PM: Innovation is key to propel Malaysia forward

CYBERJAYA: Innovation is the 'key mechanism' that will propel Malaysia forward, and it is up to the private sector to generate the income the country needs to become a high-income economy.So said Prime Minister Datuk Seri Najib Razak this morning, adding that in order to achieve the bold ambitions set out in the New Economic Model (NEM), Malaysia must first change the way things have been done and “efforts to innovate must be intensified at a relentless pace.”Speaking at the launch of the 'Malaysia: Innovation Nation' convention at Limkokwing University of Creative Technology here, Najib said a highly evolved "innovation ecosystem” would be able to bring change to the country, increase its economic status and also the quality of life of its citizens.


He said by creating the right environment, this ecosystem would also enable the private sector to generate the income the country needs. This could be done by enabling participants to work across enterprise boundaries, focus on customer value creation, respond swiftly to shifts in market demand and accelerate transition from research to production.Najib said the government, too, must play a role in the creation of a sustainable innovation ecosystem. “Decision-makers in the government must become conversant with innovation. This will enable them to formulate frameworks, regulations and policies that support innovation and not hinder its growth."Funding is critical, said Najib, adding that it was time that the government streamline funding sources to optimise its Return on Investments (ROI).“How much of the research money actually leads to eventual commercialisation? What is that figure? That, I would like to know.”He said innovation must be nurtured in the country’s education system as both analytical and critical thinking skills were important requirements for creating an innovation ecosystem.

Najib said at the moment, Malaysia lacked a two-way flow of talent between universities and industry. He said the flow was needed "to enable the infusion of innovation methodologies and best practices from industry into the academia, resulting in universities becoming the hotspots for innovation,” instead of merely focusing on research.The prime minister also said the new unit ‘Unit Inovasi Khas' (Unik) which he announced last week, would start in two weeks time to begin identifying solutions to address gaps in the innovation ecosystem.
Meanwhile, the National Innovation Centre, the implementation arm of Unik, would be placed under the Prime Minister’s Department in its formative years before it can fall under the purview of the Science, Technology and Innovation Ministry (Mosti).Organised by Limkokwing, the convention addresses the importance of innovation and a creative workforce as a tool to move Malaysia ahead in the global arena of the 21st century.The convention today was attended by some 500 delegates from various NGOs, governmental, academic and professional sectors as well as students.

The day-long convention featured speakers comprising government leaders and professionals, including Mosti Minister Datuk Seri Dr Maximus Johnity Ongkili, Multimedia Development Corporation chief executive officer Datuk Mohd Badlisham Ghazali, SMI Association of Malaysia national president Chua Tiam Wee, Malaysian Educational Management and Leadership Association president Professor Datuk Dr Ibrahim Ahmad Bajunid, and Media Prima Berhad chairman Datuk Johan Jaafar.

Source :  http://www.mmail.com.my/print/content/43754-pm-innovation-key-propel-malaysia-forward