In today’s fast-paced world, technology is constantly evolving, and it’s crucial for regulators to keep up with these advancements to avoid hampering innovation. Futurise, a company under the Ministry of Finance, is dedicated to driving innovation, regulation and commercialisation in Malaysia. With their National Regulatory Sandbox initiative, they provide a platform for innovators to deploy their technology solutions rapidly and establish new innovation ecosystems.
The Regulatory Sandbox is a unique approach to testing products, services, business models, and delivery mechanisms in a live environment with relaxations on regulatory requirements. By offering a safe space to test new ideas, the Sandbox encourages innovation and competition, which ultimately elevates consumer experiences. This allows businesses to operate with stable and predictable regulatory certainty, thus promoting economic growth.
By leveraging MIDA’s business assistance and facilitation, Futurise assumes an important role in expanding their businesses globally, promoting an adaptive and all-inclusive regulatory framework to hasten innovations. The company’s ecosystem includes academia, government-agencies, regulators, industry players, and ministries, making it an all-inclusive approach to the regulatory landscape.
To address regulatory challenges and promote innovation, the National Regulatory Sandbox provides an ideal testing ground. The Sandbox enables innovators and regulators to discuss the outcome of Sandbox testing, regulatory changes needed, and the development of specific guidelines and regulations.
Futurise’s commitment to driving innovation and regulation in various fields, including Unmanned Aircraft Systems (UAS) and Autonomous Vehicles (AVs) and the latest one Advanced Air Mobility (AAM) showcases their expertise and dedication. Their efforts in promoting the use of new technology solutions in a safe and regulated manner have attracted both domestic and foreign direct investments, further promoting economic growth.
Let’s explore in more detail the concepts of Futurise UAS and Autonomous Vehicles.
Futurise has played a vital role in the establishment of a progressive and inclusive regulatory framework for UAS in Malaysia. This framework is the result of successful collaborations between various agencies and industries, including the Ministry of Transport (MOT), Civil Aviation Authority of Malaysia (CAAM), Department of Survey and Mapping Malaysia (JUPEM), Malaysian Aviation Commission (MAVCOM), Malaysian Communications and Multimedia Commission (MCMC), Malaysia Digital Economy Corporation (MDEC), and UAS industry.
Futurise’s involvement in the development of AVs in Malaysia is also noteworthy. The company has worked closely with the Ministry of Transport (MOT) and relevant agencies to support the advancement of urban mobility, while simultaneously enhancing road safety and productivity.
At present, a new mandate has been entrusted to Futurise as follows:
As Futurise continues to lead the way in promoting an all-inclusive approach to regulatory frameworks, we can expect to see more groundbreaking innovations and technologies emerging from Malaysia in the years to come. In an increasingly digitised world, the importance of organisations like Futurise cannot be overstated. By taking a proactive approach to regulation and encouraging innovation in a variety of fields, they are helping to create a brighter future for all Malaysians.
Mr. Rosihan Zain Baharudin
CEO of Futurise
Collaboration between MOT, CAAM, JUPEM, MAVCOM, MDEC and UAS industry by establishing a progressive and inclusive UAS regulatory framework with Cyberjaya recognised as first Drone Testing Zone (DTZ).
Malaysia’s first DTZ was established on 1 July 2019 during the MyDroneX event, hosted in Cyberjaya. The DTZ aims to serve as a platform for drone players to test their drone innovations in a safe and controlled environment, which will help spur the drone industry as a whole in the long run.
Collaboration between MOT and relevant agencies to develop guideline for AV trialling on public roads in Cyberjaya– endorsed by MOT and MP Sepang.
The Autonomous Vehicle Testing Routes or MyAV Routes, established on November 2020 in Cyberjaya, is an innovation testbed that aims to support industry players within the Autonomous Vehicle (AV) industry in testing out their vehicles and collecting relevant data with regards to the autonomous vehicle industry.
Collaboration between Ministry of Health (MOH) and private online healthcare platform providers to establish an Online Healthcare Services guideline providing virtual consultation and other healthcare related services.
In March 2021, in line with the Twelfth Malaysia Plan (12MP) to promote sports tourism, Langkawi Development Authority (LADA) introduced the ‘Langkawi Cyclotourism Trail’ as a tourist attraction offering visitors a chance to explore the island’s natural beauty and the many hidden corners through cycling with the unveiling of seven (7) routes. The regulatory framework will delve into solutions around safety and logistics that are currently stymying Langkawi’s cyclotourism potential.
A collaboration between Futurise Sdn. Bhd. and Impact Integrated to develop regulatory guideline for electronic sports (e-Sports) in Malaysia in line with Ministry of Youth and Sports (KBS) initiative to encourage youth participation in e-Sports. The submission of the guideline was completed on 6 October 2022.
The guideline will also include e-Sports ethics, contract agreement as well as child protection and e-Sports athlete under 18 years old.
Micromobility refers to a range of small, lightweight vehicles operating at speeds typically below 25 km/h and driven by users personally. Micromobility devices include bicycles, e-bikes, electric scooters, electric skateboards, shared bicycle fleets, and electric pedal assisted (pedelec) bicycles. The micromobility later became a safety issue among commuters after the e-scooters were found to be abandoned around the city, to which enforcers had to impose clamping on the e-scooters and city councils such as DBKL, had to impose a ban of e-scooters on public roads. On 26 April 2022, the Ministry of Transport has imposed a ban with immediate effect on the use of several types of micromobility vehicles on public roads in order to safeguard road users.