Agensi Inovasi Malaysia (AIM) has closed down due to the end of its mandate as a statutory body.
Agensi Inovasi Malaysia (AIM) is a statutory body created to jump start wealth creation through knowledge, technology and innovation to stimulate and develop the innovation eco-system in Malaysia. They lay down the foundation of innovation that inspire and produce a new generation of innovative entrepreneurs.
This is achieved by facilitating collaboration between government, academia and industry in advancing the consolidation and execution of new ideas in innovation.
AIM’s Vision, Mission and Objectives
- Wealth creation through knowledge, technology and innovation.
- To stimulate and develop the innovation eco-system in Malaysia towards achieving Vision 2020.
- Generate additional revenue and contribute to Malaysia’s GDP.
- Provide additional jobs for the Malaysian workforce.
- Inspire and produce a new generation of innovative entrepreneurs.
- Facilitate the evolution of Malaysian companies into major global players.
- AIM has been established to be the torchbearer for innovation in Malaysia. That pockets of innovation do exist is evident from the country being ranked 28 out of 132 countries in the Global Innovation Index (2009 – 2010) by the European Institute for Business Administration.
Does AIM fall into any jurisdiction of any ministry?
AIM does not fall under the jurisdiction of any Ministry. This makes it easier to employ a whole-of-government approach in its operations. AIM will cut across boundaries to engage with all Ministries and agencies on any matters relating to innovation to ensure the entire country’s efforts are being effectively focused on accomplishing Malaysia’s national innovation agenda.
Who governs AIM?
Innovation involves both the public and private sectors, so there is evidently a need for representation from each side. A council chaired by the Prime Minister with five Ministers and 10 eminent persons from industry, academia and other organisations including non-governmental organisations and public-listed companies governs AIM. This balanced membership ensures perspectives from both the public and private sectors will be taken into consideration, resulting in well-informed decisions regarding innovation.
Any long-term strategic programme must take into consideration youths to ensure sustainability. If we are to be a nation that is innovative, effort must be taken to develop a workforce that is equipped with critical and analytical thinking skills from the school level. In short, the aim is to create generation that knows how to think as apposed to what to think.
Industry plays a huge and vital role in any economy and is often one of the key drivers for innovation. Additionally, compared with more developed nations, Malaysia’s industrial landscape is still in its adolescent stage where Small and Medium Enterprises (SME) dominate.
Therefore, AIM’s objective is to assist Malaysian SMEs in moving up the value chain through innovation by providing them opportunities to take advantage of innovation methodologies, policies and outcomes, as well as complementing the initiatives introduced by SME Corp. AIM’s role in this is to stimulate rapid new-wave wealth creation by commercialising research and development, as well as inventions and innovations that have been developed but not capitalised upon.
What if I am unsure of which Industry Stage my company falls in?
Between the large corporations and the SMEs in Malaysia lie a number of companies that currently suffer from the “Middle Child” Syndrome. Unlike large companies (which have the financial resources to take their business to another level) or the SMEs (which can turn to SME Corp for help), these Middle Tier companies appear to be “stuck” as they do not know where to seek aid from and eventually flounder in a valley of stagnation.
The majority of companies that fall into this category are successful family-owed businesses that have grown from humble beginnings to become multi-million ringgit organisations. While they have generated wealth for Malaysia, they seldom see the need to expand their target markets and upgrade their offerings.
To assist these companies, AIM will create an organisation to provide the support structure that will enable them to expand beyond their boundaries and transform into large Malaysian companies. The organisation’s strategy begins by identifying the roadblocks that are stopping innovation in these Middle Tier companies.
The next step would be to map out all resources, expertise and equipment existing in PRIs that can help these Middle Tier companies to innovate and instill an innovation methodology. Ultimately, all initiatives directed at industry will be with the aim of catalysing a private sector that is driven by innovation and contributes to the nation’s objectives of a high-income economy.
Jawatan Kuasa Pelaburan Dana Awama (JKPDA)
Jawatan Kuasa Pelaburan Dana Awam (JKPDA) is a specialized secretariat to drive the restructuring, streamlining and strengthening of public innovation funding mechanism for research, development, commercialisation and innovation (R,D,C&I). It operates under the Agensi Inovasi Malaysia (AIM) Governance Council and driven by a co-secretariat partnership between AIM and MOSTI.
