[Press Release] PlaTCOM HIP2 Success Showcase 2017

PlaTCOM HIP2 Success Showcase 2017

21 SMEs assisted by PlaTCOM showcase success stories of commercialising their innovations

Kuala Lumpur, 20 July, 2017 – PlaTCOM Ventures Sdn Bhd today showcased success stories of 21 companies under its High Impact Programme 2 (HIP2). The companies are the first cohort of companies under HIP2 that PlaTCOM has assisted to bring their innovations to the market for commercialisation from whatever stage of the commercialisation process each company was at prior to engaging PlaTCOM.         

The inaugural event was officiated by YB Dato' Sri Mustapa Bin Mohamed, Minister of International Trade and Industry (MITI) and YB Dato' Sri Hajah Nancy Shukri, Minister in the Prime Minister's Department.

Dato’ Sri Mustapa in his speech said: “The contribution of the business community to national competitiveness is important. It needs to be recognised and supported. This is the essence of the many programmes and initiatives undertaken by Agensi Inovasi Malaysia (AIM), SME Corporation Malaysia (SME Corp) and PlaTCOM Ventures.”

“These 21 HIP2 companies and their market resilience, as seen through their ongoing perseverance inculcating and strengthening innovativeness within their respective sectors, is a demonstration of Malaysian SMEs’ outstanding ability to compete,” he added.

Dato’ Sri Nancy said the 21 companies intangible value in stimulating the minds of other market players in their respective sectors. This is achieved through new combinations and iterations of products and services with enhanced marketability and utility, and altogether new products and services that are no longer nice-to-haves but must-haves, in a world that demands businesses to stay relevant by adapting and evolving to meet the ever-changing needs of their markets or be left behind”.

“The combined impact of innovating companies in Malaysia will help create a better future for the country, as well as increase the wealth of our nations with new activities that stimulate the sectors in our economy,” she added when delivering her speech.

At the event, each of the 21 companies showcased their innovations and the products in the market, and some shared their journeys to commercialise their innovations. Also featured were talks on investment strategies, market expansion and business productivity. These 21 companies received certificates of congratulations from both Ministers for their success in commercialising the innovations supported through HIP2.

Apart from the showcase, the event also introduced five innovations which will be commercialised this year. The five companies received a certificate each for the selected innovations from AIM CEO, Datuk Mark Rozario and SME Corp CEO, Datuk Hafsah Hashim.

Datuk Rozario noted that the event marked an important development in PlaTCOM Ventures' initiatives and existence as the national technology commercialisation platform.

“Through the success stories of these innovative SMEs and start-ups, AIM wishes to encourage other players out there in the country's commercial markets to understand that, they too, can become competitive by innovating their businesses.”

"The main agenda is to be innovative in order to remain competitive and relevant against today's challenges of fierce competition, realising that there are huge opportunities for those who are innovators," he added.

PlaTCOM Ventures Sdn Bhd Chief Executive Officer Dr. Viraj Perera said the company has signed up over 100 companies under HIP2 over the past four years. “For this showcase, we are celebrating 21 commercial successes of the companies we admitted into HIP2, as well as inspire other SMEs to innovate and grow the national economy. With the right skills, the right intentions and targeted support mechanisms, Malaysian SMEs can stand tall at the global stage.”

PlaTCOM Ventures Sdn Bhd was set up and launched in April 2014 and three years on, the company has achieved a significant milestone in implementing HIP2 and reaching innovative Malaysian SMEs with its end-to-end facilitation services. The HIP2 model addresses the innovation gaps through a holistic and 'market-driven' approach in supporting innovation and industrial competitiveness. It is designed to remove market and financing barriers to innovation.

The major benefits of this innovative commercialisation model will be de-risking the risks involved for SMEs to develop products and services with lower costs and faster time-to-market, leveraging on trusted technologies from across Malaysia and overseas and receiving technology transfer and commercialisation support to further develop innovations.

HIP2 provides necessary support from 'concept to commercialisation'. This is done through the provision of access to technical assistance, market intelligence, incubation facilities, testing facilities and other relevant services - all in a single platform.