Agensi Inovasi Malaysia (AIM) has embarked on the National Corporate Innovation index (NCII) initiative with the objective of helping stimulate and drive innovation amongst large companies in Malaysia.
[AIM is a statutory body under the Prime Minister’s Office chartered to create new wealth for the nation through promotion and facilitation of investment activities and initiatives by the public and private sector in relation to innovation. ]
Alpha Catalyst Consulting has been instrumental in leading Phase 1 of the project, whereby a scorecard was developed and piloted, to help public listed companies holistically self-evaluate their innovation management strategies, processes, systems, and impact. The prototype scorecard explored 8 different areas of measurement:
Leaders from most of these companies attended a breakfast roundtable held on 29 January, 2014 at Hilton K.L. to be recognised, to share their thoughts and views, and to hear about Phase 2 of the NCII.
The focus of NCII Phase 2 is to address a key gap that was uncovered from Phase 1 – namely the lack of visibility and understanding by the companies on how much investment is being channeled into innovation.
(Only about 20% of the companies knew how and where their resources are being spent on innovation.)
In Phase 2, experts from NESTA (the UK’s national foundation for innovation), Inngot (leading UK intellectual property experts) and Alpha Catalyst Consulting join forces to develop a detailed measurement tool that can be used by companies, to track investments and returns from innovation, taking into account both tangible & intangible assets.
An endeavour of this level of detail is perhaps the first to be undertaken in the world.
Brief coverage of the NCII Phase 2 launch on Astro AWANI news: http://www.youtube.com/watch?v=nB0-ztVKwpM
See http://innovation.my/ncii.php for a short overview on the National Corporate Innovation Index initiative, and the participating companies in NCII Phase 1.