KUALA LUMPUR, Jan 20 – UCSI University has signed a memorandum of understanding with Nets EcoVenture, which among others will see the university receiving a RM1 million research endowment to work on a low carbon initiative.

The MoU was signed between UCSI University’s Vice-Chancellor, Professor Datuk Dr Siti Hamisah Tapsir and Nets Group of Companies Director, Teh Leong Sim today at UCSI University’s campus here.

The MoU, aside from the endowment, will entail setting up a UCSI research excellence centre within the premises of Nets EcoVenture’s Food Farmercy, Agri-foodTech Innovation Hub at Technology Park Malaysia to work on efforts related to the inceptions of eco-innovation products.

“It can be expected that both parties, UCSI and Nets EcoVenture, will be effective partners in developing research capabilities and training programmes. In the preliminary discussions, Nets EcoVenture has agreed to grant a RM1 million research endowment to enable top researchers from UCSI, consisting of staff and students, to advance studies particularly in a low carbon initiative,” Siti Hamisah said in her speech.

Meanwhile, Nets EcoVenture Chief Executive Officer, Loh Yeah Hui described the MoU ceremony as a “timely event to drive sustainable growth to a new level”.

“At Nets EcoVenture, we look at producing, educating and creating a sustainable system to address common problems, including that faced by the food banks.

“We stand at the beginning of a new decade. With the call for achieving Sustainable Development Goals (SDGs) and circular economy, we started to focus on value co-creation using the consumer-centric approach to create value for all stakeholders particularly the consumer and service provider,” she said in her speech.

Nets EcoVenture, formed as a sustainable project development arm of Nets Group of Company, promotes sustainable development and is actively involved in driving environmental management and eco-innovation.