Talk highlights insights to unconventional approaches to innovation that unlock growth
KUALA LUMPUR, 2 May 2013 -- General Electric (GE) and Genovasi, co-organised a talk entitled 'Cultivating an Innovation Ecosystem', targeted at industry leaders, professionals, as well as entrepreneurs, graduates and current students of the Innovation Ambassador Development Programme at Genovasi.
Genovasi is spearheaded by Unit Inovasi Khas (UNIK) and Agensi Innovasi Malaysia (AIM), and is Malaysia's only Design Thinking School and regional partner of the Hasso Plattner Institute (HPI) School of Design Thinking at Potsdam University, Germany and its sister institute at Stanford University. Genovasi offers programmes in Design Thinking in a structured human-centred approach to innovation that leverages multidisciplinary teams, flexible environments and a creative process in order to come up with user-focused products, services or experiences.
GE is an outreach partner for Genovasi's Innovation Ambassador Development Programme), providing real life design challenges which will be undertaken by Genovasi's students to develop innovative and practical solutions, fostering radical collaborations between students and industry.
The partnership between GE and Genovasi comes at a critical juncture in Malaysia's transformation journey and against the backdrop of a rapidly changing global environment.
"As a global leader in innovation, GE has a best in class platform for innovation and we believe in the power of collaboration to find solutions for sustainable growth. Through our partnership with Genovasi, we are extending our full support towards furthering Malaysia's national innovation agenda. We hope to leverage our global best practices to provide the technological expertise and experience needed to nurture innovation leaders in Malaysia through the Innovation Ambassador Development Programme," said Stuart Dean, CEO of GE ASEAN.
"Genovasi will provide an avenue for Youths to integrate with the nation, offering their passion and commitment to build a Malaysia that is able to reach for the stars. We understand and appreciate that Youths are no longer content on being passive spectators; they want to actively engage in improving the country that they are going to inherit, so the current and the future generation of Leaders will work hand-in-hand for the collective good." said Dato' Sri Kamal Jit Singh, CEO, UNIK.
In line with the programme, Beth Comstock, Chief Marketing Officer of GE, shared valuable insights during the talk, where she highlighted several unconventional approaches to innovation that can unlock growth, such as the complementary role of collaborative partnerships, business models, localization and the Government.
Beth also shared GE's approach to cultivating an internal culture of innovation that helps to build a talent pipeline in the company, such as the Experienced Commercial Leadership Program in Malaysia and across GE's ASEAN offices. She spoke about GE's belief in the strength of collaborative innovation and the recognition of the importance of localization in innovating for local needs through a process called 'reverse innovation'. This process leverages GE's global expertise to find meaningful solutions that address local needs.
It was also pointed that in GE's Innovation Barometer 2013, a survey on executive views on innovation, findings revealed that Malaysian executives view innovation as a strategic priority and are more supportive of innovation than their global peers. The survey indicated that business leaders believe that companies are moving beyond the traditional, closed model of innovation and embracing a new paradigm that is more collaborative, creative, and focused on delivering local solutions. In addition, it was found that companies increasingly recognize the benefits of collaborating and developing strategic partnerships. Such partnerships allow companies to remain competitive and grow their revenue as they provide opportunities to scale up, as well as access new technologies and markets.
"We recognize that our presence in Malaysia would not be possible without the deep relationships we have with our partners. At GE, we believe that our customers inspire us to imagine a better future, and develop innovative solutions which leverage our breadth and depth. On the back of an ever-evolving market landscape, it is important for companies to evolve in tandem with today's growth drivers to remain competitive. This strategy has, in fact, positioned GE as a leader in innovation for past 130 years," adds Stuart Dean.
With innovation being recognized as a key component for countries and companies to remain competitive, the partnership between Genovasi and GE seeks to reaffirm their commitment to driving growth and progress through supporting and facilitating innovation.
About General Electric (GE) (www.ge.com)
GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.
About Genovasi
At Genovasi we inspire, create and empower a movement of innovators for the betterment of self, environment and the world.
Genovasi is a transformative learning institution with programmes focused on the cultivation of innovation competencies. Genovasi offers a human-centred learning experience to learn and use innovation for social inclusion, active citizenship and personal development for future transferable skills to face challenges in life.
At Genovasi, we envision ourselves as the starting point for innovation. Our aim is to harness talents from various disciplines and backgrounds and provide them with skills that will make them the catalysts for innovation. (www.genovasi.my)
About Genovasi's Innovation Ambassador Development Programme (http://www.genovasi.my/)
Genovasi's Basic Innovation Ambassador Development Programme is a ten-week programme where participants will learn innovation methodologies, collaborate in cross-disciplinary teams and work on hands-on challenges in solving real world problems. Upon completion of the programme, qualified graduates will be offered the opportunity to gain practical experience through placement in Government ministries and agencies, Government-linked companies (GLC) or corporations.
About Unit Inovasi Khas
Under the Prime Minister's initiative, Unit Inovasi Khas (UNIK) was established in August 2010 to act as the focal point for innovation in Malaysia and to drive the surge forward towards developing an innovation-led economy.
UNIK was given the mandate to identify solutions to address the gaps in the innovation eco-system and to examine all areas of the eco-system: government, universities, the education system, funding and skills.
About Agensi Inovasi Malaysia
Agensi Inovasi Malaysia (AIM), a statutory body established by the Government through an Act of Parliament is created to jump start wealth creation through knowledge, technology and innovation and stimulate and develop the innovation eco--system in Malaysia towards achieving Vision 2020. For more information, visit: www.innovation.my
For more information, please contact:
Zatalini Zulkiply
Communications Manager
GE Malaysia
+603 2267 1892
[email protected]
Zatalini - Zulkiply
[email protected]
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