Delegates of the recent Innovation Conference held at the Penang Skills Development Centre (PSDC), Penang, obtained rare insights into some of the advanced technologies being developed in SilTerra and the company’s mission to develop a high-tech ecosystem in Malaysia.
In his talk entitled ‘Innovation: The Engine of Growth”, VP of Strategic Management of SilTerra, Mr. Tan Eng Tong spoke about SilTerra’s approach in engaging industry stakeholders and promoting collaboration across the value chain to develop innovative new products. He shared that highly innovative companies like Google and Amazon made it a policy that 10% of the employee’s time is allowed to be spent exploring new ideas. This best practice requires that the policy flows top down from shareholders and the CEO to managers and employees.
Held on the 18th July 2019, this Innovation Conference was organized by PSDC in collaboration with PMO Innovations. Attended by 150 delegates from MNCs, SMEs, the academia and government institutions, the event brought together 15 innovation gurus and industry practitioners who have successfully demonstrated innovation in their corporate culture.
The conference addressed key concerns about staying relevant in a business landscape that is rapidly evolving due to technological advances and industrialization. The speakers, ranging from corporate consultants to industry leaders in MNCs, government and the academia, discussed critical issues and industry best practices as well as their personal experiences in introducing the innovation component into business through organizational and strategic innovative measures.
The conference also included a panel discussion where speakers shared their insights on leading and nurturing innovation within their organizations. Delegates had the opportunity to post their questions online. The questions revolved around innovation management, managing Gen Y ideas, budget management and other aspects of managing new ideas.