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Driving Malaysian SMEs towards Innovation

Appreciating the potential of innovation in providing not just the first-mover advantage, but competitive edge in global markets, SME Corp. Malaysia recently announced its premiere 5th SME Innovation Award 2014 for Malaysian enterprises with proven track of innovative business products, processes and practices.

The Top Most Innovative SME will be rewarded a total cash prize of RM1 million, and will be presented by the YAB Prime Minister Dato’ Sri Mohd Najib Tun Haji Abdul Razak at the SME Annual Showcase (SMIDEX 2014) to be held from 4th to 6th June 2014 at the Kuala Lumpur Convention Centre.

Organised by SME Corp. Malaysia in collaboration with SIRIM QAS International Sdn. Bhd, the soft launch also guided SMEs on the application process as well as the various criterion to participate in the SME Innovation Award 2014.

Only the Malaysian SMEs who have already been certified with the 1-Innovation Certification for Enterprise Rating & Transformation (1-InnoCERT) are eligible to participate for the Award. The 1-InnoCERT is a certification that has been designed by SME Corp. Malaysia to foster innovative enterprises through harnessing and intensifying home grown R&D and innovation.

“I beam with great pride every year witnessing SMEs constantly striving to move to the next level of excellence. While the 1-InnoCERT certification guides SMEs to implement systems, processes and business models that comply with the innovation standards; for the Award, the assessment is primarily based on their technological innovation, commercialization and innovation management abilities”, said YBhg. Dato’ Hafsah Hashim, Chief Executive Officer of SME Corp. Malaysia during the launch that was held recently.

Since its inception in 2010, a total of 90 SMEs have been awarded the 1-InnoCERT certification. These SMEs are put on a fast-track mode with access to incentives including funding for their projects as well as the Green Lane Policies that encompasses financial facility, tax incentives, Government and MKD Procurement. With such support and encouragement by the Government, our innovative SMEs will continue to be guided and facilitated towards business expansion and growth both locally and globally.

“As an entrepreneur among SMEs, one should understand that there is little difference between obstacle and opportunity and both of it can be turned into an advantage. Confidence and Commitment are what you need besides the assistance that is provided by SME Corp. Malaysia. Programs and certification such as the 1-Innocert have helped many companies including mine and they have proven successful”, shared Baharom Hamzah, Chief Executive Officer of Romstar Sdn Bhd; the RM1 million winner of the Top Most Innovative SME Award in 2013.

The anticipation of who will walk away with the RM1 million SME Innovation Award 2014 continues.

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SME Corporation Malaysia
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