INNOVATION is the engine driving economic progress, according to Penang Chief Minister Chow Kon Yeow.
Speaking at the Malaysia Inventor and Innovator Convention (MyIIC) 2024 gala dinner held at Eastin Hotel Penang, Bayan Lepas, this evening, Chow underscored Penang’s pivotal role in fostering creativity and technological advancements.
“As the fourth-highest contributor to Malaysia’s gross domestic product (GDP) in 2023, contributing 7.4%, Penang continues to strengthen its position as a hub for innovation and creativity.
“Improving innovation landscapes is essential for moving up the industry value chain and progressing towards a high-income state or nation,” Chow said.
Chow also lauded Malaysia’s significant rise in the Global Innovation Index (GII), where the nation ranked 33rd out of 133 countries in 2024, as reported by the World Intellectual Property Organisation (WIPO).
He credited this achievement to the tireless efforts of Malaysian inventors.
“It is inspiring to know that over 7,000 Malaysian inventors hold at least one United States (US) patent, with 10 inventors securing more than 50 US patents and two prolific inventors achieving over 100 US patents,” Chow noted with pride.
He highlighted Penangite Cheah Bok Eng as the Malaysian record holder for the most worldwide patent grants.
He further commended Penang’s selection as the host for the prestigious MyIIC 2024, reaffirming the state’s reputation as fertile ground for creative minds.
“I urge all participants to use this platform as a springboard to connect, collaborate, and perhaps create your own ‘unicorns’.
“Now is the time for inventors and innovators to develop intellectual properties that make a societal impact and elevate Malaysia and Penang on the global stage,” he said.
MyIIC 2024 is being held from Dec 8 to 10 at Universiti Sains Malaysia (USM) Penang. The event is jointly organised by the Malaysian Invention and Design Society (Minds) and USM.
MyIIC 2024 organising chairman Cheah Bok Eng described the convention as a golden opportunity to network with leading Malaysian inventors, C-suite executives, and innovation specialists across industries such as semiconductors, medicine, agriculture, and space technology.
Chow reaffirmed Penang’s commitment to fostering innovation, positioning the state and nation as leaders in creativity and technological advancement.
Also present at the gala dinner was Minds president Academician Emeritus Professor Tan Sri Datuk Dr Augustine SH Ong.
Story by Riadz Akmal
Pix by Siew Chia En
Video by Siti Nuratikah Rahmat