The Commercialization of Technology Based Firms (TBFs) have been acknowledged to play an increasingly significant role in economic development and has been regarded as an engine of growth that gingers rapid industrialization, generates revenue, wealth creation and employment generation. Many universities and other research institutes in Malaysia have established Technology Transfer Offices (TTO) to support the scientist in the bid to commercialize Research and Development (R & D) initiatives. This among others are the lessons learnt from the BayhDole Act which shows that increasing policy support from various government has motivated academic entrepreneurs to churn out spin off companies. The purpose of this research is to find out the roles of government in the commercialization of TBFs in Malaysia. In this research, 28 technology based firms and 19 venture capital firms were interviewed with the aid of a tape recorder and some through observation. Data was later transcribed and analyzed through content analysis, identified items coded and emerging themes sorted. Conclusions are drawn from the study findings and recommendations made.
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