IsDB Co-sponsors the 1st IIUM Prosumer Convention (IWPC) in Kuala Lumpur

“Translating Innovation to Wealth”
IsDB Co-sponsors the 1st IIUM Prosumer Convention (IWPC) in Kuala Lumpur

IsDBG Regional Office, Kuala Lumpur, Malaysia, 10.08.2017 – The International Islamic University of Malaysia (IIUM) is currently hosting the 1st IIUM World Prosumer Convention (IWPC) in its Gombak campus in the capital city of Kuala Lumpur. The IWPC, co-sponsored by the Jeddah based Islamic Development Bank (IsDB) Group under the theme: “Translating Innovation to Wealth”, is a biennial event for researchers, scholars, industries & innovators from all over the world to address the 21st century
opportunities and challenges through various conferences, prototype competitions, forums, exhibitions and industry matching.

The ceremony was opened by a message from Malaysia’s Minister of Higher Education, YB Dato’ Seri Idris bin Jusoh. In his message read out by DATIN PADUKA IR. Dr. Siti Hamisah Tapsir, Director General of Higher Education, the Minister congratulated IIUM for having the initiative and determination to support innovators and entrepreneurs and help them transform themselves from passive consumers to active prosumers. The message from the Malaysian Minister of Higher Education described the IsDB-IIUM
co-sponsored event as in line with the country’s efforts in realizing the Malaysian government’s plans for having a fully developed economy by the year 2020. “To do this, we have to focus on developing our talents and innovation based knowledge. Conventions like these provide the proper grounds to bring together the academia, civil society, industry, and the government to move the country forward”, the Minister’s message read. Elsewhere in his message, the Malaysian Minister of Higher Education
referred to “the looming challenges of the fast approaching 4th industrial revolution” stating: “we have to prepare ourselves to be key players in the world economy and not be left behind.”

Amongst the landmark events during the 1st IWPC was the 2nd “Pitch Your Product” competition (8-9 August) in which 54 innovators and researchers of all age groups and backgrounds presented their ideas and innovations to a panel of judges of science, technology, innovation, legal and entrepreneurial backgrounds including panelists from IsDB’s Knowledge Management and Innovation Department (KMI). The event meant to tap into and support the unheard talents at local, regional and international
levels to cultivate entrepreneurial minds among participants to complement their innovative skills.

During her welcome remarks at the opening ceremony, IIUM Rector, YBhg. Prof. Dato’ Sri Dr. Zaleha Kamarudin, expressed the university’s commitment in discovering innovative ways to upgrade the quality of life for Mankind. “By sharing knowledge, cooperating and supporting each other, we can all achieve more and together we will prosper”, stated Prof. Kamarudin. “The idea of Prosumerism is brought forth with the rapid advances in information technology. It is all about merging of roles between
producers and consumers, thereby saving more time and resources while improving procedures and practices”, she added underlining that “consumers are no longer following trends set by producers, rather, they are setting their own trends by producing their own products in accordance with their own specifications, selling them to other consumers.”

The 1st IWPC which is to continue till Friday 11 August, has brought in around 1000 local and international presenters and participants from schools, colleges, universities, private and national labs and industries from around the world to attend 42 different activities including several international conferences on: technology transfer in the Muslim world, advances in manufacturing & materials engineering, as well as achievements in mathematical applications and mechatronics engineering.

Also, an International Halal Exhibition on the sidelines of the 5 day event is showcasing the services and achievements by researchers and innovators from Malaysia and other Muslim and non-Muslim countries in several fields including; bio-technology, pharmacology, dentistry, chemistry and nanotechnology.