PRESS RELEASE: UTM CHAMPIONS ‘CO-OPETITION’ IN R&D AND ENTREPRENEURSHIP VIA SWISS INNOVATION CHALLENGE ASIA
In this fast paced, rapid evolving era of competition, innovation and entrepreneurship are key drivers to competitive advantages of businesses. Coopetition or co-opetition, a neologism coined to describe cooperative/collaborative competition, is seen to contribute to a higher value creation of products and services when compared to the value created without interaction with partial congruence of interests. The phenomenon of ‘coopetition’ takes place when companies that are in the same market work together in the exploration of knowledge and research of new products, at the same time that they compete for market-share of their products and in the exploitation of the knowledge created. Seeing coopetition as one of the main drivers towards high-impact R&D and entrepreneurial activities, UTM’s International Business School (IBS), along with the University of Applied Sciences and Arts Northwestern Switzerland (FHNW) is working together in championing ‘coopetition’ strategies of businesses, researchers, government bodies and NGOs in Asia, particularly in R&D and entrepreneurship.
The Swiss Innovation Challenge Asia Project, a prestigious international collaboration between Malaysia and Switzerland, strongly supported by MOSTI as well as the Federal Commission of Technology and Innovation, Switzerland, targets to groom 100 potential innovative businesses while exposing them to the international markets. A total of seventeen significant events are planned throughout 2017, each with its own unique methodology, and via joint contributions from industry and academia experts. Special events involving industry-academia networking and input are scheduled, with one of them highlighting the needed collaborations between industry and academia in the country, and focusing on ways such collaborations may be established and sustained, i.e. the Swiss-Malaysian Industry-Academia Forum happening in May (to be participated by the Swiss-Malaysian Business Association members, industry players, academia, students, researchers, NGOs, government bodies, and to be graced by the Switzerland Ambassador to Malaysia, the Minister of Higher Education and the Minister of International Trade and Industry).
The Swiss Innovation Challenge Asia, being a CSR project of both nations, seeks to champion ‘coopetitive’ strategies that would work at international levels. As such, only potential innovative ideas and novel creations with value added features are selected to be groomed to become global entrepreneurs, equipped with global standards and mind set. The Swiss Innovation Challenge Asia seeks to establish new forms of collaborations, encompassing the industry and academia, both local and at international levels. These collaborative agreements may come in both tangible and intangible forms, and would be the kick-starter to a long-lasting professional relationship. Details of the Project can be found at www.swisschallenge.org. Enquiries can be made to the following contact person:
Dr. Rahayu Tasnim
Swiss Innovation Challenge Asia Project Director
International Business School, UTM Kuala Lumpur
03-21805026 / 016-7024622