Technology Entrepreneurship in Malaysia

Technology Entrepreneurship in Malaysia INTRODUCTION Technology entrepreneurship is a recent field which has its roots in the now established field of entrepreneurship. The aims is to study the specificities of entrepreneurial activities in technology-intensive environments. Thus the technoprenuer is different form the entrepreneurship because needs the understanding of the concept of technological opportunity seen as an anticipated profitable business so as to enable researchers and practitioners to develop procedural knowledge. Moreover, technopreneur seems to involve both high potential future profits and high uncertainty which means have been implemented the creation and early growth of high tech ventures. The lack of funding and support are sort being discuss in the technology-based industry, so an example Cradle Fund Sdn Bhd is an agency under the Ministry of Finance, Malaysia, has their own objective to support and provide an ecosystem that help the technology entrepreneur. Through their program to initiate as the provider of the early stage funding that innovate and aspiring the technology-based entrepreneur by encourage, support, stimulate and nurture the development of Malaysian entrepreneurship in high growth technology industries and the generation of ideas for an innovative knowledge-based society and economy. We can see the success that have been achieved, for example, The Unified Alert Messaging System, which has achieved sales of above RM100,000 and is expanding its market overseas, is designed for ease of use by both small and medium sized businesses and corporations. According to Jeffrey Tan, the leader of the team that developed the Unified Alert Messaging System, an enterprise-level unified alert messaging system that grew from the WebNiche UAM (WebNiche Unified Alert Messaging) says the innovation is a natural extension of their business model. Tan says their first project provided unified communications services to SMEs, where they noticed a lot more potential if they could move up the value chain to offer hosted contact center solutions to corporations and public sectors. Those example should encourage the young technopreneur to more success and generate more idea to overlapping the advancement of the technology industry. FINDINGS The call for the Malaysian society to be a highly-technocratic one is not a new idea. In his Vision 2020 working paper in 1991, former premier Tun Dr Mahathir Mohamad highlighted the need to establish ‘a scientific and progressive society’ as the sixth challenge out of nine outlined in the national agenda. In Budget 2011 tabled by Prime Minister Datuk Seri Najib Tun Razak last year, the government would provide the ‘Entrepreneurship Enhancement Training Program to train 500 new technopreneurs and attract more investors. Additionally, the Malaysian Technology Development Corporation (MTDC) would be provided with a startup fund amounting to RM100 million to furnish soft loans that allowed loan repayments only after companies had generated income. Obviously, the government wanted to see more technopreneurs running the small and medium enterprises (SMEs) in the country. â€Å"SMEs had to grow at about 8.5 per cent annually in order to contribute about 41 percent to Malaysia’s gross domestic product (GDP) by 2020,† stated SME Corporation Malaysia’s (SME Corp) chief executive officer Datuk Hafsah Hashim recently. As futuristic as it may sound, a technopreneur is basically an entrepreneur with both business and technical training background or one who applies technology and innovation as the business core operating model. In Malaysia, this branch of enterprise is usually represented by ICT and multimedia SMEs, either at seed level or already over the startup stage. According to Bank Negara Malaysia, a general definition of an SME refers to an enterprise with shareholders’ funds of less than RM10 million. On the other hand, SME Corp stated that an enterprise that generated an annual sales turnover not exceeding RM25 million and with full time employees not exceeding 150 people was considered an SME. â€Å"Its contribution to the country’s economy remains significant,† stated SME Corp’s Hafsah. The Technopreneurs Association of Malaysia â€Å"TeAM† has been formed by a group of Malaysian Technopreneurs to further the interests of Technopreneurs and to assist in the development of the technology based industry in Malaysia. Membership to TeAM is open to all individuals related to technology industry in Malaysia. Membership to TeAM is divided into 3 types namely, Member, Honorary Member and Student Member. Since its founding, TeAM’s efforts in accelerating the adoption, growth and development of the ICT industry in Malaysia has resulted in a number of successful key initiatives such as the Cradle Investment Programme (CIP), Excite the Entrepreneur Programme, TeAM Clinic, Malayisan ICT Trade Directory (with