3 days ago
Business Model Also A Form Of Innovation
ALOR SETAR, Aug 18 (Bernama) -- Innovation is not only confined to the creation of new products or technologies, but also includes business models that play a crucial role in strengthening and advancing enterprises.
Yayasan Inovasi Malaysia (YIM) chief executive officer Dr Sharmila Mohamed Salleh said some products may not be easily modified to remain competitive, but an effective business model covering management, sales and customer engagement can open new market opportunities.
'As an example, in tanjak-making (traditional Malay headgear), many places produce similar designs, perhaps because they learned from the same teachers. Some designs are also tied to royal insignia, which cannot be altered.
'In such cases, business models become the driver of innovation,' she said after visiting a tanjak-making workshop in Kampung Telaga Tengah, Mukim Gunong near here today, in conjunction with the Northern Zone Innovation Trail Programme.
She said YIM is ready to assist entrepreneurs in identifying areas of innovation that can be tapped by linking them with innovators, including researchers from nearby universities.
'We will provide solutions within our ecosystem. If unavailable, we will engage local researchers. For example, in Kedah, we can approach Universiti Utara Malaysia to see if they have suitable solutions,' she said.
As an agency under the Ministry of Science, Technology and Innovation (MOSTI), YIM will continue to strengthen its role in driving grassroots innovation through high-impact projects that emphasise inclusive and sustainable community development.
Meanwhile, in conjunction with today's Innovation Trail Programme, YIM also organised the Youth Innovative Challenges (YIC) competition at Albukhary International University, featuring creations by students from diploma to bachelor's degree level.
Participating institutions included Kolej Komuniti Langkawi, Kolej Vokasional Alor Setar, Politeknik Sultan Abdul Halim Muadzam, Universiti Sains Malaysia and UniKL MSI (Malaysian-Spanish Institute).
