News Highlights
Open innovation – Benefits and difficulties in partnering with other firms
Sunday, December 5th, 2010
This article by Hasannudin Saidin, CEO of InnovationXchange Malaysia was published in the 20 November 2010 to 03 December 2010 edition of Malaysia SME newspaper. This is the subsequent part of series on the subject of open and collaborative innovation for SMEs after the first published article from 6 to 19 November.
In this article, Hasannudin lines out some benefits and difficulties for SMEs in partnering with others particularly larger firms which can be achieved by the change of mindset. Understanding the benefits and difficulties are important for effective collaborations.
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Open innovation: The way forward for sustainable advantage
Saturday, November 20th, 2010
This article by Hasannudin Saidin, CEO of InnovationXchange Malaysia was published in the 6 to 19 November edition of Malaysia SME newspaper. This is the first in a series of articles in this newspaper for about 6 months, on the subject of open and collaborative innovation for SMEs.
In this introductory article in the series, Hasannudin shares a definition of innovation in general, and goes on to discuss open innovation for Malaysian SMEs.
Photos in the article are from the Ask InnovationXchange Luncheon Forum on 28 October 2010.
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Collaborative innovation for business growth
Tuesday, November 9th, 2010
Malaysia SME newspaper in its previous edition (23 October to 5 November), page 44 reported on “Collaborative innovation for business growth”.
For full view of image, click image once, then once more:
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InnovationXchange Malaysia Launches Knowledge-Sharing Platform
Thursday, October 28th, 2010
October 28, 2010 16:54 PM
From: http://bernama.com.my/bernama/v5/newsindex.php?id=539063
InnovationXchange Malaysia Launches Knowledge-Sharing Platform
KUALA LUMPUR, Oct 28 (Bernama) — InnovationXchange (IXC) Malaysia on Thursday launched Ask InnovationXchange, a platform for industry experts and top executives to share their experience and insights in cross-industry collaborations and innovations.
The aim is to build trust to create opportunities for companies in various sectors as well as institutions worldwide, said chief executive officer Hasannudin Saidin.
“This is an open platform where we invite business partners, government agencies, research institutions, members of acedemia and social organisations to join our conversation on innovation,” he said during the launch here.
“We are not focusing on particular sectors to participate in this platform. It is free and open to multiple sectors. Currently, the participants are from university research groups as well as small and medium enterprises,” Hasannudin said.
“This platform is translating into action towards Prime Minister’s call during the 10th Malaysia Plan tabled in June this year, to make an innovation as an important factor in realising the targeted gross development product growth of six per cent for annum,” he said.
“We seek to propose the concept of ‘open innovation’ through this knowledge-sharing platform and we believe it would raise awareness for collaboration as a form of innovation.”
According to Hasannudin, open innovation is a concept that bring about accelerated inflow and outflow of knowledge, for the purpose of achieving social or economic value.
“Such acceleration in knowledge-sharing can lead to superior results as compared to the closed model, ultimately achieving what we identify as collaborative advantage,” he said.
InnovationXchange Malaysia, which was launched in October last year, is a not-for-profit, commercially neutral organisation established as a trusted hub for collaborative innovation.
– BERNAMA
Update 31 October 2010: Yahoo! news picks up Bernama report:
http://malaysia.news.yahoo.com/bnm/20101028/tbs-innovationxchange-platform-ceeeaba.html
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InnovationXchange Malaysia lancar platform perkongsian pengetahuan
Thursday, October 28th, 2010
From: http://news.mylaunchpad.com.my/local/BM/article?Key=0aa637a6-4d8b-410a-8b54-29583d7df68a
InnovationXchange Malaysia lancar platform perkongsian pengetahuan
KUALA LUMPUR, (Bernama) – InnovationXchange (IXC) Malaysia hari ini melancarkan Ask InnovationXchange, platform bagi pakar-pakar industri eksekutif terkemuka untuk berkongsi pengalaman dan pandangan mereka dalam kerjasama dan inovasi rentas industri.
Tujuannya adalah untuk membina keyakinan bagi mewujudkan peluang kepada syarikat dalam pelbagai sektor serta institusi di seluruh dunia, kata Ketua Pegawai Eksekutifnya Hasannudin Saidin.
“Ini adalah platform terbuka di mana kami mempelawa rakan kongsi perniagaan, agensi kerajaan, institusi penyelidikan, ahli-ahli akademik dan pertubuhan sosial untuk menyertai perbincangan dan inovasi kami,” katanya semasa pelancaran itu di sini.
