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In the National Innovation Council meeting on the 29th of October 2009 chaired by the Right Honorable Prime Minister, Nanotechnology was identified as one of the new growth engines for the New Economic Model (NEM).
On the 14th of February 2011, the National Innovation Council convened and agreed that a nanotechnology commercialisation agency was needed and corresponding activities must be aligned with Agensi Inovasi Malaysia's (AIM) initiatives.
NanoMalaysia Berhad was incorporated in 2011 as a company limited by guarantee (CLG) under the Ministry of Science, Technology and Innovation (MOSTI) to act as a business entity entrusted with nanotechnology commercialisation activities. Some of its roles include:
- Commercialisation of Nanotechnology Research and Development
- Industrialisation of Nanotechnology
- Facilitation of Investments in Nanotechnology
- Human Capital Development in Nanotechnology