The conversion rate of scientific and technological achievements in China is only 10%, while those of many western developed countries have reached nearly 40%. How to promote the conversion of scientific and technological achievements?

iFLYTEK proposed that three elements can be relied on to improve the conversion rate of scientific and technological achievements. The first element is capital. Corporations should be willing to invest in innovative R&D activities to avoid homogeneous competition in well-developed markets. Moreover, it is necessary to encourage corporations to participate in national R&D projects or undertake projects with national and university research institutes, in closer alignment with the principle of market-orientation. The second element is talent. Steps should be taken to encourage talent flow and optimize two-way talent flow mechanisms, thereby ensuring the supply of talent with technical and market knowledge. The third element is sharing platforms and mechanisms. A two-way communication mechanism is required to boost the conversion of scientific and technological achievements, ensuring universities are willing to share scientific and technological achievements with corporations, and corporations would like to invest more to support the research activities of universities.

Download the full report：Consolidating the Mainstay Status of Corporations in Technological Innovation