Regulations in public asset management and lack of technology valuation methods are making the spin-off business model fall short of expectations to promote the commercialization of university technology.
The policy of forming enterprises originating from science and technology organizations (spin-offs) promises many contributions in commercializing research results. However, "currently, legal policies still have barriers that lead to the supply and demand sides meeting but cannot bring research results to the market," said Mr. Pham Duc Nghiem, Deputy Director of the Department of Science and Technology Enterprise and Market Development, Ministry of Science and Technology , at the seminar on June 27.
Mr. Pham Duc Nghiem spoke at the seminar "The role of enterprises originating from science and technology organizations (spin-offs) in commercializing research results". Photo: NQ
Presenting the reality at the Vietnam Academy of Agriculture , Associate Professor Dr. Nguyen Viet Long, Deputy Director of the Center for Agricultural Innovation, said that the Academy has developed a project to develop technology-based enterprises to transfer research on plant and animal breeds. In 2007, a rice variety worth one million USD was transferred. However, currently, the development of spin-off enterprises is facing difficulties due to problems with regulations on public asset management, especially with the topic of using the state budget.
Dr. Vu Tuan Anh, Deputy Head of the Department of Science and Technology, Hanoi National University, further clarified that the method of pricing based on the market and pricing based on technology application expectations are both not feasible, and no organization dares to price because of legal risks. For example, a State-supported project worth 1.5 billion VND was valued at 1.5 billion VND after completion. "Is it possible that all the time and effort of the scientists and the organization in charge of the project would be worth zero after several years of research?", he said, adding that this would distort the market. The National University refuses the method of pricing based on the amount of money the State supports the project.
Another difficulty raised by Associate Professor Dr. Le Nguyen Doan Khoi, Can Tho University, is that the Law on Management and Use of Public Assets stipulates that the right to use and ownership be assigned to the organization in charge of performing the task. This is a factor that makes it difficult to promote results. "Lecturers do not want to do research, spend a lot of time teaching, do not invest in research and the motivation for research is no longer there," he said. Difficulties in the lack of technology valuation methods make transfer contracts unable to reflect their true value.
According to Dr. Le Tat Thanh, Deputy Director of the Institute of Genome Research, Vietnam Academy of Science and Technology, technology transfer and commercialization activities, which were already weak, are now slowing down, and some places have stopped transferring altogether because they are afraid of legal risks, especially the Law on Public Property. Transfer activities are also facing difficulties because it is impossible to transfer technology and make a profit immediately.
Dr. Le Duc Thanh discusses at the seminar. Photo: Dinh Thang
At the seminar, experts proposed removing bottlenecks and policy limitations to transfer technology in an official manner.
Dr. Nguyen Trung Dung, CEO of BK Holdings, said that universities can choose suitable models to transfer technology and bring intellectual property to the market. Scientists can contribute as technology CTOs to help transfer results while still retaining scientists in a leading role.
Associate Professor Khoi said that, in addition to simplifying procedures, it is necessary to apply the mechanism of ordering, contracting research products, funding for project implementation, and increasing the budget expenditure ratio for commercialization activities. In addition, there should be policies and mechanisms to link the four parties, supporting localities or businesses to build and promote brands of strong products.
Mr. Pham Duc Nghiem said that the Ministry of Science and Technology is coordinating with the Ministry of Finance to supplement and adjust the regulations of Decree 70 guiding the management of assets formed from scientific tasks. "This is the time to have new policies to develop the science and technology market, including supporting the formation of spin-off enterprises," he said.
Nhu Quynh
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