MaGIC inks pact with 14 GLCs, private sector

August 8, 2017 | By | Reply More

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KUALA LUMPUR: Malaysian Global Innovation & Creativity Centre (MaGIC) has inked a strategic partnership with 14 government-linked companies (GLCs) and private sector players on the sidelines of the GLC ExplorAce Conference.

The partnership will combine MaGIC’s network of creativity and innovation programs with the private sector players’ industry expertise to support entrepreneurship development in Malaysia and drive national innovation.

The 14 GLCs and private sector players among others include Standard Chartered Bank, Petroliam Nasional Bhd, Malaysian Resources Corporation Bhd, Malaysia Rail Link Sdn Bhd, MIMOS Bhd, MRT Corp, UEM Group, Malayan Banking Bhd, Collaborative Research in Engineering, Science & Technology (CREST).

Together, these companies will be joining their peers as members of the MaGIC CER Circle under the MaGIC Corporate Entrepreneurship Responsibility (CER) platform, a national initiative to facilitate greater corporate and private sector involvement as the next major thrust of developing Malaysia’s entrepreneurship ecosystem.

MaGIC chief executive officer Ashran Datuk Ghazi said companies must innovate to future-proof their business and confront disruption happening in their sector.

Corporates can rapidly innovate, disrupt existing business models, bring more agility to operations and drive bottom line growth by engaging with entrepreneurs who are on the cutting edge of new skills, he added.

“This is why we are pushing the private sector to be actively involved in our thriving local entrepreneurship community and unlock a wealth of economic possibilities by collaborating with startups that were previously difficult to access.”

The 14 partners are an addition to the first 20 partners announced during the CER launch at MaGIC on June 9 this year which includes AIA Bhd, CIMB Group Holdings Bhd, IBM Malaysia, IJM Corp Bhd, Media Prima Bhd, Allianz, UNICEF, Microsoft, Setia Haruman, Sunway Ventures, Telekom Malaysia Bhd and United Nations among others.

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