The latest results of the National Soft Science Research Project “Research on the Cultivation of Independent Innovation Capability of Chinese Private Enterprises Based on R&D Going Global†pointed out that the R&D of private enterprises in China has the realistic possibility of “going out†and the market failure characteristics of technological research and innovation knowledge. The completeness and high-end of innovation networks in developed countries have determined that alliance cooperation, mergers and acquisitions, and social network connections are effective ways for private enterprises to “go outâ€.
The research report pointed out that innovative knowledge is the core and key factor of independent research and development capability of enterprises, but innovative knowledge has serious information asymmetry, easy diffusion, externality and uncertainty of income, which leads to the failure of the trading mechanism of innovative knowledge. Thus the way to acquire innovative knowledge must be absorbed and transferred through internal and networked methods. R&D “going out†means choosing a foreign innovation network to maximize the transfer and absorption of innovative knowledge and improve the investment efficiency and performance of R&D innovation.
According to statistics from the World Bank, developed countries such as the United States, Japan, and the European Union account for 86% of research and development investment, more than 90% of invention patents, and 98% of global technology transfer and license revenue. Moreover, R&D and innovation activities in developed countries have also formed an innovative network with multinational companies as the main body, including world-class universities, research institutions, high-end laboratories, and financial services.
The project team believes that China's private enterprise R&D can “go out†through six paths. First, it is embedded in the international innovation network in reverse, tracking the direction of international cutting-edge technology innovation. Second, the alliance cooperates with technology research and development to absorb knowledge and capabilities of technological innovation. Third, establish a foreign R&D center with sole proprietorship or equity participation, and embed an innovation network to carry out independent technological innovation. Fourth, mergers and acquisitions with world-class enterprises directly and directly access core innovation resources and capabilities. Fifth, build a diverse social network and absorb the technological spillovers generated by the innovation network. Sixth, innovation and cooperation with foreign universities to learn and acquire original knowledge and technology.
The research report pointed out that innovative knowledge is the core and key factor of independent research and development capability of enterprises, but innovative knowledge has serious information asymmetry, easy diffusion, externality and uncertainty of income, which leads to the failure of the trading mechanism of innovative knowledge. Thus the way to acquire innovative knowledge must be absorbed and transferred through internal and networked methods. R&D “going out†means choosing a foreign innovation network to maximize the transfer and absorption of innovative knowledge and improve the investment efficiency and performance of R&D innovation.
According to statistics from the World Bank, developed countries such as the United States, Japan, and the European Union account for 86% of research and development investment, more than 90% of invention patents, and 98% of global technology transfer and license revenue. Moreover, R&D and innovation activities in developed countries have also formed an innovative network with multinational companies as the main body, including world-class universities, research institutions, high-end laboratories, and financial services.
The project team believes that China's private enterprise R&D can “go out†through six paths. First, it is embedded in the international innovation network in reverse, tracking the direction of international cutting-edge technology innovation. Second, the alliance cooperates with technology research and development to absorb knowledge and capabilities of technological innovation. Third, establish a foreign R&D center with sole proprietorship or equity participation, and embed an innovation network to carry out independent technological innovation. Fourth, mergers and acquisitions with world-class enterprises directly and directly access core innovation resources and capabilities. Fifth, build a diverse social network and absorb the technological spillovers generated by the innovation network. Sixth, innovation and cooperation with foreign universities to learn and acquire original knowledge and technology.
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