KUALA LUMPUR, Malaysia, Dec. 30, 2015 /PRNewswire/ -- Frost & Sullivan has signed a Memorandum of Understanding with the Malaysia Innovation Hub (MIH) to promote co-operation in the areas of business advisory, commercialization and marketing across sectors. The formal signing of the memorandum took place at MIH's headquarters at the University of Malaya yesterday witnessed by the representatives from the Alibaba Group and the Ministry of Higher Education. The agreement was signed by Tan Sri Dr. Ghauth Jasmon, the chairman of MIH and Hazmi Yusof, Managing Director Malaysia, Frost & Sullivan.
Frost & Sullivan's collaboration with MIH aims to help accelerate the pace of IP commercialization. Under this agreement, Frost & Sullivan will assist in identifying projects of mutual interest and work with them in building a converged knowledge and marketing platform that can accelerate businesses towards transformational growth.
Commenting on the agreement, Tan Sri Dr. Ghauth noted that this partnership is timely because Malaysia is focusing its efforts on building an Innovation ecosystem.
"Through our combined efforts, we hope to set in place a framework that will drive innovation and help Malaysia stay relevant amidst the rapidly evolving market environment," said Tan Sri Dr. Ghauth.
Hazmi Yusof shared that Frost & Sullivan was well-placed to assist MIH, given the company's strong track record. With its broad industry coverage and strong business network, the company is able to match investors and conglomerates whom are looking to be part of the effort.
"Frost & Sullivan is excited and honored to partner MIH. This exciting collaboration will provide an excellent opportunity and build a distinctive platform for local businesses to exchange ideas and experiences to enhance Malaysia's innovation ecosystem," he said.
MIH is a Malaysian Government assisted non-profit organization established to assist the Ministry of Higher Education in creating a successful Innovation Ecosystem as envisaged under Shift #7 of the Malaysia Education Blueprint 2015-2025 (Higher Education).
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SOURCE Frost & Sullivan