Does Malaysia have an ‘innovation crisis’? Apparently the Malaysian government thinks so, as it formed the Malaysian Innovation Agency (AIM) quickly in December 2010 to tackle the issue. The problem is, according to Special Innovation Unit CEO Dr. Kamal Jit Singh, that the country is endowed with wealth but isn’t utilizing it properly, putting it in danger of standing stil or even regression as the rest of the world advances.

Innovation needs to be focused on wealth creation and society’s wellbeing, he said, and Malaysia needs to become globally competitive. AIM has identified four pillars: the education system, higher learning institutions, government, and industry (especially SMEs) — all of which need to work together, abandon their silo mentality and foster the country’s natural talent for the benefit of all.

Some might say that if a country needs a special government body to highlight the need for innovation in these obvious areas, then it might indeed have an innovation problem. And it’s always our opinion here that too many government programs can stifle progress in the long run, no matter how well-intentioned they are. But as Kamal Jit says, Malaysia does not suffer from a lack of talent. It’s a matter of being able to adapt that talent more to suit the economy’s present needs. Malaysia’s new Talent Corp is already playing its part by identifying key needs and attracting Malaysian talent back home, and hopefully AIM will build on their efforts.

source & article: Bernama