Kuala Lumpur, 15 December 2021 – Altair (Nasdaq: ALTR), the global leader converging simulation, high-performance computing (HPC), and artificial intelligence (AI), is now a technology partner of the National Technology and Innovation Sandbox (NTIS), an initiative under the Ministry of Science, Technology and Innovation (MOSTI), led by the Malaysian Global Innovation and Creativity Centre (MaGIC) as the lead secretariat. The onboarding of Altair makes mentorship, consultancy, and technology tools available to start-ups, small and medium enterprises (SMEs), in Malaysia. The goal is to accelerate development and commercialization of innovative solutions, be it products or services, thus increasing speed to market, resilience, and competitiveness.
“Altair is honoured to be a technology partner of NTIS. Being a global technology company, we have a track record of empowering enterprises across industries by customizing solutions through data analytics, simulation, Artificial Intelligence (AI) and high-performance computing (HPC) to address unique business challenges. Beyond the technology, it is about helping businesses enhance efficiency, boost return on investment, improve bottom-line, optimize resources, and elevate innovation to not only survive, but thrive. We call on enterprises to seize this opportunity to move quickly from ideation to realisation with their respective innovations in the safe, high-tech environment of the sandbox, regardless of where they are in their R&D cycle”, said Altair Managing Director for ASEAN and ANZ regions, Srirangam Srirangarajan.
NTIS, established in August 2020, was launched under the National Economic Recovery Plan (PENJANA) initiative. Its role is in propagating the use of emerging technology, particularly in addressing the challenges brought on by the pandemic, stimulate growth for the industry, and revive the economy through new initiatives.
The NTIS facility enables researchers, innovators, start-ups, and high-tech entrepreneurs to test products, services, business models and delivery mechanisms in a live environment.
“Altair brings invaluable experience and expertise to this synergy, and we’re excited to elevate the sandbox’s capabilities to empower enterprises. Malaysian businesses with ideas of new products and services for the local market and beyond will be supported throughout, from the R&D stage all the way to commercial readiness. This includes consultancy at the application stage, availability of research facilities with the best of breed product development technologies, and resources such as labs and testbeds, funding and finally, access to the greater market. The pandemic has presented us with a challenge to rise and embrace change and vault the country towards becoming an innovation driven economy,” said MaGIC Acting Chief Executive Officer, Amiruddin Abdul Shukor.
Within a decade of its presence in Malaysia, Altair has built a solid portfolio of advanced solutions that address unique challenges for sectors across the board. These include condition monitoring and predictive maintenance for turbomachinery that are critical in the manufacturing sector, automating bus roll over passenger safety simulations for the automotive industry, data aggregation and risk analytics for banking and finance institutions, and human resource analytics for organizations in general, to name a few.
“While digital innovation is increasingly being harnessed to enhance the competitive advantage among businesses, speed to market is an essential component for start-ups to ensure their survival and growth in competitive markets. This highlights the ever-growing need to ensure your business is leveraging technology solutions that best meet your unique business challenges and needs. With this partnership, we are geared to deliver just that”, said Srirangam.
Addressing the current needs of the Malaysian economy, NTIS empowered by Altair’s expertise and know-how, welcomes industries from targeted socioeconomic sectors that can enable Malaysia to solve some of the grand challenges that the country is facing such as in medical and healthcare technology, manufacturing, agriculture, education and travel and tourism. While open to all types of technologies, focus is given to technology drivers in the realm of 5G/6G, drones, blockchain, 4D/5D printing, robotics and cybersecurity and encryption.
NTIS applications have been open since 15 July 2021 and have been receiving great enthusiasm with over 500 complete applications, to date. Interested parties may log on to www.sandbox.gov.my to apply and get more information about how your company can benefit from NTIS.
About Altair (Nasdaq: ALTR)
Altair is a global technology company providing software and cloud solutions in the areas of simulation, high-performance computing (HPC), and artificial intelligence (AI). Altair enables organizations across broad industry segments to compete more effectively in a connected world while creating a more sustainable future. To learn more, please visit www.altair.com.
About Malaysian Global Innovation & Creativity Centre (MaGIC)
MaGIC discovers and empowers technology start-ups and social innovators through creativity, innovation, and technology adoption, and develops a vibrant and sustainable entrepreneurship ecosystem in Malaysia. Since its inception in 2014, MaGIC has provided its community of start ups, investors and ecosystem players with capacity building programmes, market and funding opportunities, and regulatory assistance that have impacted more than 100,000 aspiring and seasoned entrepreneurs with overall value creation of RM1.9 billion. As an agency under the Ministry of Science, Technology and Innovation (MOSTI), MaGIC facilitates, navigates and enables the ecosystem with the mission of strengthening Malaysia’s position as an emerging innovation nation. For more information on MaGIC, please visit www.mymagic.my
