Measuring Returns on Innovation
A follow-on project within the larger National Corporate Innovation Index Project. This project, managed by ACC and done in collaboration with Nesta (UK’s Innovation Foundation) and Inngot (a UK IP Consultancy), was initiated to develop a tool to help Malaysian businesses understand their investments, assets, outputs and returns relating to their innovation efforts and intangible assets. The tool focused specifically on uncovering and valuing the contribution of “hidden” expenditures and intangible investments that companies make to increase their innovation capabilities through in-house-developed software; design; research and development; process improvements; investment in training, management, and leadership development; and marketing efforts that support valuable brand development. When combined with the output of ACC’s earlier work, the tool provides a comprehensive assessment of a given company’s innovation capability, capacity and management.
The tool was subsequently tested with a group of SMEs in Malaysia to explore its relevance for smaller companies. This was done in collaboration with ACCA (UK) that published a report on the outcomes of applying the Malaysian National Corporate Innovation Index to Small and Medium-Sized Enterprises.
Read the said report here.
Entrepreneurship education in the Higher Learning Institutions (HLIs) have been recognised as essential for increasing graduate employability and combating unemployment amongst graduates. This project was initiated to assess the achievements of Malaysia’s strategic plan for spurring entrepreneurship education in HLIs. ACC engaged with entrepreneurship centres within various HLIs, students (past and present), lecturers as well as key members of corporate and public sector organisations (including policy makers).
The findings for this study were subsequently presented at the 4th UNESCO-APEID Meeting on Entrepreneurship Education in Bangkok in October 2015 by the Head of the Entrepreneurship Unit in Malaysia’s Ministry of Higher Education.
Read about the outcomes of the study here
The National Corporate Innovation Index (NCII) Project was initiated to measure the level of innovation within large organisations (i.e. Public Listed Companies (PLCs) and Government Linked Companies (GLCs) in Malaysia), enabling policy makers to develop data driven policies for driving innovation.
The ultimate goal was to increase innovation output and raise Malaysia’s rankings on the international innovation scene. During the project, benchmarking exercises were conducted using both Malaysian and international innovation measures to ensure the robustness of the study. The scorecard was subsequently piloted with large organisations across multiple industries to ensure actual applicability. The resulting scorecard provided these organisations with a helpful step-by-step guide on how to progress within their specific innovation journeys. The companies that were involved in the pilot project were:
The project was first launched by the Prime Minister of Malaysia in 2014. The Government agency in charge eventually deployed it to 200 companies within Malaysia. It has since been used to measure innovation within small and medium enterprises (SMEs) in Malaysia.
Read all about the project launched by the Malaysian Prime Minister:
(1) Najib Introduces NCII to help companies become innovative, - The Sunday News
(2) NCII to be a badge of honour, says Najib - The Rakyat Post
Creating a Blueprint for Collaboration
The project, commissioned by the Malaysian Multimedia Development Corporation (MDeC), aimed to accelerate the growth of Multimedia Super Corridor (MSC) companies in Malaysia (specifically SMEs within the ICT sector) through an Open Innovation methodology with a modified structure. This methodology was pioneered by ACC based on our understanding of the challenges within the ecosystem in Malaysia. Suitable MSC companies were identified, trained in our proprietary innovation framework and given guidance on how to propose innovative IT solutions that can deliver value to larger host organisations. This collaborative project successfully accelerated the penetration of such MSC companies into large organisations within a short period.
The aim of the project was to accelerate the growth of MSC Companies (these are SMEs in the ICT sector) through a modified structured open innovation approach methodology. This methodology was pioneered by Alpha Catalyst based on our understanding of the ecosystem challenges in Malaysia. MSC companies, are under purview of the Multimedia Development Corporation (MDeC), a government linked agency tasked with creating a conducive platform and environment to nurture Malaysian Small and Medium Enterprises (SMEs) in the ICT sector, to become world-class businesses.
Through this approach, selected MSC companies are identified, trained in our proprietary innovation framework and guided, to propose innovative IT solutions that can deliver value to Host Companies (large organizations). This collaborative effort to enhance the innovation ecosystem, between the government agency -which takes on a facilitative role, large organisations and SMEs, has successfully accelerated penetration of MSC companies into the large organisations, within a short duration.