THE state government has undertaken various initiatives over the past 10 years to create a robust, vibrant and conducive ecosystem, not only to increase FDI to the state, but also to create and grow more local businesses and this was conveyed by Chief Minister Chow Kon Yeow who attended the 25th anniversary dinner of Intellect Group today at Hard Rock Hotel.
“In our bid to enhance the growth of Penang’s technology ecosystem, the state government has launched the Penang i4.0 Seed Fund in March this year, with an allocation of RM4 million that offers up to RM250,000 to start-ups.
“For the first batch of applicants in August, sixteen companies each received a minimum of RM50,000.The subsequent batches of applicants are still on-going.
“In line with that, the federal government had also launched the National Policy on Industry 4.0 in October this year, with a 4-pronged strategy of increasing the level of productivity in manufacturing industry per person, elevating absolute contribution of the manufacturing sector to the economy, strengthening the country’s innovation capacity and capability, and increasing the amount of high skilled workers,” said Chow in his speech.
Apart from that, Chow also stated that ASEAN countries are playing pivotal roles in developing the recognition and enforcement of IP rights in the region.
“For instance, recently Lazada has established an IP protection framework with the Korea IP Protection agency (KOIPA) to work on a process of reporting and removing fake goods from their listings, which will cover 6 ASEAN countries including Malaysia.
“Intellect Group of IP Companies, being a Penang homegrown IP consulting firm, is playing an important role in the field of IP.
“It amazes me that Intellect has recently invested in e-commerce to stay relevant and competitive in today’s global digital business trend.
“I believe this specially designed online service called “ipon9” will reach wider customer base especially young entrepreneurs and start-ups with small capital and enable them to protect their IP at a much lower price, thus benefiting more businesses and the economy at large.
“I have no doubt that the technology-based platform will enable Intellect to continue to be a significant player in the IP industry in the coming years,” added Chow.
According to Chow, Intellect has widen its customer base particularly in the ASEAN countries and have formed strategic partnerships in China, Cambodia, Indonesia, India, Myanmar, the Philippines, Thailand and Vietnam, that enable businesses to protect and manage their IP through a common platform.
“As the Chief Minister of Penang, I am proud to know that Intellect has chosen Penang as its main management and operations hub.
“Not only that, as a homegrown brand it also plays an important role in assisting many international clients to expand their brands to Penang if not the whole of Malaysia and vice versa,” Chow said.
Also present were Intellect Group of Companies Founder & Group CEO Solomon Lee and Group COO Joanne Loh.
Story by Tanushalini Moroter
Pix by Alissala Thian