Technological Entrepreneurship in China

Technological Entrepreneurship in China

How Does it Work?

Edited by Claudio Petti

Bringing technologies to the market, thereby creating profits, high-qualified jobs and industrial upgrading is one of the means by which China can fuel its brand new growth model based on innovation and sustainability. Much is known about the mechanisms of technological entrepreneurship. But how does this happen in China? Who is doing what? Is there a ‘Chinese way’ to do technological entrepreneurship? This thought-provoking book provides readers with a closer look at these issues and clarifies them through a number of case studies discussed from the perspectives of both Chinese and international contributors.

Foreword

Edited by Claudio Petti

Subjects: asian studies, asian business, business and management, asia business, entrepreneurship, international business, organisational innovation, innovation and technology, innovation policy, organisational innovation

Extract

Innovation, new discoveries and technologies are widely recognized as the engine of societal well-being and progress. Despite the global financial crisis and high levels of unemployment in many parts of the world, research, innovation and science are seen as even more fundamentally important in fostering smart, sustainable and inclusive growth. Indeed, the European Union set this out in its Europe 2020 strategy and within it, the Innovation Union flagship initiative. Development and growth are not simply an immediate and systematic result of technological research and development. Entrepreneurial efforts are required to identify and exploit new products or services that reward the stakeholders in terms of benefits and profitability. Such technological entrepreneurship depends on people, as well as on the right mix of specific institutional and environmental conditions to incentivize entrepreneurs to innovate. Innovation takes place in different forms everywhere in the world – in industrialized, emerging, and developing economies. China is keen to foster innovation for the development of the economy and society, and has attracted international interest as its R&D budgets continue to soar. China hopes to transform its growth from a model based on low valueadded manufacturing to one that is increasingly centred on domestic, high-end, business sector-led innovation, as described in its 12th FiveYear Plan. Over time this has led to the emergence in China of strong global companies in advanced sectors – such as information technology, telecommunications and renewable energy. Current academic views range from the possibility to extend, expand or even redefine current management theories, a...