Developing a strategic layout for technology transfer in a timely manner

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Yan Mingfeng (Chief Executive Officer, National Center for Technology Transfer East)
Moving towards a science and technology innovation center with global influence, the mission of the National Center for Technology Transfer East is to carry out a strategic layout of technology transfer. The issue of technology transfer should be considered from the perspective of worldwide industrial transformation and upgrading and China's stage of economic development. It is only when the time and space scales are larger that we can see the big "potential", and only when we move with the trend can we achieve success.

In the strategic layout of technology transfer, we focus on two core pieces: first, what is the joint that improves technology transfer and technology transformation? Second, how does capital fit organically into each stage?

To create a technology transfer environment, build a resource network, and collect more technology supply and demand, the premise is that there is always more to match and transfer; to gather all kinds of service institutions in the whole process of technology transfer, find more matches, and then solve all kinds of obstacles that affect transfer other than technology, the premise is that the technology can be transferred, but the supporting services are not enough; to use capital and similar capital means such as The logic of the premise of securitization or exchange accommodation is still essentially technology transferable, it just needs catalysts, lubricants and a centralized trading venue. In fact, none of this is really about doing a lot or improving quality yet, just about making what could have happened happen and manifest.

The core of technology transfer is the "transfer" of technology, which requires that the technology be in a transferable state and that both the supply and demand sides of the transfer have clear objectives. Worldwide, no matter how good the institutional and market environment of the pioneer countries is, technology transfer is still not smooth, not because of the lack of resource base, not because of the lack of professional service institutions (including patent analysis, legal, transaction structure design, etc.), nor because of the lack of mature and perfect capital market, but the most essential reason - the lack of a mature and perfect capital market. -There is a gap between the supplied technology and the commercially available and industrialized technology needed by the demand side, and even if the technology is already industrialized and transferred, there is still a process of readjustment according to the clear use of the demand side. The market spontaneously bridges the gap and drives innovation. Thus, there is the phenomenon of horizontal research projects by research institutes, independent professional CROs in the market, and university-derived companies that bridge the gap through different paths.

The East Center is experimenting with another path, or a reconfiguration of existing paths. We have built an experimental platform in conjunction with industry: to externalize the research institutes' horizontal projects and create a more flexible mechanism that also has the capacity of CROs to generate derivative companies more directly and to better design the structure of derivative companies to get better access to capital support. Our experimental platforms are organized from an industrial perspective in terms of sites, equipment resources and operations, and are even designed and operated directly by engineering researchers from industry and capital market experts from the investment community. We try to use a number of experimental platforms as vehicles on which to build a small environment specifically designed to bridge the gap: people and patents at the source of the technology + the platform's own system architecture talent + industry engineers + small teams of innovators + venture capitalists + business people who have been in the industry for years + students eager to practice + large companies looking for talent and innovation.

In the process of technology transfer and transformation, we need to guide the all-round organic integration of capital. We set up a pool of funds closely related to technology transfer and transformation, and design a mechanism for bundling benefits and redistribution according to the risk appetite of funds of different attributes. Such a pool needs to be: funds for operating technology assets, which receive returns from the appreciation and disposal of technology assets; funds for the technology product development process, which receive returns from technology licensing fees and ex-post product sharing; funds for technology project venture capital, which receive high yield returns from technology project venture capital, which are used to begin the commercialization of technology products and to form the business process; and funds for mergers and acquisitions. To reap the rewards of synergies resulting from the reconfiguration of elements.

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