Matrade), MSC Global Technopreneur Forum 2004 (with MDeC formerly known as MDC) among others.At the same time, TeAM takes an active role in fostering ICT development efforts in support of initiatives by the Government of Malaysia to make Malaysia a major ICT and Biotechnology player in the region. TeAM annually participates in the Malaysian Government’s annual budget dialogue and proposed ideas and initiatives to enhance the technopreneur sector in the country. IMPACT AND INFLUENCES Malaysian technopreneurs are likely to face an uphill climb growing their businesses this year due to several ongoing challenges, say industry observers. The lack of seed-stage funding, slowdown in global economy, shortage of innovative ideas and absence of relevant skillsets, will hinder the countrys tech entrepreneurs expansion plans this year. Cradle Fund CEO Nazrin Hassan said there is still a gap, commonly known as go-to- market funding, which exists for companies between the pre-seed and seed stage of commercialization. Established in 2003 by the Malaysian government under the auspices of the Ministry of Finance, Cradle provides pre-seed funding and advice to Malaysian technopreneurs. Deepening and expanding market access for local technopreneurs to secure deals and contracts still remain a major challenge, be it locally or overseas, said Nazrin, who is also the former president of the Technopreneur Association of Malaysia (TeAM). He noted that about 80 percent of local technopreneurs are at the early stage of development, but many of them cannot grow further due to the lack of funds. There is a gap that exists between the pre-seed and seed stage of funding, he explained. Pre-seed funds only help technopreneurs to develop their ideas, but good ideas will need a bridge to get to the next level. Nazrin said. According to Michael Ta, CEO of the FSBM Groups multimedia arm, technopreneurship in Malaysia is often about positioning the right people, in the right places to secure a project. This is why many local technopreneurs only do well in Malaysia but not when they are pitted against the other players in the world arena, Ta told ZDNet Asia in an e-mail interview. The Malaysian IT services company has made inroads in China with Java- based mobile applications. According to Deputy Minister of International Trade and Industry (MITI), â€Å"The Malaysian government has consistently urged the SMEs and the industries to innovate and utilize technology and ICT solutions to remains competitive as a way of charting a new path out of the present global economic turmoil†. He also added that ICT industry is the main pillars of the Malaysian economy and the New Economic Model (NEM). He also stressed that the development of the local entrepreneur were the crucial to position Malaysia as a developed status nation by 2020. He also mention that the SME should adopt the abundance enterprise software as a management tools, content and data delivery mechanism to increase their efficiency and effectiveness. DISCUSSION Technology industry is still in early stage in Malaysia and still in developing. The government should give huge essential toward the technology industrial because it can generate tremendous profit and growth of economic. Our product are still in the in research and try to penetrate the market as well try to fit in the technology advancement. According to this issue Malaysia still lack knowledge and funding compare to Japan and Korea that mostly have full facilities and high technology. Multimedia Development Corporation (MDeC), the custodian of the Multimedia Super Corridor Malaysia (MSC Malaysia) initiative, launched the ‘Icon2 – Second MSC Malaysia Integrated Content Development Program’, the sequel of the first content development program. Similarly to its predecessor, Icon2 would furnish local developers with the skills and means including the startup capital to create content-based products. The program was also initiated to provide a platform for the younger generation to play an active role in the country’s transformation into a fully-digital economy, following the target outlined in the Economic Transformation Program (ETP). Furthermore, Malaysia still lack of training and expertise in the development of the technology. Lack of conventional training and support also become barrier to development of industrial-based technology, there for the youth generation should have early exposure regards technology as we can generate more technpreneurs in the future that can globalize the Malaysian towards technology. Last but not least, developing THE Technopreneur Center (TEC) to play the role of an information Center that spreads information about technopreneur development and commercializing technology. TEC will create a synergy with activities that is being organized by other units in the university and any place of study. RECOMMENDATIONS First of all, the technopreneur flagship should have their own representative