Motivate Innovation and Entrepreneurs
In order to facilitate UM industry-academia collaboration, the UMDF supports the Centre for Innovation and Entrepreneurship (CIE) to launch a funding scheme for innovation and entrepreneurship in 2018 to encourage UM teams to translate innovative ideas into reality. With the UMDF’s support, the CIE serves as a ‘runway’ for projects started by teachers and students. It helps the start-ups take off at the early stage of incubation so that they can enter into market operation. Since its inception, the CIE has been promoting the interaction between UM and the government, education institutions, enterprises, incubators, venture capital firms and entrepreneurial tutors, among other parties. It has been approved as the National Co-working Space by the Minister of Science and Technology of China.
Facilitate Technology Transfer
The UMDF has strived to initiate dialogues between the University and local business sector as a means to facilitate the matching of UM potential projects to entrepreneurs. The Foundation has served as a platform for the internal start-ups with market potential to reach out to investors to commercialise its research outputs.