Hi, it’s Edmund.
What makes an innovation hub?
Essentially, it’s an ecosystem of incubators, accelerators, and venture capital that aims to develop disruptive technologies before bringing them to market.
In the post-pandemic landscape with an emerging remote and hybrid workplace, there is a perception that creativity and innovation can take place literally anywhere, given how collaboration has become increasingly virtual.
But can innovation truly be carried out anywhere?
Not really, according to a 2021 KPMG technology industry survey of more than 800 global leaders in the tech industry.
According to the KPMG study, almost twice as many global technology company leaders believe that physical hubs are still important in driving technology innovation as opposed to those who believe they are not. And 78% say they will not be downsizing their physical footprint.
Despite the advances in communications technologies, there is little substitute for creative problem-solving carried out in person, such as whiteboarding, mentoring, idea sharing, and concept refining. And a physical innovation center continues to facilitate this.
For the Malaysian Research Accelerator for Technology and Innovation (MRANTI), the country’s central research & innovation commercialization agency, there is no doubt that a physical innovation hub plays a crucial role in driving economic growth. This is why it is pulling out the stops to develop and market MRANTI Park, a technology park in Malaysia that provides 4IR-ready infrastructures & integrated facilities for innovators & businesses to accelerate the innovation process.
According to Dzuleira Abu Bakar, CEO of MRANTI, there is an urgency to optimize the return on innovative ideas. Find out more about what she has to say on the need to unlock greater value in a technology and innovation ecosystem here.
RECENT POSTS
The Bullet: Southeast Asia — Simple Innovation Solving Big Problems
Tesla earns 8 times more profit than Toyota per car
Japan looks to Thailand for bioethanol that doesn’t fuel food insecurity