Creating a landscape to foster innovation collaboration

Recently, a friend of mine, a scientist from a top global university, called to discuss a business idea. He and a team of talented scientists are developing a groundbreaking AI-driven health monitoring device and have published in leading scientific journals.

Now, they're ready to take the initiative forward but face a tough decision: proceed in the United States, return to China, or operate in both countries simultaneously.

The core challenge is how to bring the product to market quickly. To achieve this, they need extensive patient and user studies, real-world trials, and additional financial support. Crucially, they must collaborate with regulators and partners along the supply chain to avoid obstacles in product iteration and promotion.

This real-life example highlights a top priority for Shanghai: collaboration in fostering innovation. At the upcoming International Business Leaders' Advisory Council meeting in September, global executives will discuss how to address the urgent need for increased international cooperation in science and technology through resource integration and knowledge sharing.

The key is to reshaping the roles of the government and enterprises. How should the government empower enterprises? How can enterprises drive innovation and business development with government support? How can we ensure that enterprises secure sufficient funding and high-skill talent for innovation? This goes beyond merely holding briefings to present policies to enterprises.

Government departments must take responsibility. It's not enough for top district leaders to recognize the importance of an innovation ecosystem; departments at all levels must also embrace learning and be allowed the space for "trial and error," quickly and flexibly adjusting policy implementation.

Shanghai hosts numerous high-tech companies and manufacturing enterprises, both domestic and international, providing a solid industrial foundation for technological innovation and the commercialization of new achievements.

However, insufficient collaboration between the government and enterprises can hinder resource mobilization, leading to challenges and inefficiencies in incubating startups and small tech enterprises.

The government should fully leverage its coordinating role by establishing new innovation platforms and organizing themed events to foster enterprise cooperation. Additionally, policies should support the timely commercialization of innovations, enabling tech startups to quickly benefit from their breakthroughs.

Fortunately, my friend found a local institution to conduct product research. With support from the local government, he also established a health technology company in Shanghai to ensure that product research and market applications proceed simultaneously in the United States and China.

"Now, the interesting part is seeing where we can move faster, in the United States or China," he said. "We believe this concurrent approach will complement our efforts in both countries. Ultimately, the goal is to ensure that technological innovation benefits people as quickly as possible."

The author, formerly with Shanghai Daily, is an adjunct research fellow at the Center for Global Public Opinion of China, Shanghai International Studies University, and founding partner of 3am Consulting, a specialist in global communications.