Media Focus

THTI: Escape Economic Troubles by Promoting Innovation at Home and Abroad

Time:2017-06-28 09:13    Publisher:tiholding

The AnnualMeeting of the New Champions, also known as the 2017 Summer Davos is to be[Li1] opened inDalian on June 27, and over 2,000 prominent leaders from the politic, business,academic and art communities in more than 80 countries will be present and discuss how to achieve inclusive growth in thefourth industrial revolution.

Not longago, the Leaders Roundtable of the Belt and Road Forum for InternationalCooperation initiated by China was held and attracted the attendees from over100 countries and international organizations, who focused on economiccooperation and sought connectivity among participating countries.

These twoglobal events involving so many countries show that the future of the worldeconomy has become a common issue for all mankind and that it has becomeconsensus to break barriers, seek cooperation and achieve win-win results. Andthe meeting also proves that innovation has been part of such consensus. For theworld economy, innovation must be the most fundamental driving force and themost important impetus for new growth points.

The increasingdownward pressure on the world economy urges the countries to find new drivingforces for economic growth. Since the 2008 international financial crisis, manycountries, including the United States, the European Union, Japan and SouthKorea, have chosen to promote innovation and entrepreneurship as a way to escapefrom economic troubles. The United States issued an innovation strategy in2009, 2011 and 2015 respectively to promote innovation and entrepreneurship. In2014, Obama announcedJune 18 as the National Day of Making to show the support formakers and the Maker Movement. At present, the United States is the countrywith the largest Maker Space in the world, and the Maker Movement is regardedas the major carrier for the United States to revitalize manufacturing andeconomic innovation. German, through the 2020 High-tech Strategy for German,actively supports the innovation and business start-up of small and mediumenterprises, and vigorously develops emerging industries, such as environmentalprotection, health, safety, climate, resources and transportation, while the Japaneseand South Korean governments also introduce policies to stimulate innovationand facilitate developing new engines for economic growth.

Innovation, a motive force for integrative development, mutualbenefit and win-win progress, is becoming more and more important for economicand social development of the world. This can be demonstrated by the fact that massentrepreneurship and innovation, proposed by the Chinese Premier Li Keqiang,was included into the United Nations resolution this year.

Taking innovation as impetus and realizing vital reform constitutethe development concept of China's economic transition and upgrade after the18th National Congress of the Communist Party of China and also a "ChineseSolution" to current economic troubles of the world. Against the contextthat the conflicts between economic growth and population, resources andenvironment is increasingly intense, innovation, representing the spirit of unceasingexploration, will broaden the existing channels for global cooperation and openup a new path for the development of the global economy.

Then, howto promote innovation? The way is to better innovation at home and spreadinnovation abroad.

1.Bettering innovation at home by shaping the culture and establishing a platform

Innovationoriginates in the mind and means changing the mind before changing the world. Theyear 2014 marks the beginning of China’s "entrepreneurship" while theyear 2015 marks the beginning of China’s "mass entrepreneurship andinnovation". In 2017, Zhongguancun Venture Street, the first massinnovation space cluster and the frontier of innovation in China, iscelebrating its third anniversary. From "0" to "1", from"1" to "3", China's "innovation" is growingstably and strengthened as a kind of spirit.

Only undersuch circumstances can entrepreneurs understand and achieve innovation in areal sense. The construction of such a healthy, benign and sustainableinnovation ecosystem benefits from the government's guidance, innovators’consciousness and innovation incubators' assistance.

Accordingto statistics, by the end of 2016, the number of mass innovation spaces inChina had exceeded 4,000, and this figure would be much larger if the carrierssuch as science and technology parks, business blocks, business communities andincubators are included. These incubation carriers can provide entrepreneurs withdiversified elements, including space, capital, technology and talents, and platformsfor resource sharing and flow, and thus make innovation and entrepreneurshipmore accessible, economic and efficient.

In thewave of innovation and entrepreneurship, Zhongguancun, with the best service entrepreneurshipsystem, had attracted 65 unicorn companies by the end of 2016, accounting for 50%of unicorn companies in China, only second to Silicon Valley which has the mostunicorn companies in the world.

