MaGIC, MESINIAGA TIE UP ON INNOVATION LAB
Firm and agency plan to launch eight mart-ready products by end-2018
KUALA LUMPUR
Malaysian Global Innovation & Creativity Centre (MaGIC) recently announced a strategic partnership with Mesiniaga Bhd to collaborate on the newly-launched Bright Side Innovation Lab (Bright Side).
Bright Side aims to instill a culture of innovation in Mesiniaga, encouraging creative thinking to solve problems, promoting and supporting entrepreneurship, as well as reducing the time required to build and deploy quality solutions. It will provide Mesiniaga’s employees with an avenue to validate business ideas, equip themselves with the crucial skills and capabilities, and bring their products to market with the help of accelerator partners.
In a statement, Mesiniaga chairman and chief executive officer Datuk Wan Mohd Fusil said the company must embrace the culture of innovation and change to stay relevant for the next decade and help customers succeed.
“We must transform into a culture that instills innovation and discovery as our daily practice, making us at par with the everevolving industry around us.”
Together with Mesiniaga, MaGIC will participate in Bright Side by offering advisory and mentorship support, providing training and workshops to build capabilities, as well as sharing its extensive knowledge and experience in running accelerators.
Bright Side will be integrated into the structure of Mesiniaga and be modelled after a pre accelerator programme, with a focus on validating business idea and designing a go-to-market strategy.
It will have six key stages — problem solicitation; idea submission; idea selection; business design and selection; development, go-to-market and validation; and funding and spin-off.
MaGIC will help facilitate the startup collaboration process during the fifth stage — development, go-to-market, and validation — where 16 minimum viable products are shortlisted.
The innovation lab aims to launch eight new, market-ready products or services by the end of next year.
These new solutions will either be introduced as a new offering within Mesiniaga, or spun-off into a stand-alone subsidiary to open the door to wider market opportunities.