From factory Asia to creator China; lessons for Malaysian SMEs

30 November 2018

Over the last decade, the Chinese economy has transitioned to a manufacturing powerhouse. However, this transition did not happen quickly, as the manufacturing was traditionally focused on quick profit. By investing heavily in R&D and innovation in areas such as AI and robotics, China was able to become one of the top innovation hubs in the world. Using this transition as a guide for how to foster innovation and avoid the pitfalls, SMEs in other regions can create opportunities for themselves to grow and develop. Due to offering strong IP protection, Malaysia in particular offers a good starting ground for SMEs and start-ups to focus on creating niche products and trialling prototypes before moving onto large-scale manufacturing. Further business opportunities for SMEs in Malaysia can also be created by investing in industries such as fintech, biometric and biotech, AI, food security and blockchain as they develop rapidly. The article provides a number of lessons that SMEs in Malaysia, and other Asian countries, can use to become more innovative.

Read the full article on the Awani Reviews website.

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