MaGIC, Malaysian Global Innovation and Creative Centre sign MoUs with Stanford University and UP Global

MaGIC sign MoUs with Stanford U. and UP Global CYBERJAYA: Prime Minister Datuk Seri Najib Tun Razak tonight witnessed the signing of memorandum of understandings between the Malaysian Global Innovation and Creativity Centre (MaGIC) and Stanford University and UP Global to foster and develop a vibrant entrepreneur eco-system in Malaysia.

Strongly backing the MaGIC concept, Najib said he believed in young people for their passion, energy and creativity.

"Hence opportunities and the ecosystem have got to be created for them to succeed.

"This is the just the beginning of a success story. We want to churn out young entrepreneurs who can command the world stage in the future," he said in his speech.

MaGIC, the one-stop centre which will provide all necessary facilities for entrepreneurs, aimed to transform Malaysia into a dynamic entrepreneurial nation by enabling domestic and international entrepreneurs to successfully start and grow their businesses.

Two of Stanford University's world-class schools, the Stanford Graduate School of Business and the Stanford School of Engineering, will collaborate with MaGIC.

Meanwhile, the partnership with UP Global is designed not only to increase the level of entrepreneurial activity and new company creation in Malaysia but also to develop Malaysia as a global startup hub and a center of activity for South East Asia.

Other collaborations that would complement MaGIC's efforts would be between the Malaysian Biotechnology Corporation and the California Institute for Quantitative Biosciences.

The collaboration would serve as a launching pad for the Bio-Entrepreneurship Programme which aimed to create an environment to enhance the commercialisation of bio-based products and services by local biotechnology researchers and entrepreneurs.

In addition, Malaysia Venture Capital Management Bhd (MAVCAP) also marked the kick-off of its third outsourced partner programme (OSPR) with its first OSP3 partner, Elixir Capital Management, a Silicon Valley-based fund manager to launch the ECM Strait Fund.

The Strait Fund would target growth equity investment opportunities in order to help scale up small to medium enterprises in the Asean region.

MAVCAP also signed a limited partnership agreement with a commitment of US$5 million from MAVCAP with 500 Durian LP, a local fund which aimed to invest in startups in the Southeast Asian region.

Durian LP would be managed by a California-based seed accelerator, 500 Startups.

These collaborations would further build entrepreneurship development programmes and accelerate the growth of an entrepreneurial nation while complementing MaGIC's initiatives

After the signing ceremony, Najib toured the MaGIC centre, located in Cyberjaya, a city poised to become the global technology hub.

US President Barack Obama is expected to launch MaGIC on Sunday in conjunction with his three-day visit to Malaysia beginning tomorrow.

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Obama to lend MaGIC touch 

Big role to play: The MaGIC in Cyberjaya will get some sound advice from Obama.

PETALING JAYA: The Malaysian Global Innovation and Creative Centre (MaGIC) in Cyberjaya, which is tasked with transforming Malaysia into a dynamic entrepreneurial nation, will get some sound advice – from President Barack Obama.

The United States leader will stop by in Cyberjaya on Sunday to be briefed and also provide a pep talk.

Special Envoy to the US Datuk Seri Jamaluddin Jarjis said it was a top priority to bring the president to the centre “to provide the inspiration.”

“The Government’s aim is to make Malaysia a high-income nation and to create a knowledge-based economy. MaGIC has a big role to play.

“The United State is all about innovation and there can be no better opportunity than having the president visit the centre,’’ he said.

Prime Minister Datuk Seri Najib Tun Razak, who has allocated RM50mil to MaGIC, is scheduled to accompany Obama to the centre after their talks in Putrajaya.

The president will witness the signing of an MoU between MaGIC and the Stanford Centre for Professional Development (SCPD) from The Leland Stanford Junior University, and with UP Global, a non-profit organisation set up to provide support for entrepreneurs.

The collaboration with SCPD will enable local entrepreneurs to enrol in courses and programmes while they continued with their businesses.

With a long history of creating talent for renowned multinational such as General Electric and Hewlett-Packard, SCPD was founded by Frederick Terman, better known as the “Father of Silicon Valley” who was the university’s Dean of the School of Engineering.

It is learnt that under the arrangement, SCPD faculty members would be brought to the centre to help in the transfer of knowledge with local entrepreneurs sent there to learn and meet with venture capitalists.

The second MoU with UP Global is a result of the 4th Global Entrepreneurship Summit (GES) held in Kuala Lumpur last year with the theme “Empowering and Connecting Entrepreneurs” organised by the Finance Ministry.

