7 August 2024, MAHSA University
The key takeaways and challenges put forward to MAHSA students and all 15 higher learning institutions during the Engineering Science Technology Exhibition (ESTE) 2024 sharing session:
- Invent Invent Invent. Keep on trying. Thomas Edison took 1000 unsuccessful attempts before creating first light bulb.
- The higher learning institutions need to churn more medical devices products , get them certified & trade them globally. In 2023, Malaysia only transacted USD 11 Billion compared to global market of USD 780Billion. In 5 years global market will reach USD 1 Trillion. We only command meagre 1.5% of global market. There are more than 30K meddev and Malaysia only produce less than 100 products.
- Think big. Objectify your products to satisfy global market of 7.5Billion, not just mere 36Milion domestic market
- Learn & comprehend the rules and regulations , clinical, technical and know the barrier-to-entry. Technology is about speed. Do your SWOT.
Talk to the industrialists before you start your project. Get insights and learn different perspectives. You might learn a thing or two.
Good luck & Godspeed.