“Kami tidak menumpukan kepada sektor-sektor tertentu untuk menyertai dalam platform ini. Ia percuma dan terbuka kepada pelbagai sektor. Ketika ini, para peserta adalah daripada kumpulan penyelidikan universiti serta perusahaan kecil dan sederhana,” kata Hasannudin.
“Platform ini adalah untuk menterjemah kepada tindakan ke arah gesaan Perdana Menteri semasa pembentangan Rancangan Malaysia Ke-10 pada Jun tahun ini, untuk menjadikan inovasi sebagai faktor penting dalam merealisasikan sasaran pertumbuhan keluaran dalam negara kasar enam peratus setahun,” katanya.
“Kami mahu mencadangkan konsep ‘inovasi terbuka’ menerusi platform perkongsian pengetahuan ini dan kami percaya ia akan meningkatkan kesedaran bagi kerjasama sebagai satu bentuk inovasi.”
Menurut Hasannudin, inovasi terbuka adalah konsep yang membawa kepada peningkatan aliran masuk dan aliran keluar pengetahuan, bagi tujuan mencapai nilai sosial atau ekonomi.
“Peningkatan perkongsian pengetahuan seumpama itu boleh membawa kepada keputusan yang baik berbanding dengan model tertutup, kelaknya dapat mencapai apa yang kita kenal pasti sebagai kelebihan kerjasama,” katanya.
InnovationXchange Malaysia, yang dilancarkan pada Oktober tahun lepas, adalah pertubuhan bukan keuntungan yang ditubuhkan sebagai hab dipercayai bagi inovasi kerjasama.
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Press Release: “Ask InnovationXchange” launched with aim to foster collaborative innovation
Thursday, October 28th, 2010
Press Release – for immediate release
“Ask InnovationXchange” launched with aim to foster collaborative innovation
First-of-its-kind online knowledge-sharing platform by InnovationXchange Malaysia looks to build trust to create valuable opportunities
Kuala Lumpur, 28 October 2010 – InnovationXchange (IXC) Malaysia today announced the inauguration of “Ask InnovationXchange,” a first-of-its-kind online knowledge-sharing platform where industry experts and top executives can come together to share their experience and insights in cross-industry collaborations and innovations.
The 10th Malaysia Plan tabled in June 2010 by the Prime Minister Datuk Seri Najib Tun Razak revealed that innovation will be an important factor in realizing the targeted GDP growth of 6 percent per annum. Translating the Prime Minister’s call into action, InnovationXchange Malaysia seeks to propose the concept of “Open Innovation” through its “Ask InnovationXchange” knowledge-sharing platform.
“This is an open platform where we invite business partners, government agencies, research institutions, members of academia, and social organisations to join in our conversation on innovation. It is through such discourse which we believe can raise the awareness for collaboration as a form of innovation,” said En. Hasannudin Saidin, Chief Executive Officer of InnovationXchange Malaysia.
“Collaborative innovation has been proven effective. Globally, over the last two years, we have created over 500 opportunities in 18 countries, with 87% of the initial meetings resulting in continued discussions between the parties to develop business or research engagements. Our activities have been associated with business outcomes estimated at USD250 million,” En Hasannudin added.
Central to the launch was the commencement of an industry forum, which saw the mechanics of “Ask InnovationXchange” being brought to live in front of an attending crowd consisting of head of governing institutions, industry experts, corporate executives, SME business owners, academicians, and researchers.
Leading the forum discussions were Dr. Reevany Bustami, Chairman of CSR-Philanthropy Transdisciplinary Action Group at Universiti Sains Malaysia (USM), Mr. Chuah Jern Ern, Chief Executive Officer of Advanz Fidelis, Mr. Christopher Tan, Associate Editor of Malaysia SME newspaper and Dr. Darren Coomber, Chief Executive Officer of InnovationXchange Australia.
The need for collaborative innovation
As global markets get ever more connected, businesses and organisations can no longer inspire, create or design on their own. The previous model of closed, insular innovation is no longer the way forward, and the notion of achieving competitive advantage needs to be re-looked and re-accessed.
“Open innovation is a concept that can bring about accelerated inflow and outflow of knowledge, for the purpose of achieving social or economic value. Such acceleration in knowledge-sharing can lead to superior results as compared to the closed-model, ultimately achieving what we identify as collaborative advantage,” said En. Hasannudin. “No one can work alone in today’s competitive market. In order to continuously compete, one must collaborate to innovate.”
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About InnovationXchange
Launched in October 2009 by the Deputy Prime Minister, YAB Tan Sri Muhyiddin Yassin, InnovationXchange Malaysia (IXC Malaysia) is a not-for-profit, commercially neutral organisation established as a trusted hub for collaborative innovation. Leveraging on its “Human Wiring” principle, InnovationXchange fosters connections that encourage exchange of information and ideation of valuable opportunities.
