Final answer:
Malaysia's National Technology and Innovation Sandbox (NTIS) is an initiative to foster innovation by providing a regulatory sandbox for startups and businesses. COHORT CONSTRUCTION within NTIS groups innovators into cohorts for shared learning and collaboration. This is part of Malaysia's strategy to combat globalization forces and bolster the national economy.
Step-by-step explanation:
The approach of Malaysia's National Technology and Innovation Sandbox (NTIS) is a strategic initiative aimed at accelerating the development of innovative solutions and their commercialization in the country. NTIS functions as a platform where startups, businesses, and researchers can test and validate their products and services in a controlled, regulatory environment before they're introduced to the market. This effort is part of Malaysia's broader strategy to use their own labor and resources to enhance national wealth and the standard of living for its citizens.
Within this framework, COHORT CONSTRUCTION is a methodology used within the NTIS initiative. It involves grouping together selected startups or innovators who are working in similar areas or on related technologies. These groups, or cohorts, then progress through the sandbox simultaneously. Working as a cohort can provide additional benefits such as peer learning, resource sharing, and potential for collaborations, all while being under the guidance of the NTIS, which facilitates their journey from idea to a viable product or service in the market.
Malaysia's strategic innovation programs, including the NTIS, are part of a wider effort to contend with globalization forces and establish stronger economic relationships in the international network.