on their committees entrepreneur that have involve in the technology industry. To make sure this can encourage more technopreneur show their interest efficiently represented and the more representative should be extended in the flagship application. Therefore the MSC should success to ensure that broadband access are available nationwide, which means allow ICT companies enjoy pioneer status and tax incentives. Next, Malaysia need showcase locally breed technopreneur winner. Aside from the publicity, Malaysia should highlight the viable ICT business environment to foreign investors. By these the government should introduce sponsored programmes on the development that aims and sharpen the new technopreneur business skills, this will facilitate buyers to sources for expertise among technopreneur. The government also need playing field by channeling the bidding of some government contracts to certain classes of startup companies while excluding establish companies, this will show the government act as catalyst. Moreover, technopreneur need to be more resourceful and exhaust all available sources of fund before seeking institutional funds. Friends and families intend to invest in the early stages. There is agency that help the technopreneur to understand ICT and promote funds to the industries, such as TeAM or any others government agencies. They also need to create their own forum to match international financiers with Malaysian ICT companies. By establishing a virtual web forum to aggregate and promote Malaysian business can be interest the investor that can cause an impact. They also should create an one stop agency that assist technopreneur to apply for various grants and other government aids. Furthermore, technopreneur should work together with existing development authorities in traditional sectors such as Malaysian External Trade Development Corporation (MATRADE) and Malaysian embassies abroad to collectivity market local ICT companies. As ICT is enabling technology that transcends various industries to develop marketing channels into Malaysia. With this establish Malaysian sponsored exhibition booths at major international trade fairs where local technopreneurs can participate more affordably by sharing costs. As current government sponsored exhibits are not well publicized, that ensure these initiatives are communicates down all entrepreneurs Lastly, government should grants assist Malaysian companies to create the necessary software support infrastructure in foreign markets that may be shared with others Malaysian companies in pooled basis. For start, regional markets that are closer to Malaysia should be targeted. With the foreign competitor have better resources and marketing tools, local entrepreneur need to find a place that takes advantages of local expertise and product that have local comparative advantages. By all these we can develop more technopreneur in technology-based industry. CONCLUSION Technology-based industry has reached all corners of the world. There are a lot achievement and success have been made appeals to emotions and drive decisions. With numerous programmes set up by the government to develop ideas into products, all parties should team up to take these ideas to next stage of full commercialization. On the support provider’s side, the government and its respective agencies should promote these programmes more aggressively. On the recipients’ side, they should explore more which meant they must ask around, seek around and act. Prime Minister Najib summed it quite poignantly during the launch of the 23rd MSC Malaysia Implementation Council Meeting in October. â€Å"Do we want to just be achieving what is expected; or do we want to springboard ahead of the pack?†. Thus, government support is needed necessary, as the local technopreneurs are definitely not in the same league as other global technology-bases industry entrepreneurs. BIBLIOGRAPHY SHARIZA ABDULLAH  ON 27TH OCTOBER 2014 http://www.nef.org.my/v_2010/ Cradle 2014 http://www.cradle.com.my/2012/03/mobile-network-radio-optimisation-gis-tool-or-xeus/ TeAM 2014.http://www.team.net.my/ Borneopost.com http://www.rightsarawak.com/rightv2/subpressrelease/2011/11_Dec_2011-Technopreneurship_A_promising_call_for_the_unemployed.pdf Bernama.http://www.cruisegpssystems.com/index.php?option=com_contentview=articleid=90:malaysia-sme-mukhriz-technopreneurs-crucial-for-economic-growthca Mohd Abdullah Jusoh, Sultan Idris Education University, Malaysia Hazianti Abdul Halim, Sultan Idris Education University, Malaysia : Role of Technopreneurs in Malaysian Economic Abdul talib bon : NEW MODEL AND CONCEPT FOR TECHNOPRENEURSHIP STUDIES IN UNIVERSITY THROUGH EXCELLENCE CENTER Handbook of Research on Techno-Entrepreneurship : Franà §ois Thà ©rin Edwin Yapp, ZDNet Asia. Malaysian technopreneurs are likely to face an uphill climb growing their businesses this year due to several ongoing challenges, say industry observers.