Central to the development of these connections are the IXC Intermediaries®. They assist organisations in connecting to the power of global industrial and research networks using the InnovationXchange’s unique methodology while adhering to strict legal and ethical guidelines.
With a present network in Malaysia, Australia, and the United Kingdom, InnovationXchange currently serves over 90 clients across seven countries across the world. The unique commercial neutrality of IXC Intermediaries® enables them to access and collaborate with other IXC Intermediaries® from around our global network to identify and search for potential collaborative opportunities and engagements focused on solving problems, generating new ideas and creating opportunities for business growth.
For media queries, please contact:
InnovationXchange Malaysia Berhad
Nurika Abdullah
Telephone: (+603) 2776 6868, Fax: (+603) 2776 6999
E-mail: nurika-AT-ixc-DOT-com-DOT-my
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InnovationXchange to help SMEs find partners
Thursday, October 28th, 2010
Thursday, October 28, 2010, 08.00 AM
From: http://www.btimes.com.my/Current_News/BTIMES/articles/ixc/Article/
InnovationXchange to help SMEs find partners
By Azlan Abu Bakar
SMALL- and medium-scale enterprises (SMEs) seeking external partners may encounter problems caused by limited resources, time constraint and day-to-day operational issues.
SMEs, which represent more than 99 per cent of businesses in the country, often have a very strong network in their immediate industry.
However, outside their field of expertise, contacts tend to be limited, preventing them from enjoying higher growth and reaching bigger and more markets.
“In today’s open and global knowledge economy, international linkages are critical, particularly between business and research organisations,” InnovationXchange (IXC) Malaysia chief executive officer Hasannudin told Business Times in Petaling Jaya, Selangor, that the company has the connection to link firms to tap the capabilities and technologies needed for innovation and business growth.
He added that such links were still not strong possibly because companies or research institutions faced difficulties in finding suitable partners or business ventures.
“InnovationXchange is about connections, collaboration and openness,” he said.
Hasannudin said the establishment of IXC Malaysia as part of the international IXC network will enable Malaysian firms, research institutes and universities to identify collaborative opportunities quickly and safely.
IXC Malaysia is funded by the government, but expects to be self-sustaining by 2013.It currently has six clients, mainly in the information technology sector.
“Through our international connection and links with IXC Australia and IXC UK, we are able to look for suitable partners for a company around the world should it fail to find a suitor in its home country,” he said.
Hasannudin said it has a long list of firms and their backgrounds in its vault that it can use to match for potential ventures.
“The list of companies we have is huge, thus the potential to successfully link two companies together for a business is very high,” he said, noting that its success rate stands at more than 86 per cent.
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IXC targets investors & partners for USM & SMEs by year-end
Saturday, August 14th, 2010
GEORGE TOWN: IXC (InnovationXChange) Malaysia Bhd aims to find investors and technological partners for Universiti Sains Malaysia (USM) and six local small and medium sized enterprises (SMEs) before the end of the year.
IXC chief executive officer Hasannudin Saidin told StarBizWeek the company was now looking for suitable partners both locally and overseas to either invest or form technological partnerships with USM and the six SMEs, which were clients of IXC.
Hasannudin said IXC was targeting to work with another six SMEs by the end of 2010.
Read full article here.
By David Tan
davidtan@thestar.com.my
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Australia and Malaysia to strengthen collaboration on innovation efforts
Tuesday, June 8th, 2010
Click here for the full article with more photos.
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InnovationXchange at “Muslim World Conference & Exhibition”
Tuesday, June 1st, 2010
InnovationXchange Malaysia (IXC Malaysia) is proud to take part in the Muslim World Conference 2010, also known as MuslimsBIG 2010 Business & Investment Gala, from 4 to 6 June 2010, at PWTC (Putra World Trade Centre), Kuala Lumpur.
An ideal gateway to explore Joint Venture, Investment and Trade opportunities, InnovationXchange Malaysia aims to highlight the concept of connections via “human-wiring”, and benefits of collaborative innovation to businessmen, entrepreneurs, international investors and buyers from all parts of the world.
The event is projected to have participation from US, Europe, Central Asian Republics, China, India, Far East and other parts of the world to enhance Business and Trade Opportunities with the Islamic World.
Visit our exhibition booth and talk to the IXC Intermediaries® to discover how we can help your organization to innovate.
Join us at the PWTC Tun Hussein Onn Hall on 5 June, 3:00 PM for a stimulating discourse on open innovation by InnovationXchange Malaysia’s CEO, Mr. Hasannudin Saidin.
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