US Secretary of State John Kerry, who attended the GES event here, said the US would enter into a partnership to train 500,000 entrepreneurs from Malaysia and around the world over the next few years in 1,000 cities, including Kuala Lumpur.

Contributed by Paul Gabriel and Lim Wing Hooi

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Obama's loss of balance, his Diaoyu Islands vow 'may backfire'

US president barack obama may have congratulated himself in private for apparently pulling off a difficult balancing act, but if so, he is being a little too hasty.

He offered his anxious Japanese host the reassurance Tokyo was so desperately begging for: The confirmation that the territory it stole is covered by the US-Japan security treaty.

Then, so as not to infuriate the attentive owner next door, he stated that this "is not a new position", nor one of his making, as the US-Japan treaty preceded his birth, and he reconfirmed that Washington takes no sides in the sovereignty dispute over the islands.

However, swaying to and fro on the tightrope he was walking, Obama's balancing act was lopsided at best, because it was conspicuously biased in favor of the troublemaking Japanese prime minister.

By deliberately ignoring the Cairo Declaration, the Potsdam Proclamation, and the terms of surrender Japan agreed to at the end of World War II, Obama has betrayed the postwar international order and endorsed Japan's de facto control over the Diaoyu Islands, which should have been returned to China under the terms of these legally binding agreements.

Extending the US-Japan security treaty to those islands is both morally and legally wrong.

Obama should not expect Chinese connivance in his turning a blind eye to Japan's thievery and its claims of innocence.

It was the Japanese government that unilaterally changed the status quo. The dispute over the Diaoyu Islands had cooled down until Japan poured kerosene on it and set a match to it by "nationalizing" the main islands.

Obama's praise of "Japan's long-standing commitment to international peace and security" is grating on the ear - and not just to China - because he once again chose to ignore the elephant in the room, saying nothing about Japan's denial of its militarist past and rightist present. By tacitly endorsing Japan's actions, he is giving Shinzo Abe carte blanche to continue destabilizing the region.

That Obama has cast aside the strategic ambiguity others have tried hard to preserve may be good in one sense - it helps to relieve some of the wishful thinking that Washington doesn't condone the antics of Japan's right-wingers.

But since he has voluntarily bound his country to Abe's war chariot, instead of breathing a sigh of relief that he has completed his balancing act, he might want to start considering how he is going to untie the knots and tame the adventurous Japan under Abe, or prepare to be dragged into an unwanted conflict.

Diaoyu Islands vow 'may backfire'

The PLA is fully capable of safeguarding China's Diaoyu Islands, says spokesman

US President Barack Obama's promise of military cover for Japan's claim on the Diaoyu Islands faces the potential of backfiring, observers said.

Obama stated in a press conference in Tokyo on Thursday that the US-Japan mutual security treaty covers China's Diaoyu Islands.

"We do not believe that they should be subject to change unilaterally, and what is a consistent part of the alliance is that the treaty covers all territories administered by Japan."

The forthright remarks from Obama are widely interpreted as a display of Washington's strong commitment to its Asian allies designed to dispel suspicion of weakening US clout in the region.

Obama is on a four-nation tour that was postponed seven months ago because of the US government shutdown. He faced flak at the time for postponing the trip, both in the US and overseas, amid criticism that the US was preoccupied with domestic affairs at the expense of its international commitments.

Responding to Obama's comments, Defense Ministry spokesman Yang Yujun said that the Chinese army will continue military patrols in "relevant waters" in the East China Sea.

The Chinese military is "fully capable of safeguarding the Diaoyu Islands, and it is unnecessary for other nations to go to extreme lengths to provide a so-called security guarantee," Yang said, adding that China will firmly safeguard territorial sovereignty in the face of provocation from Japan.

Ruan Zongze, vice-president of the China Institute of International Studies, said Obama's remarks may lead to unforeseen problems because the military commitment — directly naming specific islands — could "sabotage US strategic initiatives in the region" and undermine its strategic flexibility.

"As a result, Tokyo is keeping Washington in check in this regard, and, honestly, the ruling Japanese cabinet is very unpredictable," Ruan said.

Ruan noted that Obama's remarks about the islands "also harm the credibility of the US", because instead of taking an honest broker's viewpoint the US is firmly backing one side and this has the potential to cause problems.

With Japanese Prime Minister Shinzo Abe beside him, Obama told reporters that he had not drawn any new "red line" over the islands, and he emphasized the need to resolve maritime disputes peacefully.

