Source from (Business Times): http://www.btimes.com.my/Current_News/BTIMES/articles/hafsahnice/Article/
Published: February 19, 2013
Indeed, the Prime Minister was very serious about getting Malaysians to be innovative, for he believed that being innovative is the only way to progress. Innovation is not only about creating new ideas. In fact, it is a process of creating new ideas up to the point of commercialisation. Today, innovation is not only a core ingredient for businesses to thrive, but it also provides a footing for businesses to penetrate the global market, and at the same time remain competitive.
For SME Corp Malaysia, the journey through innovation started in 2009 when chairing the National SME Development Council (NSDC) Meeting, the Prime Minister directed SME Corp to award RM1 million to the most innovative SME. The decision by the Prime Minister reaffirmed his commitment that the government will take on the innovation path as it seeks game-changers that would push the country's growth to the next level, in our aspiration to attain a developed nation status by 2020.
Determined to do it right the first time, and right every time, SME Corp Malaysia had scanned through the world's best practices on how innovation could be measured and evaluated at firm level. The South Korean model of Inno-Biz fitted us best. After doing a pilot test on the Korean model, the year 2010 witnessed the emergence of the first ever "SME Innovation Award" as we began to scout for the nation's most innovative SMEs.
This cycle of "SME Innovation Award 2013" will again reward the most innovative SMEs in six categories - Manufacturing, Services, ICT & Electrical & Electronics, Engineering & Industrial Design, Biotechnology & Agro Technology, and last but not least, Green Technology.
If your company has the ingredients for being innovative, you might be the next millionaire! At the very least, you can first aim for the category winner where you can expect to walk away with RM200,000! Subsequently, you can be considered for the RM1 million award for the Most Innovative SME. Winners will also benefit from the Green Lane Policy which was announced in the year 2011 where companies will be given priority access to Government Procurement, financial assistance and tax incentives. In addition, winners will also benefit from the customised assistance programmes provided by SME Corp Malaysia such as business linkages, market access, coaching and even access to financing.
What is certain is the fact that the award provides a platform to boost the winner's visibility not only in the domestic but also international markets. Various promotion and publicity opportunities provided by the media have increased the chances of innovative companies to create networks as well as building strategic business partnerships and with large companies and MNCs. This fact is reaffirmed when l recently had the opportunity to chat with the past winners of the SME Innovation Award during a networking session a few weeks ago. I was really overwhelmed to hear of the outstanding positive growths that these companies have achieved after receiving the award.
For example, the 2010 SME Innovation Award winner, IC Microsystems Sdn Bhd (ICmic), which is involved in Integrated Circuit (IC) design and IC product development, has ventured into new international markets by creating new products such as Touch-Screen Controller and Power Management Integrated Circuits (ICs). Apart from its market presence in the US and Europe, ICmic has now spread its wings in Brazil, Indonesia and several other countries.
For ProEight Offshore Engineering Sdn Bhd, winning the title of the Most Innovative SME in 2011, has propelled its name to another level where the company is now recognised internationally. Engaged in designing, manufacturing and refurbishing of a precision mechanical seals and sealing support system, the company has been taking innovation seriously, which today, has made it ahead of its competitors. As I pen this article, it is with pride that I share the fact that ProEight has today established international business relationships with its counterparts in Thailand, Turkmenistan, Oman and Switzerland.
And, Penchem Technologies, a manufacturer of high-performance adhesives and silicones, especially for the electronic and automotive industries, has an interesting twist to its innovation journey. I remember visiting the company in Penang to witness the launch of the commissioning of the company's silicone production plant by Datuk Seri Mustapa Mohamed, after being awarded with the Most Innovative SME in 2012.
Not only has Penchem set up an Advanced Materials Laboratory, equipped with more than RM2 million worth of sophisticated analysis equipment to increase the quality and performance of their products catered to their major clients in the US and Germany, it is now recognised internationally and has penetrated new unconventional markets since winning the award!
Learning of their journey through innovation, where these SMEs have made us Malaysians proud of their achievements, l do hope that the younger generation will now be inspired to innovate and create an economy that is built to last! Remember the basic rule of innovation - as it comprises new ideas, by definition, it will not be accepted at first. It takes repeated attempts, endless demonstrations and mono-tonous rehearsals before innovation can be accepted and internalised by an organisation. And this requires lots of courage and patience! So if you are up for the challenge, don't forget to send in your application now as the closing date for this award is 31st March. Who knows, you will be the next innovative millionaire!
Before I pen off, I hope that it is not too late to wish all Chinese readers "Gong Xi Fa Chai", and that you'll have a happy and prosperous Year of the Snake ahead!
Datuk Hafsah Hashim is the chief executive officer of Small and Medium Enterprises Corporation Malaysia (SME Corp Malaysia)
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