BUDGET 2018 : MaGIC encouraged by government's pledge to create ecosystem for innovation

PETALING JAYA: Malaysian Global Innovation & Creativity Centre (MaGIC) is encouraged by government's pledge to create a conducive ecosystem to reap the benefits of innovation, especially from local start-up ideas.
"Malaysia has so many aspiring entrepreneurs who need nurturing, guidance, mentoring, and financing and as we work to build greater collaboration between these and the corporate sector we welcome the government's pledge to facilitate the testing of innovative ideas and new business models through a regulatory sandbox across all industries," MaGIC said in a statement.
It said the government's initiatives align with the Corporate Entrepreneurship Responsibility (CER) platform MaGIC launched earlier this year which today already has 46 partners on board working with entrepreneurs to address real problems in their business.
"With the Budget 2018 the government has clearly demonstrated the importance of social innovation, aligning Malaysia with the many governments around the world promoting equitable and sustainable economic growth. Social innovation, and platforms such as MaGIC's IDEA or IMPACT, makes it possible for entrepreneurs or aspiring entrepreneurs to do well and build a sustainable business while also doing good," it said.