The role of networks in the commercialisation process of New Zealand MedTech Innovations in China

Abstract

In the last couple of years, China has emerged as an economy of interest for the MedTech sector, at the same time that New Zealand’s innovation efforts seem to focus in MedTech. As the innovation process evolves, organisations increased their interactions with different parties through the product development process. However, there is a lack of understanding how networks interact when organisations come from different cultures and geographies. This thesis addresses this gap and develops a framework to commercialise innovations between both countries. Through abductive reasoning, twelve participants representing twenty-one organisations related to MedTech innovations in New Zealand were interviewed. The methodology considered semi-structured interviews, participant observation, visual methodologies, and secondary data analysis. Inclusion criteria considered involvement in MedTech innovations, identification as key opinion leaders, and experience conducting business in China. Represented organisations included Universities’ Technology Transfer offices, Investment Funds, Government organisations, Centres for Research Excellence, and Start-up companies. The research aims to understand the relevance of networks and their influence in the commercialisation process, focusing in the link between New Zealand and China. Key findings were that academics are a key in establishing successful networks, as often they start collaborations with industry that lead to commercial outcomes. Trust proved to be highly relevant in this process, and the concept translates to different interactions in the industry. The presence of a hub firm has created momentum in the New Zealand MedTech sector, attracting capabilities and interest in innovation. However, lack of coordination in the commercialisation process reflects the need for an orchestrator that supports innovation beyond early-s tage. When it comes to commercialisation in China, there is disconnect between radical innovations generated in New Zealand and the incremental innovations that China is interested. Government, Guanxi, and personal trust, heavily influence the Chinese MedTech system resulting in a longer path to market. Developing academic collaborations, implementing R&D in China and accessing markets that support collaborations with a Chinese partner can support development of commercialisation success. The study adds to the knowledge of innovation networks considering a global perspective, particularly reviewing the role of personal relationships within networks, and their effects on the commercialisation process. This thesis also contributes to the analysis of interactions between organisations from different geographic locations, essential to understanding ways in which the network may reach its full potential and therefore provide economic benefits.