Promote business model innovation and product research and development in enterprises

In the context of international economic integration and the Fourth Industrial Revolution taking place strongly, business model innovation and product development have become an inevitable requirement, the "golden key" to help businesses improve their competitiveness and adapt to the market. Grasping that trend, Ninh Binh province is actively implementing many solutions to promote innovation activities, forming an ecosystem to support businesses to develop sustainably in the new era.

Checking the quality of green tea plum vinegar products at Bach Coc Youth Cooperative, Truong Thi ward.

Efforts to innovate business models and develop products

Bach Coc Youth Cooperative, Truong Thi Ward is a typical example of creative entrepreneurial spirit, constantly changing models and researching new products. Starting in 2000 with traditional green tea apricot vinegar products, initially Co Tam Agricultural Products Company Limited with a small family-based production workshop. In 2022, the Company transformed into Bach Coc Youth Cooperative and moved its address to Bach Coc ancient village to develop products associated with geographical indication protection, affirming its origin and enhancing brand value. Also during this time, from the only product of green tea apricot vinegar, Mr. Ngoc and his colleagues developed dozens of other product lines such as: green pepper vinegar, apricot honey; perilla apricot juice; Dried apricots... Not stopping there, from the Northwest wild apricots and the traditional soaking recipe, Mr. Vu Minh Ngoc, Chairman of the Board of Directors, Director of the Cooperative, has created a unique apricot wine product by combining the extraction method with the Western grape wine production formula (French balsamic line) and many other types of vinegar oil to mix with food. Mr. Ngoc said: The process of innovating my business model and developing my products all have the mark of experts, creative people that I was lucky to meet during the production process. At the National Creative Startup Competition, Dr. Nguyen Thanh My, CEO of Rynan Technologies Company, one of the judges in the competition asked the question: "I think this product is delicious, but do you think about increasing the value of the product, for example, making instant sauce packages, mixed with vegetables?". The question "touched" the idea of ​​increasing added value on the basis of traditional products, so I had the opportunity to present my idea and receive timely support. Currently, I have made some sample products such as instant dipping sauces, seafood sauces, vinegar oil sauces, etc. but the process of developing them into finished products for the market will probably take more time.

Initially just a traditional oriental medicine pharmacy, after 14 years of construction and development, up to now, PQA Pharmaceutical Joint Stock Company has had over 100 exclusive products, outstanding in the market. Ms. Vu Thi Thu Phuong, Director of the Company said: With the desire to cure and save people, from the medicine recipes passed down for many generations of the Vu Duy family, we have researched and continuously improved and developed new exclusive product lines, outstanding in the market. Up to now, the Company has been licensed by the Ministry of Health to produce and circulate nationwide over 100 products to effectively treat chronic and incurable diseases. In particular, PQA asthma products, PQA allergic rhinitis, PQA tonsillitis, PQA asthma in children, PQA milk regurgitation... bring high efficiency, are especially loved by domestic and foreign consumers. This has made PQA Pharmaceuticals one of the leading companies in the field of manufacturing traditional oriental medicine that meets GMP-WHO standards.

The journey of innovating unique business models also appears in many of the more than 600 young enterprises belonging to the Young Entrepreneurs Club and the Women Entrepreneurs Club of the province. However, according to the assessment of the authorities, although business model innovation and product development are essential requirements for enterprises, the rate of enterprises, production and business establishments proactively innovating products is still very low, accounting for less than 30% and appearing mainly in young enterprises. While the room for enterprises to innovate is very large. In particular, in the 2025-2030 term, the Provincial Party Executive Committee has identified the creative economy as a strategic breakthrough with the expectation of unleashing creative resources in the business community; developing the economy on the basis of science and technology with high knowledge content.

Connect - unleash creative resources

To concretize the goal of considering the creative economy as a strategic breakthrough, the Department of Science and Technology (DOST) has proactively implemented many solutions to support businesses in promoting innovation and creativity (ICR) through propaganda, stimulating thinking and connecting to unlock resources. In a very short time, the Department's ICR Office has built three main communication channels including Facebook, TikTok and the Ninh Binh Provincial ICR Information Portal (doimoisangtao.ninhbinh.gov.vn). These channels continuously update news on startups and ICR in the province and across the country; creating direct interaction between management agencies and businesses, promptly exchanging on support mechanisms and policies as well as practical needs in operations. In addition, many seminars and talks have been organized with the presence of leading experts to research and discuss the promotion of ICR of businesses in the province.

At the workshop “Solutions to promote business model innovation and research and product development in enterprises in the province” organized by the Department of Science and Technology in mid-September, Dr. Ngo Dac Thuan, member of the Advisory Board of the National Innovation Center, and 300 young entrepreneurs shared experiences, analyzed practices, and sought solutions to promote innovation activities in production and business. Many suggestions on innovation for enterprises were discussed such as: Innovating business models and developing products in the digital age; building culture in enterprises; trends in flexible business model transformation, digitalization and product development strategies associated with market demand... Immediately after the workshop, Dr. Ngo Dac Thuan and representatives of the Department of Science and Technology directly visited factories and production workshops of a number of enterprises such as Doanh Sinh Trade and Tourism Services Joint Stock Company, PQA Pharmaceutical Joint Stock Company, Sao Thai Duong Joint Stock Company to consult on plans to innovate business models and research and develop products.

Comrade Nguyen Toan Thang, Deputy Director of the Department of Science and Technology, emphasized: In the context of rapid globalization and digital transformation, innovation is not only a choice, but an urgent requirement for all businesses. The connection between businesses with research organizations, investment funds and state management agencies to create a "cooperative ecosystem" between entities in the innovation chain will be regularly and focusedly implemented by the Department of Science and Technology. The Department proactively signed memorandums of understanding on cooperation with components in the national and international ecosystem, connecting experts and businesses to support startups. Initially, a number of mechanisms to support innovative startups will be implemented, such as: inviting consulting experts, supporting product completion, promoting commercialization; promoting investment activities, application and technological innovation; supporting innovative startups according to Decree 80/2021/ND-CP of the Government.

Article and photos: Nguyen Huong

Source: https://baoninhbinh.org.vn/thuc-day-doi-moi-mo-hinh-kinh-doanh-va-nghien-cuu-phat-trien-san-pham-trong-doa-251103183113322.html