President and Chief Executive Officer Datuk Azman Shahidin said the IVM pilot programme began in December 2012 and was offered to the public in June last year and received a positive response from 25 new incubates.
Speaking to reporters at the launch of the IVM Wednesday, he said, the new models suited technopreneurs who needed the relevant support services that an incubator offered but still wanted to maintain their own offices or work from home.
Azman said the IVM programme incorporates two services, namely Integrated Business Solution and Business Network Knowledge Exchange, designed to provide entrepreneurs with the competitive edge.
IVM offerings are available in two packages - virtual office and virtual support service - which are priced at a monthly charge of RM295 and RM135, respectively.
"It's cost-efficient and affordable and a most effective solution for new start-up companies and individuals who are constrained by limited capital investment," he added.
The TPM, an agency under the purview of the Science, Technology and Innovation Ministry, has an integrated infrastructure, facilities and support services to assist technopreneurs and entrepreneurs who are keen to commercialise their ideas in four industry clusters, namely information and communications technology, engineering, biotechnology and green technology.
Azman said the IVM was open to all technology entrepreneurs with ideas that are viable and bankable with a good back-up team that was passionate and competent.
Meanwhile, Deputy Minister of Science, Technology and Innovation Datuk Abu Bakar Mohamad Diah, who unveiled the IVM, also launched the commercialisation of three new products by TPM incubatees Wednesday in line with the ministry's Commercialisation Year 2014 programme.
The products are Evenesis, developed by Y Us Sdn Bhd, Mobile Business App by SME Cloud Sdn Bhd and GuruBestari Apps by Akriz Sdn Bhd.
Abu Bakar said 32 products have been commercialised todate this year and the ministry has targeted to commercialise 60 locally developed inventions, particularly through technological innovations, this year.
Under the current 10th Malaysia Plan, the ministry had commercialised 78 products, with sales worth RM332 million, he said.
The ministry would continue to invest in innovative and high technology products, with high impact to help the country attain high-income nation status by 2020, he added. - Bernama