FOLLOWING the successful launch of IPHatch Malaysia, a regional open-innovation challenge, Piece Future and Malaysia Digital Economy Corporation (MDEC) will be collaborating to supercharge businesses within Malaysia through technologies from renowned multinational corporations.
IPHatch offers patents from patent owners such as Nokia, Panasonic, and Ricoh, to award-winning business proposals from start-ups and entrepreneurs. The patented technologies cover communications, imaging, navigation, smart sensors, AR/VR, data analytics, just to name a few.
“As strong believers in the power of open innovation we’re delighted to support IPHatch and to enable start-ups in Southeast Asia to build upon Nokia’s leading portfolio of connectivity technologies,” said Nokia Technologies’ president, Jenni Lukander.
The challenge, to date, has recorded participation from start-ups under many different industries including financial technology, retail mall management, e-Fitness, food and beverage technology and even tech-enabled mental wellness aiming to solve both social and economic challenges locally.
The importance of having access to technologies has never before been as relevant in
Southeast Asia as it is now, when pivotal industries such as education, financial sector, healthcare and ecommerce are experiencing unprecedented digitalisation.
MDEC’s vice president of digitally powered business division, Gopi Ganesalingam said that IP rights should be an important aspect of consideration for many startups. This is because by doing so they will add to the value of their brands and solutions, turning what are just ideas into valued assets.
“IPHatch’s unique approach in leveraging big tech company patents to help grow and scale startups is just the kind of programme that Malaysia needs in order to level up the startups in the country, and we are privileged to collaborate with Piece Future to launch IPHatch Malaysia,” said Gopi.
MDEC’s active involvement in galvanising the start-up ecosystem and working with multiple partners across the country and beyond will help position Malaysia as the next start-up hub of Asia.
The joint initiative between Piece Future and many patent-rich-corporations all across the globe have made use of patents to invest in start-ups for open innovation and grow them in adjacent sectors. To date, the initiative has empowered the growth of more than 30 innovative start-ups across Singapore and Hong Kong, even amidst such challenging times.
For the next couple of months, IPHatch participants will be offered deep dive sessions for patent portfolio technicalities, panel discussions, as well as intensive business-modelling and coaching workshops before pitch days.
Winners will get to enjoy platform support from established incubators programmes and venture capital firms that collectively offer an invaluable ecosystem of venture funding and mentorship in IPHatch network cities.
Application for IPHatch Malaysia will close on March 31, 2021 and for a full list of partners and supporters, and more information about the challenge, please visit www.iphatchday.com.
Source:
NST