Why Stalin Emerrged as the Leader of the USSR in 1929 rather than Trotsky :: essays research papers

Why did Stalin rather than Trotsky emerge as the leader of the USSR in 1929? A power struggle for control of the Bolshevik party began after Vladimir Lenin's death in 1924. Among the several contenders, two of the most important names in this struggle were Leon Trotsky and Joseph Stalin. Ultimately, Stalin was able to secure power and vote out Trotsky. In the following essay I will discuss the reasons why Stalin rather than Trotsky emerged as the leader of the USSR in 1929. First of all, Stalin was lucky. Trotsky remained ill for most of the power struggle and Lenin died at an opportune time. Indeed, had Lenin lived, Stalin would probably have been sent to the provinces to work for the party. Dzerzhinsky, the head of the Cheka and political adversary to Stalin, also died fortuitously in 1926. His death facilitated the infiltration of Stalin?s supporters into the political police which Stalin eventually used against his opponents. It was also fortunate for Stalin that Lenin?s testament was not publicized. If Lenin?s negative views on Stalin succeeding him had been aired, there would have been no possibility for Stalin?s victory. Another reason for Stalin?s victory was his influence over the party machine through his key positions in the Politburo and Orgburo and as General Secretary. This power allowed Stalin to appoint his supporters to key positions in the party. He also controlled the membership of the party by admitting members likely to support him and expelling those members likely to support Trotsky. Stalin?s control of appointments and membership also made him a valuable ally to other contenders who needed his ability to deliver votes in the congresses. Stalin was also politically skillful and cunning. In the Politburo, when matters of high policy were being discussed, Stalin never imposed his views on his colleagues. He carefully followed the course of the debate and invariably voted with the majority. To the party audiences he appeared devoid of personal grudge and rancour and even seemed to be a detached Leninist, a guardian of the doctrine who criticized others only for the sake of the cause. Stalin always adopted policies that were broadly approved by the majority of the Communist party. Hence, using his political dexterity, he maintained a good reputation within the party. Stalin also made full use of Lenin?s funeral to advance his position. He tricked Trotsky into not attending the funeral by letting him know that he would never make it on time (of course this was not true).

Health care Transparency Essay

Health care Transparency is openness about the quality of healthcare provided, sharing information whether it be good or bad for the purpose of improvement. In the past, health care transparency was secretive, people did not want to share patent information for reason of privacy to their clients as well to avoid law suits. However there is a way in which you can share information without violating doctor patient privilege. The future of health care transparency looks as though it is going to improve, I say improve because I agree with Dr. Patrick Crawley that the movement will allow sharing of information therefore allowing improvements to be made leading to less law suits. Really kind of taking on a best practices type of mentality as well sometimes we need others to step in and help work through issues that may arise. Overall I think that hospitals becoming transparent will force improvement, at first I am sure there will be a struggle just as in any new process however once the kinks are worked out improvement will shine through. Health care transparency will help patients make more informed decisions when deciding where to go when care is needed, this may cause longer wait times at first however raising the standards and outing the facilities that are not providing good treatment cause only force them to do whatever it takes to increase standards and service provided. We as consumers need to become more informed decisions makers however with information available to us is limited we are unable to make accurate decisions on where to receive our care. We have systems/sites in which we can choose babysitters, plumbers and other types of services we made need why would we not want to choose our health care facility with the same type of research. Some of this information is already made available by some facilities, such as checking out wait times and even being able to sign up to be seen before even arriving improving the time in which we would wait to  receive care. The more we alignment with this advancement the better the care we will see.

