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KUALA LUMPUR, March 11, 2013 - PhisonTech Electronics Malaysia is announcing a strategic public/private partnership with MIDA, Pensonic, Fusionwave and EMTEC to launch the Creative Product Development Programme for Malaysian Designers (CPD). This programme aims to help Malaysian SMEs create worldclass innovative products targeting first at the digital entertainment and lifestyle markets by combining the artistic design with unique and rich Malaysian culture and the state-of-the-art electronics and digital technology developed in Malaysia.
According to the research company IC Insights, the global Digital Entertainment & Lifestyle product market in 2013 (excluding computer, tablets and cellphones which are dominated by a few dominant brands) is approximately US$170B. This is the consumer market where “Look” and “Features” matter. The “Look” of the product is the vital product design, while the “Features” of the product are made possible with the electronics and digital technology embedded in the product. Product and industrial design contributes to approximately 30% of the total development costs of these Digital Lifestyle products. In other words, in the lifestyle market, consumers buy based on product design, and product design consitutes a third of the product development cost.
There are many SMEs with good design capabilities in Malaysia. It is estimated that 7,000 designers graduate from more than 20 design schools and colleges in Malaysia annually. Currently over 35,000 creative entities are actively engaged in a broad array of activities ranging from graphics, 3D modeling, multimedia, advertising, brand & PR agencies, interior design, fashion, art, design schools and, industrial design and R&D setups; generating over RM10B annual revenue in total.
Creative Product Development Programme The main objectives of this programme is to solve the common challenges faced by our aspiring Design SMEs: - Lack of understanding of Market trends and capabilities
- Lack of financial resources
- Cost overrun
- Lack of operational experience
- Lack of skilled expertise
- Unreliable supply chain
§ Limited market access Through an integrated, comprehensive, one-stop-shop programme supported by both the government and the leading design, engineering, manufacturing and marketing companies from the private sector, this platform hopes to provide the following benefits to the industry:
The roles and responsibilities of the founding partners of the Programme are as follows :- • MIDA to provide the guidance and tax incentives for qualified design entrepreneurs and companies which provide industrial product design services and consultancy. • Fusionwave to provide consultancy and training for designers to develop and refine their ideas • Phisontech to provide engineering and manufacturing consultancy and services • Pensonic to provide product development roadmap and guidance, incubation and shared services, equity investment, branding, market development and distribution services • EMTEC is our first customer, partner, advisor, licensor, and provide international sales support • Cari.com to provide online marketing support and also ecommerce support. Together, this programme hopes to offer one-stop platform and solution to help our SMEs in Malaysia to create worldclass, innovative Digital Entertainment and Lifestyle products by the creative blending of Made-in-Malaysia “art” and “technology”.
Interested entities could contact the following for further discussion:
Last edited by CariReporter on 11-3-2013 06:08 PM
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Post time 7-3-2013 10:06 AM
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