Small- and medium-scale enterprises (SMEs) seeking external partners may encounter problems caused by limited resources, time constraint and day-to-day operational issues.
SMEs, which represent more than 99 per cent of businesses in the country, often have a very strong network in their immediate industry.
However, outside their field of expertise, contacts tend to be limited, preventing them from enjoying higher growth and reaching bigger and more markets.
"In today's open and global knowledge economy, international linkages are critical, particularly between business and research organisations," InnovationXchange (IXC) Malaysia chief executive officer Hasannudin Saidin said.
He added that such links were still not strong possibly because companies or research institutions faced difficulties in finding suitable partners or business ventures.
Hasannudin told Business Times in Petaling Jaya, Selangor, that the company has the connection to link firms to tap the capabilities and technologies needed for innovation and business growth.
"InnovationXchange is about connections, collaboration and openness," he said.
Hasannudin said the establishment of IXC Malaysia as part of the international IXC network will enable Malaysian firms, research institutes and universities to identify collaborative opportunities quickly and safely.
IXC Malaysia is funded by the government, but expects to be self-sustaining by 2013.It currently has six clients, mainly in the information technology sector.
"Through our international connection and links with IXC Australia and IXC UK, we are able to look for suitable partners for a company around the world should it fail to find a suitor in its home country," he said.
Hasannudin said it has a long list of firms and their backgrounds in its vault that it can use to match for potential ventures.
"The list of companies we have is huge, thus the potential to successfully link two companies together for a business is very high," he said, noting that its success rate stands at more than 86 per cent.