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| In the Business of Commercialization |
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| Since Malaysia’s National Biotechnology Policy, the industry has been buzzing with anticipation for greater development of science and technology as a tool for wealth creation and national well-being. The nine thrusts outlined by the policy reflects the intention of the government to leverage Malaysia's existing capabilities and moving them up the value chain through commercialization. Two years down the road, the country has been building upon its infrastructure and research capacity, as it anticipates the surge of industry R&D requirements. | |||||||||
However since the beginning of the feature article series, discussions with personalities in the industry have yielded one pressing question. “How do we commercialize the end products of research into something that the Malaysian public can accept, and who can?” The difficulty of translating hard-edged science into savvy consumer products is one of the greatest challenges of the biotechnology industry today. The main reason behind such difficulties is the gap of knowledge in the “science” of the commercialization process. | |||||||||
Many
research institutions and local universities have understood such challenges
and have begin to hop on the bandwagon by establishing their own commercialization
branches, while others may contract companies specializing in this area
of expertise, especially to aid them in the commercialization of their
innovations. One such company dedicated to product development technologies
is the Furley Group of companies.
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Located amid the drab walls of an industrial area in Puchong, one would be hard-pressed to correlate with innovation and the vibrant creativity associated with the company’s expertise. However, upon entering the office, amid delicate antique teak furniture, the company seems to be a hive of activity, buzzing and full of life. Group Managing Director, Stuart Soo, is exactly alike in this manner, a genteel gentleman, who upon the first impression was private and unassuming. However, as the interview progressed, it was evident from his dry wit and enthusiasm that there was more than what may be seen at first glance. Having been in the line 3rd party product development overseas for more than 20 years before finally opting to return to the country in 2001. He has been working on a contract basis with many multinational companies in New Zealand, China, Hong Kong, Thailand and is particularly experienced in the commercialization and development of nutraceutical, food and beverage products. “Around the end of 2001, after a stint in China, I decided that it was time for me to come back (to Malaysia). On the basis of my (years of) experience, I started Furley, with the help of a partner to mainly work on the transfer of technology especially in bioactive compounds,” he stated. “We generally deal with product development, from cradle to grave, or as we could say, from the plantation to the finished products on the shelves. | |||||||||
To
illustrate his point, Stuart perused a flow chart outlining the chain
of commercialization, beginning with a scientific finding and ending
with the launch of a product from the finding. “Science is only
one part of the story,” he commented. “The process of commercialization
does not only end with the innovation. In fact, a long drawn out process,
involving assessing the market trends and its needs, potential profits,
documentations required, project planning, cost, supply and supply chain,
production design etc., pretty much makes the process of commercialization
mystifying to most.”
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From
vast range of products being on display, it would be obvious to the
spectator that Furley Group is unlike most companies. With products
like optimum DHA milk formula to osteoarthritis-preventing supplement,
and also the world’s first all-natural skin-whitening product
line with anti-oxidants derived from mangosteen extracts, Furley seems
to be a company gifted with the ability to bridge the large gaps between
innovation and commercialization to bring novel products into the Malaysian
and overseas market and manufacturing for companies in other countries
including Hong Kong, China, New Zealand, Thailand and Japan. | |||||||||
| “In
fact, we shall be launching some of our products, we have jointly developed
with FRIM (the Forest Research Institute of Malaysia), with the main
attraction being an alternative functional soft-serve ice-cream [ice
confection] made from whole mangosteen fruit technology which is both
fat-free, cholesterol free, low sugar and high in antioxidants,”
enthuses Stuart. “The event would be graced by the H.R.H SULTANAH
HAJJAH KALSOM, Sultanah of Pahang, and would be the beginning in a series
of products developed with FRIM.” | ||||||||
Mr.
Stuart Soo with the Datuk Abdul Razak, DG of FRIM & H.R.H. Sultanah
Hajjah Kalsom, Sultanah of Pahang
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When
queried on the projected development of such a vibrant company, Stuart
was optimistic with its expansion, with an extraction plant being slated
to be completed in mid-2009. Similarly, a plantation project would be
underway in Pahang in a joint venture with several NGOs. The plantation
project will see the company allocating land and imparting good farming
practice and management technologies for rural farmers to manage the
planting of several local herb species, with a guarantee buyback of
their crops. This is in line with the recent government policy of improving
the lifestyle status of rural folks.
“For
the (plantation) project, we are echoing the governments call for businesses
to assist rural folk by providing them land and opportunities under
a ‘one family one business’ scheme. This will also help
us solve the problem of our supply chain, as when we are working with
multinationals, this issue is of great importance, and as well as my
personal convictions, as I believe that I do not need to ‘rape’
our forests to do good business.” | |||||||||
| By K. C. Liew for MABIC | |||||||||
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