KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak awarded the Intelligent Circulation While Drilling tool, iCWD, the Supreme Award at the MCY 2016 presentation ceremony in Kuala Lumpur this morning.
Intelligent Circulation While Drilling, iCWD, was the top winner of the Malaysia Commercialisation Year 2016 Award (MCY 2016) grabbing the MCY Supreme Award (Best Overall Winner), and Top Commercial Deal Category Awards winning a total prize money of RM 350,000.00.
En Nik Mustapha Fathil, co-founder of MIT Innovation Sdn Bhd, received the Award Certificate from Prime Minister, and Dato’ Ir Mohd Azman Shahidin, President and CEO of Technology Park Malaysia Corporation Sdn Bhd (TPM), the incubator of MIT Innovation Sdn Bhd, received the award trophy from Prime Minister.
The iCWD is the industry’s first intelligent drilling circulation system employed in the oil and gas exploration/drilling sectors. It provides significant timesaving, safety and efficiency improvement features that reduce the overall cost of well construction.
MCY Event was organized by Ministry of Science, Technology and Innovation, MOSTI, Ministry of Finance (MOF) and other government agencies.
About Technology Park Malaysia (TPM):
Since its establishment in 1996, Technology Park Malaysia Corporation Sdn Bhd (TPM) has continued to manifest in its underlying motto “Your Success Begins Here” that has reached the length, depth and breadth of the technopreneurial community.
More than 3,000 technology driven companies have benefited from TPM – both local and multi-national within various clusters of industry. ICT cluster has recorded the highest tenancy within TPM followed by Engineering and Biotech, Telecommunication and Content, and Support Services.
Focused on the objective of creating this conducive environment for innovation, TPM will transform itself with a five prong strategy which involves the maximizing of its land assets, enhancing its commercialization and support services, increasing the efficacy of its advanced infrastructure and networking capabilities, elevating its 4th generation technology incubation programmes and developing start-up friendly policies to generate a proliferation of technology based quality start-up companies with global potential.