"The treaty between the US and Japan preceded my birth, so, obviously, this isn't a red line that I'm drawing," Obama said. Li Haidong, a researcher of US studies at China Foreign Affairs University, said Obama's visit to Japan aimed to boost Japan's status as a "pillar" of Asia-Pacific security and as a key player in containing China.

But, Li said, the two allies have different agendas.

"The US seeks stability in the big picture of its relationship with China, yet Japan is not afraid of fanning the flames of a conflict with China," Li said.

The US-Japan defense treaty requires Washington to come to Japan's defense if it is attacked.

Experts said Washington believes that backing Tokyo will have long-term benefits.

Lyu Yaodong, an expert on Japanese diplomacy at the Chinese Academy of Social Sciences, said Obama is "determined to see tangible progress in his rebalancing strategy" during his Asian trip, and "to achieve this goal, satisfying demands from Japan regarding the islands is necessary".

Abe told reporters on Thursday that "the Japan-US alliance is more robust than ever before."

"The US pivot cannot succeed without strong support from important allies such as Japan," Lyu said.

Ruan noted a shift in the US-Japan military relationship, and one example is that the US is "outsourcing" more defense duties to Japan.

"Washington believes that its promise on the islands is a feasible way to strengthen its influence over Japan, and accordingly Washington wants Japan's self-defense forces to play a greater role, which is very dangerous," Ruan said.

Yang, the Defense Ministry spokesman, also confirmed what Chinese Navy Commander Wu Shengli said on Wednesday about a worst-case scenario.

Wu told reporters on the sidelines of the Western Pacific Naval Symposium that the possibility of a military conflict remains between China and Japan, and the priority is to "prevent the outbreak of a conflict".

Yang also said the PLA will continue military patrols in waters near a tropical Japanese island close to Taiwan, days after Tokyo announced it would break ground on a new radar base in the area.

The radar station on Yonaguni Island, just 150 km from the Diaoyu Islands, marks Japan's first military expansion at the western end of its island chain in more than 40 years.

"We are paying close attention to Japan's military trends," he said.

"China's military will continue to carry out battle readiness patrols, military drills and other activities in the area," Yang said.

- By Zhang Yunbi, China Daily

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Asia future at risk if Obama sends wrong signals to Japan

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Asia future at risk if Obama sends wrong signals to Japan

US President Barack Obama steps from the Air Force One as he arrives in Tokyo, Japan on April 23, 2014. Obama began a four-country trip through the Asia-Pacific region on Wednesday. (Left)

Future hangs in the balance

The US president should persuade Japan's right-wingers of the error of their ways during his trip to the region to ensure stability.

After undergoing nearly seven decades of development since the end of World War II, Asia has already taken on a new look, witnessing not only the rise of a group of industrialized countries and regions during the latter part of the 20th century, but also the emergence of a number of economies that have grown to be the engine of global economic growth in the new century.

However, Asia's development is still unbalanced.

First, Asia's political cooperation is out of step with its economic dynamism. Political trust, particularly in East Asia, is still severely lacking. The actions and comments of Japanese right-wingers, who go so far as to complain of injustice when it comes to the Tokyo Trials and try to strengthen the country's control of territory it annexed illegally during its imperialist past, have undoubtedly sown the seeds of deep mistrust among East Asian countries.

Second, in the context of the strained relations between some countries in the region, some Western media have been hyping speculation that the Asian economy might slow further. It is true economies in East Asia have recently experienced moderate or medium-speed growth after years of high-speed expansion. But this tendency is in line with the law of development, and also is connected to the fatigued global economy. Even so, the development speed of Asia's emerging economies still far exceeds that of Western developed countries, and their momentum is increasingly reshaping the global landscape.

Because of the existence of various rifts and the lack of mutual trust, the region is in desperate need of candid dialogue. The trust deficit in Asia has affected the progress of regional economic cooperation, but at the same time it also suggests that there is great potential for further economic, investment and trade cooperation in the region, including the construction of regional free trade areas.

Asia needs to accumulate constructive positive energy, give full play to the spirit of countries being in the same boat, and effectively alleviate regional tensions to change the negative factors into positive elements. Moreover, Asia should oppose any shortsighted actions to set up small cliques.

Currently in Asia, there are serious differences between those countries adhering to unity and cooperation to benefit all and those trying to form cliques and factions to benefit themselves. It is Japan that is leading such divisiveness, as it has tried to piece together an Asian version of NATO, and antagonized its neighbors by clinging obstinately to its denial of historical facts and even embarked along the road of glorifying aggression.

