Integration of Triple Chain Between Innovation, Industry and Capital

How do companies identify market opportunities while facing challenges due to insufficient technical support?

Dr. Tan gives us an example of a pharmaceutical company to illustrate the key role of technology in this.

In the process of enterprise research, Coway found that a pharmaceutical company in Hubei Province wanted to seek a new biotechnology. According to the actual situation of the enterprise, through the global technical channels, Coway organized professionals to conduct domestic and foreign market research and analysis, conducted technical comparison and demonstration, and finally determined the introduction of a European company's microbial fermentation method to produce vitamin B2 technology. Coway helped the enterprise to carry out international business negotiations, and sent engineers with many years of experience to the enterprise to help the enterprise complete the technical verification and handover, and realize the technology transfer. After the introduction of this technology, the product quality of the enterprise has been improved and the production cost has been reduced.

With more and more such cases, Dr. Tan's career as a technical manager is becoming increasingly familiar to more people than it was 30 years ago. "There are many expressions for technology commercialization in China, such as the transformation of scientific and technological achievements. But if it comes down to the specific career direction, I think our target is the relatively mature technical manager position in the world." Dr. Tan said.

Li Jizheng, deputy dean of the School of Economics and Management of Tsinghua University and associate professor of the Department of Innovation, Entrepreneurship and Strategy of the School of Economics and Management of Tsinghua University, found in previous research that what China currently lacks in the transformation of scientific and technological achievements is high-quality intermediary agencies. If the intermediary agencies do well, or they can form a good network, it will have a profound impact on academic entrepreneurship.

However, building a team of technical managers means that strong professionalism is required and the threshold is extremely high. Dr. Tan said that a qualified technology transfer service organization must have the following points, such as specialization, risk control, strategic focus, global resource pooling, technology integration and engineering capabilities, successful commercialization model and close integration with capital.

Looking back on the twenty years' experience of Coway, Dr. Tan summed up his methodology with "triple chain integration". The so-called triple chain integration refers to opening up the barriers between the innovation chain, the industrial chain and the capital chain. "An enterprise needs a variety of resources in the process of growth, it can not only scientific and technological innovation, but also need to have industrial support, of course, also need to have cash flow support. It's a complex system project."

In Dr. Tan's view, "The existence of technical managers is definitely not simply to solve the problem of information asymmetry or technological perfection. We hope to build a reaction factory of innovative elements, division of labor, and integration with the industrial chain, let professional people do professional things."

If the key business of Coway in the first two decades is to help foreign enterprises come in, then Dr. Tan believes that today, with the continuous enhancement of domestic research and development strength and practice accumulation, the technological gap with foreign countries has narrowed, overcapacity in some domestic industries, and market competition has intensified. The willingness of Chinese enterprises to go out is also getting stronger and stronger, and the company plays an important role in helping Chinese enterprises to go out.

Source| Coway International TechTrans Co., Ltd.