MaGic eyes RM100 million value creation over next two years

CYBERJAYA: The Malaysian Global Innovation and Creativity Centre (MaGIC) aims to generate about RM100 million in value creation over the next two years through innovation challenges organised by corporations for startup companies.

Chief executive officer, Ashran Ghazi said programmes such as the MaGIC Corporate Entrepreneurship Responsibility (CER) Circle and MaGIC Activate under the MaGIC CER platform would allow corporations and entrepreneurs to boost their growth.

“MaGIC CER Circle is a ‘membership’ platform which connects corporations and startup communities, and help them to capitalise on technologies and build a continuous innovative pipeline through partnerships.

“MaGIC Activate is a platform to help corporations organise innovation challenges, pilot contracts or potential investments to reach out to more startups and entrepreneurs ,” he told reporters after the launch of the MaGIC CER Circle and MaGIC Activate programmes by Deputy Minister of International Trade and Industry, Datuk Ahmad Maslan yesterday.

“We expect to achieve a minimum of RM2 million in value creation per challenge under MaGIC Activate,” he said, adding that it currently has 22 corporate partners offering innovation challenges, including AIA, CIMB, IBM and IJM Corp.

Meanwhile, during the launch, Ahmad said the CER would be a turning point for greater corporate sector involvement in entrepreneurship development, representing the Malaysian spirit of teamwork to drive the country’s growth.

“I would like to encourage other corporations and Malaysian entrepreneurs to participate in these initiatives, especially MaGIC CER Circle and MaGIC Activate, and explore how you can benefit from these programmes,” he added. — Bernama

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