Any responsible power must go all out to contribute to regional peace and stability based on human morality and justice. As a great power with tremendous economic and military presence in the region, how the United States sets out its Asia-Pacific position will make all the difference to Asia's stability and development. Whether Washington will offer constructive cooperation to Asian countries' efforts to enhance mutual trust and erase the doubts of its intentions has a direct bearing on regional peace, as well as the US' own strategic interests.

Thus the eyes of the world are focused on US President Barack Obama's four-nation trip to Asia that began in Japan on Wednesday.

If the US can aim high and think big and cooperate sincerely with countries in the region to establish a common security and trust mechanism that is suitable to the characteristics of the Asia-Pacific region, it will surely receive a share of Asia's peace dividend and be genuinely welcomed among Asian countries.

However, if the US is unwilling or unable to contribute to Asia-Pacific stability, and instead takes sides in the region's various historical and sovereignty disputes, it will be hard for the country to become the kind of responsible power that can benefit Asia. If the US only looks at short-term interests and sits watching Japan turning its military ambition into reality step by step, not only will the troublemaker's interests be ultimately damaged, but also those of the US.

History has repeatedly shown us that a country that employs a policy of appeasement will eventually shoot itself in the foot.

The author is a professor and associate dean of the Institute of International Studies, Fudan University.

Contributed by Shen Dingli  China Daily

Japan reassured over Diaoyu

U.S. President Barack Obama (R) waves next to Japan's Prime Minister Shinzo Abe after dinner at Sukiyabashi Jiro restaurant in Tokyo, April 23,2014  (left)

US President Barack Obama started his four-nation Asia tour on Wednesday by overtly supporting Japan over its disputed territory with China, which experts say will exacerbate the already tense situation in East Asia.

In a written interview with The Yomiuri Shimbun published on Wednesday, Obama stated that the Diaoyu Islands in the East China Sea fall under Article 5 of the Japan-US Security Treaty, which obliges the US to protect Japan if there are conflicts over Japan-administered territories. He also supported moves by Japan to ease self-defense limits in his remarks.

"We oppose any unilateral attempts to undermine Japan's administration of these islands," Obama said, adding that the US engagement with China "does not and will not come at the expense of Japan or any other ally."

While Japanese Prime Minister Shinzo Abe has been seeking to ease the restrictions on its collective self-defense rights prohibited by Japan's Pacifist Constitution, Obama welcomed Japan playing a greater role in international security.

"I commend Prime Minister Abe for his efforts to strengthen Japan's defense forces and to deepen the coordination between our militaries, including by reviewing existing limits on the exercise of collective self-defense," Obama said, requesting Japan's Self-Defense Forces "do more within the framework of our alliance."

This is the first time that an incumbent US president has made such open remarks in support of Japan.

"Abe, more than any of his predecessors, has made headway on what Washington has long wanted from Japan, to become a more assertive partner in regional security," Jeff Kingston, director of Asian Studies at Temple University Japan Campus, told the Global Times.

Obama, who is making the first full state visit to Japan by a US President since 1996, is expected to assuage worries by Tokyo and other allies regarding his commitment to their defense, without hurting vital US ties with Asia's biggest economy - China.

Such assurances are likely to be high on the agenda when Obama meets Abe at a symbolic summit on Thursday.

"If Obama intends to improve relations with China, he is likely to antagonize the ally. To the extent that he improves relations with the allies, he'll antagonize Beijing," Kingston said, adding that Obama is on a "mission impossible."

"Obama wants a better relationship with Beijing, but he thinks that Beijing also needs to think about modifying its behavior," Kingston noted.

Shi Yinhong, director of the Center on American Studies at the Renmin University of China, said the remarks are intended to warn China while reassuring Japan and other US allies of its security guarantee, which has been under suspicion due to the way the US has dealt with the Ukraine issue.

"Japan will be very satisfied this time. But this will encourage Tokyo to step up its confrontation with Beijing," Shi told the Global Times, adding that it will further strain tensions in Asia and even damage Sino-US relations.

Japan has ramped up its military surveillance capabilities on its westernmost island of Yonaguni, which is close to the Diaoyu Islands, by starting construction of a radar unit on Saturday.

Reiterating that the Diaoyu Islands are an inherent part of China's territory, China's foreign ministry spokesperson Qin Gang said China is strongly opposed that the islands being part of the security treaty, which was reached during the Cold War and should not damage China's sovereignty and rightful interests.

Obama and Abe are also keen to show progress on a two-way trade pact. This is seen as critical to a broader regional deal that would be one of the world's biggest trade agreements and is central to Obama's "pivot" towards Asia.

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