3 m’s Conundrum in Efficiency and Creativity

3 m’s Conundrum in Efficiency and Creativity 3 m’s Conundrum in Efficiency and Creativity The success of any company depends on its efficiency And what can we consider as efficiency? From the point of view of business policy the main goal of any business activity is the income which appears when the sufficient number of people fulfill particular objectives, for instance, buy products, use services, conclude contracts, etc. On the other hand, efficiency of the business is connected with creativity which is applied within the company. Effective innovation requires a delicate balancing act between play and discipline, practice and process, creativity and efficiency, where firms need to learn how to walk the fine line between rigidity which smothers creativity and chaos where creativity runs amok and nothing ever gets to market(p. 363) It is not a secret that when in 2000 James McNerney became the CEO of 3M, his plan was to transform radically the corporate culture of the company. The applied new system of corporate management known as Six Sigma bore fruits. 3M stocks boomed up to 20 % and McNerney met with general approval. However, Six Sigma was worked out in order to reveal problem cycles in operational process and strictly control them in future. Other variants of resolving any problem were excluded. With such corporate culture creativity would have become a victim of iron routine. Any innovations and especially revolutionary ones always represent a conflict with those which are long-present. The present Chief Executive of 3M George Buckley outlined that invention of something is a process that cannot be controlled a priori. And Six Sigma is not an appropriate system for this very sphere. 3Ms employees can not think in a way that if they invented nothing on Monday, they must integrate two new ideas on Wednesday and three on Friday. Creative process can not be limited by any system and rules. Officially nobody studied the level of contradiction between Six Sigma and innovations. But some experts notice that with Six Sigma innovation process flows slowly, without bright rise. Serious debates based on the rational use of time with regard to choosing one essential idea to be implemented in production continue. Adherents of Six Sigma in 3M convince that stage process of new product implementation would allow to introduce innovations to the market more quickly. According to developers opinion innovations are the result of long-time searching and testing. In order to find one brilliant idea they have to sort out several thousands. Six Sigma does not allow doing this, but proposes to reject trash and present something worthwhile. The present Chief Executive of 3M George Buckley tries to resolve the conundrum in efficiency and creativity. In conclusion I would like to point out that Sometimes Six Sigma is very useful For instance in the end of the year line manager can count how much money has company saved because of green belt projects. However, there were cases when developers in order to complete the deadline created ideas out of nothing. On the other hand nobody has a doubt that the former CEO has brought positive changes to 3M. At the mean time many employees say that now they work with enthusiasm because company is focused not on profitability and production discipline but on rise and innovations. Thus, the director of Department of Strategical Business Development emphasised that George Buckley returned the so-called creative sparkle. And the overwhelming majority of 3Ms personnel now can say with a proud that they feel they are able to dream again! And this means the great success not only for the 3Ms leaders but for all people involved in this dream as well.

Free Essays on Hipocricy And Self Delusion In “The Enormous Radio”

Hipocricy and Self Delusion in â€Å"The Enormous Radio† Everyone likes to get away from their daily lives and forget about their troubles every once in a while. We may take a vacation or escape from reality by watching a movie. Once the film or trip is over though, we must face our problems once again. In â€Å"The enormous Radio† however, Irene Wescott is on a permanent hiatus, denying her own flaws and constantly criticizing others. This story is about the way people can distract themselves from their own lives by getting involved in other people’s lives. Irene is shown to be a supercilious person through her actions. We first see Irene’s denial in her â€Å"coat of fitch skins dyed to resemble mink.†. She was â€Å"proud of her living room, she had chosen its furnishings and colors as carefully as she chose her clothes†¦Ã¢â‚¬  . Although she â€Å"was struck at once with the physical ugliness of the large gumwood cabinet,† she â€Å"decided that tone was most important and that she could conceal the cabinet behind a sofa† . Also her arrogance comes out when she tells her husband that â€Å"some woman in this building is having an affair with the handyman- with that hideous handyman.† She is more disturbed about who the woman is having the affair with than the fact that she is having an affair at all. Irene is so caught up in other peoples lives and so intent on escaping from her own reality, that she â€Å"had two Martinis at lunch, and she looked searchingly at her friend and wondered what her secrets were. They had intended to go shopping after lunch, but irene excused herself and went home.† It is no small thing for Irene to skip shopping as we see later in the story that she has run up quite a clothing bill. Her self delusion is never more evident in the story than in her response to Jim’s question, â€Å"Why do you have to listen to this stuff if it makes you so miserable?† Irene says, â€Å"Life is too terrible, too sor... Free Essays on Hipocricy And Self Delusion In â€Å"The Enormous Radio† Free Essays on Hipocricy And Self Delusion In â€Å"The Enormous Radio† Hipocricy and Self Delusion in â€Å"The Enormous Radio† Everyone likes to get away from their daily lives and forget about their troubles every once in a while. We may take a vacation or escape from reality by watching a movie. Once the film or trip is over though, we must face our problems once again. In â€Å"The enormous Radio† however, Irene Wescott is on a permanent hiatus, denying her own flaws and constantly criticizing others. This story is about the way people can distract themselves from their own lives by getting involved in other people’s lives. Irene is shown to be a supercilious person through her actions. We first see Irene’s denial in her â€Å"coat of fitch skins dyed to resemble mink.†. She was â€Å"proud of her living room, she had chosen its furnishings and colors as carefully as she chose her clothes†¦Ã¢â‚¬  . Although she â€Å"was struck at once with the physical ugliness of the large gumwood cabinet,† she â€Å"decided that tone was most important and that she could conceal the cabinet behind a sofa† . Also her arrogance comes out when she tells her husband that â€Å"some woman in this building is having an affair with the handyman- with that hideous handyman.† She is more disturbed about who the woman is having the affair with than the fact that she is having an affair at all. Irene is so caught up in other peoples lives and so intent on escaping from her own reality, that she â€Å"had two Martinis at lunch, and she looked searchingly at her friend and wondered what her secrets were. They had intended to go shopping after lunch, but irene excused herself and went home.† It is no small thing for Irene to skip shopping as we see later in the story that she has run up quite a clothing bill. Her self delusion is never more evident in the story than in her response to Jim’s question, â€Å"Why do you have to listen to this stuff if it makes you so miserable?† Irene says, â€Å"Life is too terrible, too sor...

