Sunway University, through its innovation arm, Sunway Innovation Labs (Sunway iLabs), and Southeast Asia’s largest integrated car e-commerce platform Carsome, have forged a strategic partnership which includes the setting up of a Data Innovation Lab in Sunway University.
To be launched by the end of January 2022, the Data Innovation Lab aims to revolutionise Southeast Asia’s used car industry through data, and power the future of mobility by creating value in multiple areas including customer empowerment, sustainability, and cybersecurity.
The Data Innovation Lab involves a multi-disciplinary research consortium that consists of the Sunway University Business School, School of Engineering and Technology, School of Mathematical Sciences, and the stakeholders of Carsome.
Sunway University is the first to collaborate with Carsome on data innovation which will see various initiatives take place including collaborations involving student coursework, student hackathons and contract research and consultancy.
“Data is key in today’s fast-paced world, and it will shape the future to come. As a data-driven company, Carsome always wants to push social mobility through empowerment and education. We look forward to this industry-academic collaboration with Sunway University to accelerate the revolution of the region’s used car industry through capacity-building in data science and machine learning.” said Carsome Co-founder and Group CEO Eric Cheng.
Sunway Education Group CEO Professor Elizabeth Lee shared her excitement and is looking forward to working with their former students, including the founder Eric himself at Carsome, Malaysia’s first and largest technology unicorn.
“This collaboration will allow our students the opportunity to work on real-world solutions in one of the most exciting growth industries in the region as well as learn from Carsome’s data team who will, I’m sure provide them valuable insights into the possibilities of future careers in data.
“I am sure our students are also looking forward to gaining practical knowledge at a unicorn too,” she said.
Chief Innovation officer of Sunway Berhad & Director of Sunway iLabs, Matt van Leeuwen explained that the collaborative efforts between start-ups and academia will prepare the youth for Malaysia’s digital economy as well as accelerate innovation which will drive the nation’s economic sustainability.
Prior to the launch of the Data Innovation Lab, Sunway University and Carsome will co-host a hackathon where teams of Sunway University students will work hackathon-style on a used car database and price prediction system for one of Carsome’s key markets. The students will be mentored and assessed by members of the Carsome’s data team.
As a result of the hackathon, a predictive model will be built with consideration of data points such as car model, variant, manufactured year, colour, mileage, and historical transactions.