Malaysian Global Innovation & Creativity Centre (MaGIC) has launched two programs, MaGIC CER Circle and MaGIC Activate, under the MaGIC Corporate Entrepreneurship Responsibility (CER) platform, a national initiative to facilitate greater corporate and private sector involvement in entrepreneurship development across Malaysia. MaGIC CER’s corporate and community partners include AIA, CIMB, IBM Malaysia, IJM, Media Prima, Allianz, UNICEF, Microsoft, Setia Haruman, Sunway Ventures, TM, Techstars and the United Nations among others.
The MaGIC CER Circle is a “membership” platform to connect corporates and startup communities and help them to capitalize on disruptive technologies and build a continuous innovation pipeline through partnerships.
MaGIC Activate is a platform to help corporations running innovation challenges to reach out to more startups and entrepreneurs.
Datuk Ahmad Bin Haji Maslan, Deputy Minister of International Trade and Industry, said: “It is important for us to foster the culture of innovation as we strive to fulfil our goal for the digital economy to contribute 20% of Malaysia’s GDP by 2020. I believe the initiatives will power innovation to build Malaysia’s future economy as we adapt to the fourth industrial revolution underway. ”
CER is designed to be a catalyst of the next wave of entrepreneurship and innovation, which will allow Malaysian corporates and entrepreneurs to quantum leap their growth, and truly become global industry leaders.
MaGIC CER Circle will lower the barrier of entry for a corporation keen to work with startups by showcasing how others have approached similar partnerships. MaGIC will also share information and learnings from international corporations who have run innovation labs with members of the Circle. MaGIC CER Circle also creates the potential for corporates to work with partners to advance their organization’s innovation agenda, fuel cross-industry learnings, and solve cross-border challenges. 22 partners have signed up so far, including AIA, CIMB, IBM, IJM, Media Prima, Allianz, UNICEF, Microsoft, Setia Haruman, Sunway Ventures, TM, Techstars and United Nations.
MaGIC Activate is an online platform for corporates who want to create innovation challenges to reach out to the startup community regionally and globally. Connectivity with startup and entrepreneurial communities has been one of the requests MaGIC has constantly received from corporations seeking to engage with startups. MaGIC Activate will help corporations running innovation challenges to reach out to more startups. It will also be a platform for startups seeking to innovate for certain industries to find corporate partners and help them grow, scale and/or access new markets. Through the Startup Corporate Open Innovation Challenge Platform by MaGIC Activate, the innovation challenges will connect corporates with entrepreneurs to uncover revolutionary innovative solutions. It is an initiative run by MaGIC in partnership with the Techstars Startup Program to foster collaboration between corporate innovators and entrepreneurs. Through our community partners, we have access to more than 3000 startups who we can engage for MaGIC Activate’s Open Innovation Challenges.
Eight innovation challenges have already been posted on MaGIC Activate, examples of these include the Media Prima Education Challenge, which seeks solutions for a crowd funding platform for promising students who do not have sufficient monetary resources to pursue a tertiary education and the UNICEF Challenge, which looks to invest in innovative, open-source assistive devices and/or technologies that improve the lives of children with disabilities.
Other exciting challenges include the Sunway Group Innovation Challenge, which looks to explore technologies that could enable autonomous or driverless vehicles on the roads around Sunway City and potentially on the BRT track, as well as the IJM Port of the Future Challenge, which seeks innovative solutions that could significantly improve safety and efficiency of port operation and logistics while creating a positive impact on the community and the environment.
Source: Media Release