Psychology Essay Example | Topics and Well Written Essays - 750 words - 12

Psychology - Essay Example I begin to focus all of my attention on this tooth, wiggling it more and more. The tooth does not hurt when I wiggle it, but I am sure that if I can just work the tooth loose, I will be able to get relief from the oppressive feelings I am having. Finally, the tooth pulls free and I have an instant feeling of relief. I feel so good to have that loose tooth out of my head! But almost immediately, I feel as though I need to check again for another loose tooth so that I can increase my amount of relief. I have had this dream several times over the course of my life. Some times, I have followed this process to remove as many as three teeth from my head before the dream ends. I really am not sure about what to make of this dream. I think I have connected it to concerns about my personal safety. I have always had this dream when I have been living in dangerous neighborhoods or under dangerous circumstances. I think that part of me is concerned about my safety and so I need to do something extraordinary in order to ensure my safety. But why pulling my own teeth? How is that going to make me safer? I know that it is irrational, but my teeth are something I have great pride in. They are the one part of my body that is flawless. I have never had braces or a cavity. I don’t need to whiten or treat them in any way other than basic hygiene. I believe that my dream represents my willingness to do anything to stay safe when I am in difficult or dangerous circumstances. That includes making great personal sacrifices for my own safety and I hope, the safety of those that I love. This dream is a highly visual dream. I often only have dreams about feelings, but in this dream the colors were vivid. I am in a lush forest. The trees and grasses are all the deepest shades of green. It is not lush in a tropical sense, but more in a fairytale sense. There are bugs and all manner

The Financial Performance of Seward Inc Assignment - 18

The Financial Performance of Seward Inc - Assignment Example The Liquidity ratio of the company is below the Industry ratio, which means that the company is less liquid i.e. the company must raise the liquidity in order to gain the trust of the creditors. The liquidity ratio shows the capability of a company to pay off its current liabilities. The company is lacking in the days in receivables and days in inventory compared to the Industry ratios. The company must be reduced in order to generate more efficiency in the processes. The Operating profit margin is less than the Industry margin this explains that the company is doing a good job. However, it is generating a low return on its assets as it could be due to the large value of assets employed as compared to the industry. The company is relying on debt financing and the ratio of debt is higher than that of the industry (36%). The company must introduce Equity Financing. The equity is well organized by the managers and the returns generated are higher than the Industry average.  Ã‚