KLCC3Last October during the Global Entrepreneurship Summit 2013 in Kuala Lumpur, Prime Minister Datuk Seri Najib Razak made a significant announcement of the establishment of Malaysian Global Innovation and Creative Center or MaGIC.

During the Echelon 2014 – Malaysia Satellite in early March which I attended, Tan Sri Dr. Irwan Serigar Abdullah, Secretary General of Treasury, Ministry of Finance of Malaysia, who was the guest of honor at the event, spoke passionately about MaGIC and gave a glimpse of the preparation for the office building of MaGIC in Cyberjaya.

It is good to get updates on the much anticipated MaGIC. It looks like some background information about MaGIC has become available on the organization’s website at www.mymagic.com.my. There are also communications activities seen on Twitter and Facebook.

Here I’d like to quote information from the website (www.mymagic.com.my):

“MaGIC is designed to become a one-stop centre for entrepreneurs, which will provide every facility an entrepreneur will need – from obtaining funding from banks or venture capitalists to providing incubators for developing start-ups to improve their products or services.”

This is absolutely good news.

What I also find interesting is that MaGIC has already eight events listed on its website. Among the events are Halal Tech Challenge that’s going to start on April 5th, MaGIC pitchIN Challenge which started end of March and with a goal to unleash great business ideas, and, there’s also Accelerace, the ultimate entrepreneurial challenge that’s open for entries early this month.

Better future?

Based on what MaGIC is set to achieve as a one-stop center, there will be opportunities up for grab in Malaysia.

What MaGIC aims to do which is “…to transform Malaysia into a dynamic entrepreneurial nation by enabling domestic and international entrepreneurs to successfully start and grow their businesses,” is a fantastic idea, in my view.

As a Malaysian, I am encouraged to hear such a noble mission which has a potential to bring Malaysia to a whole new level of competitiveness.

What I would also hope this could actually lead into, is a better growth in local startup industry where we will see more resilient and innovative entrepreneurs who will be able to take on competition and WIN at a global stage.

Another thing is, I think the small and medium-sized enterprise (SME) sector in the country could definitely use some additional boost that MaGIC will contribute, to help strengthen the sector’s continuous development.

By the way, the website also mentions this: “The MaGIC Centre is located in Cyberjaya, Malaysia. It is set to be launched in April and will be fully operational in May 2014.”

Indeed, it is happening.

Many people are now probably eagerly waiting for an official announcement of who will be the head of the management at this new organization called MaGIC. All the best to the soon-to-be-announced boss of MaGIC!

I can feel the excitement that is already building up. Conversations have begun and I certainly hope the good momentum created will persist.

This is an important time.

Perhaps this is also a good time to dust off those ideas shoved in a file cabinet and get them heard at MaGIC!

 

By Kam Hashim

 

 

 

 

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