UM Innovations Sdn Bhd (“UMI”) was established in 2015 to intensify the efforts of the UM Center for Innovation and Commercialization (UMCIC) by ensuring that the goals, mission and vision of the Center are met and at the same time help to improve the innovation and commercialization process by the University.
Innovation Incubator is a business support process that accelerates the successful development of our university spin-off companies by providing entrepreneurs with an array of targeted resources and services. UMI supports aspiring entrepreneurs in their entrepreneurial pursuits through Technopreneur Programme - a gateway to a comprehensive network of mentors and innovators, facilities, professional services, community and funding where your start-up is incubated successfully and will help the spin-offs to reach its fullest potential.
In the long run, UMI was also established to ensure the sustainability of the commercialization process and revenue generation by restructuring and having a clear division of functions between UMCIC and UMI.
However, at this moment, UMI provides the following services:
- Integrated Innovation Incubator Management Services which delivers a complete, professional and strategic incubator management services to University’s Spin-off Companies, UM’s Student Entrepreneurs and external industrial tenants.
- Manage and monitor innovation services to the University’s Spin-off companies in the areas of business planning, business strategy, marketing plans, product development, legal and technical advisory.
- Management of Incubator Service Labs to be a one-stop centre with MIDA’s free tax status for UM’s eligible labs.
- Continuous Professional Training in the area of commercialization of research products/outcomes.
- Management and monitoring of UM’s technological, intellectual properties and services which carries the slogan ‘Powered by UM Innovations’