidelines to help companies register their products and access the local market more effectively could help mitigate this issue and foster more growth of the biotechnology industry in Malaysia.

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Ashby, Awang,Sufyan,Jazuli,Issac

a) overcoming the lack of funding for small and medium startup companies

Root of problem

1)Competition

compete with bigger company

Company that had good networking and access is more better chance in managing there company properly rather than a startup company that only start with lack of experiences

2) poor financial planning

Improper budgeting with lack of expense control and bad financial forecasting

3) narrow audience of institutional investors

Early biotech startup company have lack of audience due to their lack of presence in the early stage

4) inadequate markets research business planning

Company that had lack of research bound to fail in the long term

Solutions of problems

1) competition

Niche specialization

Focus on a specific niche or area within biotechnology where larger larger companies may not be as agile or specialized becoming experts in a particular field startup can carve out their own market segment.

2)improve financial planning

Realistic financial projections with creating detail financial projections based on market research. Factors such as such as development costs regulatory expenses and revenue forecast. Estimate more to account for potential setback.

3)increase networking of investors

Builds relationships with investors and venture capitalist by attending networking agent. A VC is an investor who provides young companies with capital in exchange for equity.

4) have a better understanding and researching of market

Identify market targets, define targets based on demographic. Conduct a thorough market research for every aspects.

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Challenges: Overcoming the lack of funding for small and medium startup companies.

Problem 1: Limited Access to Finance

Cause: Small and medium entreprise (SMEs) often struggle to secure loans and investments capital due to their size, lack of collateral or perceived risks.

Strategies: They can explore much more other alternatives such as crowdfunding and government grants. They also have to be strong in term of building connection with local banks.

Problem 2: Poor Market Conditions

Cause: Economic downturn and unfavorable market conditions can impact SMEs revenue.

Strategies: They should increase the diversity of their customer background or adapt to the changes in market trends. Collaboration with other businesses also can mitigates risks.

Problem 3: Unbeatable Competition

Cause: SMEs face a rigid competition from a larger companies with the established market presence and resources.

Strategies: Identification of SMEs unique value proposition, niche market and competitive advantages.

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1. Poor business planning

-lack of planning and did not prepare for vital activities.

-lack of clear goals and planning.

-unsuccessful marketing initiatives/ campaign

2. High costs and reduced revenue

-Poor cash flow management

-spend more money than earning

-cash inflow are inconsistent

3. Lack of knowledge and skills

-Lack of communication and leadership.

-lack of information about business.

Solutions

1. Create detailed business plan that covers such as marketing, staffing, finance and sale. For instance, business pitching can generate interest to investor, secure meeting.

2. Plan for a cost strategies plan. It provides detailed cost estimates for each component.

3. Absorb into knowledge and skills such at industry that you're entering, targeted customers and competitors that you face.

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Group Hamirul

Challenge (a)

(I) Financial planning.

Creating a lean budget focusing on essential expenses.

(II) Strategic location

Look for area with access to talent, supportive business networks, and affordable living expenses.

(III) Seek for contract freelance workers for specific project

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Root of causes:

1. Market uncertainty

2. Lack of business knowledge

3. Big company monopoly

4. Lack of awareness and networking

5. Competition for funding

Strategies:

1. Business pitching - Places for all of the startup companies to present their ideas and products. It is a place for government or private investors to provide funding for the products and company itself. This is also a place for the company to do networking in ensuring that they can receive help from the industry.

2. Government policy

a. Help in getting license for the small company

b. Provide seminars to build knowledge in business and the industry itself.

c. Held a convention every year for all of the small and medium companies to present their ideas and invite government and private investors. The government also will provide subsidies for the best idea.

3. Company Responsibility

a. Marketing proposal

b. Partnership

c. License

d. Crowdfunding

How it can foster the growth of the biotechnology in Malaysia:

1. There will be many small companies that will compete to produce the best innovation as the customer wants the best product for their money. Therefore, the biotechnology industry will grow exponentially as our country can export this product and contribute to the growth of our economy.

Group Members :

1. Jeremy bryan joshua (82618)

2. Nurhafika bt Ismail (82858)

3. Mohd Asyrani Aqmar bin Haslie (82699)

4. Azzaty Binti Azman (82463)

5. ⁠NURSHAMIRA BT NORHAISEN (82873)

6. ⁠AFIFAH MAHTUDZAH BINTI ARIFFIN (82347)

7. ⁠NUR NAZIRA ILYANA BINTI MOHAMAD SHAFIZAN (82840)

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Problem to tackel: Long Time to Market

Bringing biotechnology products to market typically requires extensive research, preclinical and clinical testing, regulatory approval, and commercialization efforts. This lengthy development timeline can deter investors seeking quicker returns on their investment (Abuduxike et al., 2012)

One of the ways to solve:

Investigate governmental grants, loans, and initiatives tailored to assist small businesses and startups. These resources offer significant funding opportunities without necessitating equity participation in your company.

References:

Abuduxike, G., Aljunid, S. M., & Sulong, S. (2012). Main challenges in developing biotechnology industry in Malaysia: perspectives from the innovative biotechnology firms. BMC Public Health, 12(S2). https://doi.org/10.1186/1471-2458-12-s2-a25