The Ministry of Economy and the Ministry of Science, Technology, and Innovation (MOSTI) recently launched INNOVATHON, a reality TV programme to foster and instil an innovation culture.
According to Minister Of Economy Rafizi Ramli, it is an opportunity for Malaysians to generate and develop innovative ideas that can be commercialised as digital and tech products through a hackathon format.
Starting from May 2023, INNOVATHON will open the idea screening process to all Malaysians. Interested participants can submit a brief video outlining their innovative idea and a concise business plan online. The reality TV programme INNOVATHON is expected to premiere in June 2023 for ten weeks.
These videos will be evaluated, and the selected ideas will then be invited to a physical talent test session in front of a panel of judges in six locations across Malaysia (Kuala Lumpur, Penang, Johor, Pahang, Sarawak, and Sabah).
Participants in this stage will receive guidance from experienced mentors in business, product, and technology, to prepare them to present their ideas to potential users and investors.
The Ministry of Economy and MOSTI will organise leaders from the public and private sectors to become judges during the physical talent testing sessions in all six locations across the country.
Participants with the best ideas will advance to the final stage and have the opportunity to win seed funding worth RM1 million and direct support to help commercialise their ideas to the market.
The INNOVATHON programme will be broadcasted nationwide in collaboration with ASTRO and will showcase the behind-the-scenes
process of developing digital products, from idea conception to prototyping and early commercialization.
Participation is open to all Malaysians, regardless of background or age. No prior experience or qualifications in idea and product development are required, and even high school and university students are encouraged to participate.
