Increase technological innovation in research & technology institutions by adopting (ITIC-VC)

Abstract

Science, Technology and Innovation (STI) are the driver to sustain economic growth and global competitiveness. Countries that have achieved remarkable economic performance are those that have invested heavily in STI particularly in R&D and technological innovations. In view of this, since 1995, Government of Malaysia (Go) through various ministries and its agencies had spent more than RM 8 billion (USD2.5 billion) on R&D, technology development and commercialisation (R&T&C) hoping that all new research findings and technology developed by public technology-based institutions including public universities could be commercialised successfully. An important aspect of innovation is that it can be commercialised. This study focused on the innovation capability oftechnology based organisation mainly on the capability to develop, transform new knowledge and technology into usable and marketable products. The objectives of this study are to gauge the readiness of public technology based organisation to deliver it roles towards innovation-based economy particularly in turning science into business; to determine the challenges and to provide appropriate solutions. A series of Elite Interviews were carried out at various levels namely top management or decision making and senior management members whom are involved in planning and monitoring. Findings from interviews indicated that many public technology-based organisations were unsuccessful translated science in business mainly due to lack of technological innovation capability (TIC), insufficient number of expertise, poor linkage and collaborations, weak innovation diffusion, lack of focus, lack of creativity and many more. Based on these feedbacks and work done by previous experts on the innovation business model, an integrated technological innovation capabilities value chain (ITIC- VC) conceptual framework was adopted and designed according to the business model of public technology based organisations which it emphasises on R&T&C and the technological innovation process.