Futurise Sdn Bhd (Futurise) has signed a Memorandum of Understanding (MoU) with the National Sports Institute of Malaysia (ISN).
“In collaboration with ISN, we are looking towards the regulatory framework needed within the sports market, sports technology and advancements that can potentially allow a new ecosystem to be established. There is a need to ensure that there is a continuous effort in developing regulatory frameworks for sports be it the sports technological improvements, new guidelines or policy issues. There is a huge prospect in the sports market that can be transformed into a potentially lucrative ecosystem here in Malaysia with technological advances,” said Mahadhir Aziz, Chief Executive Officer of Futurise.
The MOU will see the two parties exploring and identifying potential collaboration towards building a sustainable business model and pilot innovative solutions within the sports technology space. While Futurise through the National Regulatory Sandbox (NRS), will work on exploring innovation-friendly regulatory approaches for emerging solutions and business models developed by ISN partners and ecosystem participants, ISN will be looking towards providing expertise in the area of R&D with regards to sports technology and innovation.
Currently, Futurise is in a preliminary discussion with one of ISN’s partners to address their regulatory issues.
Mahadhir concluded that “The sports industry is incredibly diverse. In the very near future, the Malaysian sports market has the opportunity to be an ecosystem that will fuel new markets that attract investors entering the sports investment landscape. Futurise looks forward in contributing towards the strengthening of technology innovation in sports for Malaysia and we look forward towards a fruitful partnership with ISN.”