Risk Management for Open-Innovation-Based Idea Realization Platform of Medical Devices

Abstract

Recently the korean healthcare industry has been growing rapidly due to ageing population and its ever-growing concern about well-being. The global competitiveness of korean medical device industry is however relatively mediocre compared to that of other domestic industries. To remedy such an undesirable situation, the korean government has supported, since 2010, the project of establishing intermediator platforms which collect viable ideas from the medical care providers, develop working mock-ups or prototypes from these ideas and license these technologies out to the manufacturers who want to commercialize them. The purpose of this study is to analyze the risks which can cause the failure of such an open-innovation-based idea realization platform and derive some useful guidelines for their effective management. More precisely, we analyze the objectives of the platform, identify typical sources of failure that make the fulfillment of these objectives difficult, and select and evaluate major risk factors which contribute to each failure source. The analysis is based on the results of the structured interview with the supervising director of the idea realization center, the one first started in 2010, and the results of the questionnaire survey conducted on the experts who participated in several parts of the idea realization process in that organization. The results show that 'a weak network among idea sources' and 'an inappropriate compensation system for realized ideas' are the most important risk factors, together with 'an insufficient development capacity' and 'the risk of failure to find interested buyers for the secured technology rights'. Thorough understanding of those risk factors and appropriate decisions on the response measures, and their continuous monitoring, would be essential part of risk management for an open-innovation-based medical device idea realization platform.

Construction of Innovation and Entrepreneurship Platform Based on Deep Learning Algorithm

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