As theforerunner of science and technology services in China, THTI has established acompany jointly with Haidian Property Group to run Zhongguancun Venture Street,and created a new height of global innovation. Since the street was opened, thestreet and the agencies settled have incubated 1,900 teams (including 222overseas-returnee and foreign teams), and obtained 743 financing programs, witha success rate of 39%. The total financing amount reaches RMB 9.104 billionyuan and the average financing amount reaches RMB 12.25 million yuan. More than40 enterprises have respectively raised over RMB 100 million yuan. In addition,THTI spent more than ten years in establishing many whole-chain innovationincubation carrier systems in over 40 cities, including TIPark, TIWay, CreativeYoung Community and TIBinggo, among which there are 11 national innovationincubation carriers and more than 5,000 incubation teams.

Allinnovators must focus on improving themselves to further stimulate the potentialand vitality of innovation in China, which requires the joint efforts of thegovernment, society, enterprises and entrepreneurs. The goal of betteringinnovation services will bring new development opportunities and challenges to China'sinnovation and entrepreneurship service sector. The enterprises in this sector,tasking themselves to serve the development of enterprises and promote regionalinnovation, must help shape the innovation culture by building innovationplatforms based on the existing platforms, and enable more accurate and rapidimplementation of technology innovation in the background of explosive growth oftechnology.

2.Spreading innovation abroad by collecting resources and forces

Innovationis just like a bud which needs attention and growth, and more like a torchwhich needs to be lit and spread. Only by bringing the light of innovationtogether can the power of innovation be maximized.

In China, innovation is under vigorous development; in SiliconValley, innovation is well developed; and throughout the world, the power of innovationis emerging and growing and gradually has unique features. For the purpose of theeconomic and social development of the world, the innovation forces of allcountries shall be integrated to obtain the most valuable achievements, shareopportunities and challenges for technology innovation. This is the verysolution to economic troubles of the world, which can be proved by theinvention of steam engines in the first industrial revolution, the applicationof power in the second industrial revolution, the popularization of informationtechnology in the third industrial revolution and the development of artificialintelligence in the fourth industrial revolution.

Therefore,the implementation of the internationalization strategy is absolutelyan important part of innovation and development of all countries. The worldwill work together to boost the new industrial revolution in which all economiescan take a part and share economic development results so as to achieve"inclusive growth" proposed at the 2017 Summer Davos. For organizationsin the innovation industry of China, it is also essential to go global, collectresources and forces, spread the power of innovation abroad and in turn, takeadvantage of global innovation forces to promote the prosperity and developmentof the domestic innovation industry.

Fortunately,all Chinese enterprises in every trade are deeply aware of the importance of internationalizationand implement the “go global” strategy, including Alibaba, HUAWEI and the Tsinghuaindustry which has strong innovation strengths and innovation service systems.On the 2016 Summer Davos, Tsinghua Holdings initiated the Star-Clustering Plan, aiming to create thousands of massinnovation spaces, RMB 10 billion yuan funds and globalization channels withinthe next five years and by interaction and connection among space, capital,talents, internationalization and cooperation, cultivate more than 500 “star”enterprises with assets of over RBM 100 million yuan in the innovation andentrepreneurship sector. As a member company of Tsinghua Holdings and asci-tech innovation platform of the Tsinghua industry, THTI focuses on the domesticmarket and expands overseas resources, with an attempt to bring its ownadvantagesinto full play and cooperate withpartners at home and abroad in introducing advanced innovation ideas andexperience from Silicon Valley and other places and promoting China's advantagedexperience and market to the world. Specifically speaking, THTI has establisheda physical incubator - TIPark (Silicon Valley), built People Squared in morethan ten cities at home or abroad, including Beijing, Shanghai and Madrid, and bridgedthe outstanding scientific and technological resources and innovation talents ofChina with those of countries and regions like Hongkong, South Korea, Britain,Sweden and Australia, thus promoting the development of innovation technology andthe circulation and interaction of talents and resources. Meanwhile, THTI’sinnovation carrier system covers Xinjiang, Suzhou, Chengdu, Yiwu and many otherimportant cities along the Belt and Road, through which the power of innovationcan be spread at a global level, thus achieving mutual integration and win-winresults.

For thepurpose of progress and survival, innovation is supposed to be an eternal theme.We must be aware of its importance, and know how to stimulate its vitality,exert its potential and use its power. As the world's second largest economy,China resorts to innovation to achieve the economic development in China andbeyond, when facing the economic transition at home and the downturn pressureon the world economy. Therefore, all enterprises in the innovation servicesector should actively undertake the time-honored mission to drive the developmentof innovation technology and enterprises under the guidance of state strategies,and make contributions to the economic and social development.