|Innovation Ecosystem China|
Shanghai, China - September 24, 2019 - Innova Research, a leading market research and technology scouting service provider based in Shanghai, China, recently finished a consulting report on China's innovation ecosystem. According to the report, the Chinese innovation ecosystem is set to improve, bringing large opportunities to corporate R&Ds, corporate VCs, and other investors both in and out of China.
One of the evidences is the efforts made by municipal and provincial governments to remove policy barriers of technology commercialization. For example, Mr. Chen Jining, Mayor of Beijing, the capital city, recently announced that the city government was pushing to launch a landmark legislation, named "Regulations on Accelerating Technology Commercialization", which would allow individual researchers in state-owned universities and research institutes to have the ownerships of the inventions and technologies produced on duty.
In China, the vast majority of top universities and research institutes are state-owned, and therefore, intellectual property created by professors and other researchers on duty are treated as the property of the state. Currently, universities and research institutes are in charge of managing the intellectual property on behalf of the state. While the lack of ownership significantly reduces the enthusiasm of the individual researchers to commercialize their technologies, university managers have little motivation to push forward the technology commercialization either. As a result, the commercialization rates of the technologies and inventions from top Chinese universities and research institutes are much lower, averagely, than those of their counterparts in the United States and Europe.
To overcome the barrier of technology commercialization, the above mentioned draft regulation stated that, while the universities could share the future profits and other benefits, the ownerships of the intellectual property could be granted to individual researchers directly. This will be the first local legislation in China to grant the ownerships of the intellectual property that is produced on duty to individual researchers, and such legislation will no doubt give strong motivations to individual researchers to commercialization their technologies, or seek proper partners to license out their technologies.
Richard Jun Li, the founder and general manager of Innova Research, commented:" In fact, the launch of such legislation in Beijing is likely to be followed by other major Chinese cities, and therefore has a chance to create a nation-wide legislation in the future. This will bring a large number of technology spinoffs based on the technologies and inventions from the universities and research institutes, and therefore creates large opportunities for corporate R&Ds, corporate VCs, and other investors seeking technology partners and investment targets in China."
For more information, please contact Richard Li, at Richard.firstname.lastname@example.org