JKPDA was established in December of 2012 by the Government to look at new and innovative ways to optimize the R,D,C&I public funding and to churn Return On Investments (ROIs) within Malaysia’s Innovation Eco System.
MARKETING PURPOSE & OBJECTIVES
Vision: To strengthen Malaysia’s innovation marketing eco-system by churning out world-class R,D,C&I output via the establishment of the country’s first Facilitation, Monitoring and Evaluation mechanism in order to achieve the vision 2020 and beyond aspiration.
To facilitate and avoid funding duplication and fragmentation of public innovation marketing funding by streamlining efforts;
To ensure R,D,C&I adherence to Malaysia’s growth priority areas and sectorial focus;
To instill Ministerial and Agencies collaborative efforts and initiatives for wealth creation from R,D,C&I activities and strengthening AIM’s quadruple helix initiatives.
ROLE OF JKPDA
- To advise the country’s R&D&C stakeholders and to promote R,D,C&I performance through the facilitation, disbursement, monitoring and evaluation of public innovation funding to Ministries and Government Agencies programs and projects.
- To encourage the general public, academia, researchers, investors, industries, entrepreneurs, government agencies in producing world-class research output and excellence; inline with the market and future driven requirements in order to prosper wealth creation, return on investments, economic and social impact to mobile users.
- To position Malaysia as a world-class research output hub via monitoring and evaluation (M&E) facilitation.
Intellectual Capital Development Committee
The Intellectual Capital Development Committee (ICDC) is chaired by the Minister of Kementerian Perdagangan Dalam Negeri, Koperasi dan Kepenggunaan (KPDNKK) and comprises 11 other prominent figures from related Government agencies, financial institutions and the academia. The members are Key Opinion Leaders (“KOL”) with experience, knowledge and influence in their respective fields. The first ICDC meeting was held at AIM.
PURPOSE & OBJECTIVES OF ICDC
Vision: To foster a landscape in Malaysia where ‘Intellectual Capital’ (IC) and ‘Intellectual Property’ (IP) that are recognised, accepted and valued.
Mission: To endeavour to nurture and develop ‘Intellectual Capital’ (IC) and ‘Intellectual Property’ (IP) for wealth creation in the country.
ROLE OF ICDC
- Accelerate the pace and scope of Intellectual Capital evaluation, which includes Intellectual Property (“IP”) asset creation, commercialisation and protection;
- Improve the framework of policies and institutions relating to IC and IP including the development and harmonisation of enabling IPR registration systems;
- Promote IC and IP corporation within the nation in strengthening IC and IP related to human and institutional capabilities nationally; and
- Foster greater public awareness of issues and implications relating to Intellectual Capital and Intellectual Property.
Social Impact Committee
The first SIC meeting was held at AIM.
PURPOSE & OBJECTIVES OF SIC Vision: To foster a Malaysia that is socially progressive, advanced and balanced in tandem with economic progress and developed nation status.
Mission: To enable an eco-system where social purpose organisations collaborate with private and government sectors to deliver effective and innovative marketing services for the wellbeing of the Rakyat.
ROLE OF SIC
- To advise and promote AIM’s Social Innovation agenda.
- To encourage the Rakyat to participate in seeking new solutions to old problems by inculcating creative problem-solving for real life community issues.
- To promote how social purpose organisations and private sector can play a bigger role in social intervention that supplement or complement the government’s efforts, resulting in a more positive impact to the Rakyat.
Investment Committee for Equity
The Investment Committee for Equity (ICE) is comprised of 9 prominent figures from the government and corporate sector with the objective of creating global success stories by working with companies that show potential to commercialize world class innovations.
PURPOSE & OBJECTIVES OF ICE
Vision: To be country’s driving force for commercialization of innovations with high multiplier effect on the economy.
Mission: To create new wave wealth through investment in innovative companies.
ROLE OF ICE
- To review and select companies for funding through equity participation and/or other financing instrument by AIM.
- To review investment updates from AIM during ICE meetings and provide advice for further actions that AIM should undertake in relation to the investee companies’ performance.
- To ascertain that investments in these companies are in keeping with AIM’s policies and procedures and that management is in compliance with legislation, rules and regulations.