The International Invention, Innovation and Technology Exhibition (ITEX) is back again for the 25th year.
To be held from May 8 to 10 at the Kuala Lumpur Convention Centre, the exhibition will showcase inventions, innovations and technologies by key local and international players from various sectors, experts from the field of research and development, manufacturing, finance andlaw.
Organised by the Malaysian Invention and Design Society (MINDS) and managed by CIS Network Sdn Bhd, ITEX 2014 is set to achieve a specific and primary objective: To promote initiatives and opportunities for an inventor, leading up to a successful commercialisation.
The objective is in line with the declaration by the Ministry of Science Technology and Innovation (MOSTI) for this year to be its Commercialisation Year.
MOSTI is aiming to commercialise at least 60 products by the end of this year and to boost Malaysia’s annual commersialisation rate to 15% from its 8% currently.
The president of MINDS and Asian Caucus of Invention Association (ACIA), Tan Sri Emeritus Professor Datuk Dr Augustine Ong, is confident that ITEX, which unites the best minds in inventing and innovation, will be able to support this national agenda.
According toOng, one of the main commercialisation challenges still faced by inventors today is the inability to find the right parties to manage different aspects, such as marketing, branding and funding, crucial to achieve successful commercialisation.
“ITEX 2014 is aimed to increase the awareness that savviness in an inventor is measured not by their ability to master every aspect involved from the research to commercialisation phase, but rather the savviness to look for the right people to manage different needs. A smart inventor would look for opportunities to collaborate because there are many ways to achieve commercialisation of an invention. An inventor will need to gather a team. Hence, ITEX 2014 is an ideal platform as it is a huge matchmaker marketplace for various stakeholders,” explained Ong.
In the interest of maximising the level of engagements between participants who are keen to achieve successful commercialisation, ITEX 2014 will provide various channels for new inventions to be noticed such as forums and the Inventors Meet Investors Programme, which is being held for the very first time.
These channels allow for more space to secure manufacturing and distribution in wider markets; and facilitate IP protection for inventors with the presence of both inventors and IP specialists under the same roof.
ITEX 2014 is also a significant event this year as it marks the silver jubilee for the exhibition that has organised since 1989.
According to Datuk Vincent Lim, president of CIS Network, under Ong’s leadership, ITEX has grown from strength to strength.
“We have seen a 10% average annual increase in the number of inventions shown at ITEX, with 2013 being a record year with a thousand inventions. More than half (58%) of which were local inventions and 42% international. With this steady growth, ITEX is today one of the top 10 invention exhibition in the world, placing it on par with leading countries.”
“We are optimistic about the presence of more corporate organisations so that increased R&D collaborations between various parties can take place. We are targeting 1,000 inventions to be featured this year and a turnout of 12,500 visitors,” Lim added.
Held concurrently is the Malaysian Young Inventors Exhibition (MYIE) 2014, and Asian Young Invention Exhibition (AYIE) which features budding inventors aged 20 and below.
All inventions and innovations at ITEX are also vying for several awards in the Invention and Design Competition. The awards include MOSTI’s Patron Award, The Asia Invention Cup 2014, ITEX 2014 Best Inventions, ITEX 2014 Awards, the IFIA Cup and other international awards and local and sponsored awards.
Winners will be judged based on their invention’s strength in 5 main areas: novelty and inventiveness, usefulness and application, presentation and demonstration, market and commercial potential and environmental friendliness. All successful inventors will be awarded in the Malam Budaya Cipta (A Celebration of Creativity Night) on May9.