Innovation Management BINASIA – Viet Nam National Workshop January 2005 Hanoi, Viet Nam N. Srinivasan Asian and Pacific Centre for Transfer of Technology New Delhi, India

Successful exploitation of new ideas Transformation of knowledge into commercial products or services A catalyst – an ingredient in a process to create and sustain wealth Fundamental source of competitive advantage What is Innovation ????

Why Innovation ???? Globalization – Technologies and economies Shift of emphasis from manufacturing to knowledge- based economies Shortening life cycle of products Introduce new and improved, added-value products and services To be competitive Achieve profits Re-invest profits in the business

Macroeconomic Environment Technology, Innovation and Diffusion Human Resources: Education, Health and Labour General Infrastructure Public Institutions: Contracts and Law Cluster Development Company Operations and Strategy Public Institutions: Corruption Domestic Competition Environment Growth Competitiveness Index (2004)

Source: The Global Competitiveness Report , World Economic Forum

Critical mass of commercially oriented research expertise Industrial technology users Investors and consultants New talents & new money Sustainable Innovation Environment

Innovation Process: Linear to Systemic Approach Linear ( out going ) Systemic ( up coming ) TargetTechnological process The entire value chain SourceUni-sectoral R&D Multi-sectoral R&D Cross-pollination of ideas ProcessPeriodic Continuous Science is the conversion of money into knowledge. Innovation is the conversion of knowledge into money

Innovation and Knowledge-driven Economies - Critical Tasks Critical Technological Development Tasks Areas of Critical Intervention To promote cross-border technological cooperation Joint R&D Joint commercialisation Sub-contracting To promote growth of technology-led enterprises Technology business incubators Innovation support systems Regional associations To develop effective risk financing mechanisms Business angels Venture capital High-tech stock markets To develop vibrant communities of stakeholders Cross-border Web-aided communities Local communities & networks

Number of Business Incubators (2000)

Shortening Life Cycle of Technology: Risk Financing Rapid growth and ramp-up Maturity IdeaR&DPrototype Private Investors Angel Financing Venture Capital IPO, Acquisition time revenue Debt Financing

APCTT and Innovation Management New and emerging technologies Traditional technologies Intellectual Property Rights Technology incubation High-Tech entrepreneurship development Green productivity Start-up venture creation Venture financing NATIONAL INNOVATION SYSTEM

THANK YOU

B I N A S I A National biotech policy Technology development programmes (national and international) Training programmes (national and international) Instiutions (mainly R&D) Biotech parks Biotech industries Biotech-mart –Technology offers –Technology requests –Services offered –Services requested Biotech news Biotech events Intellectual Property Rights Biosafety and bioethics