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Accelerating Technology Development: Engaging Stakeholders and International Networking
Article Number: SIS284965AI281222
28th December, 2022
Author(s):
Mohammed Ali Berawi
Abstract:
Innovation has a central role in technology development. It is produced everywhere and enriched by local wisdom for problem solving in particular regions to further increase human wellbeing. Technology development thus becomes a dynamic system of relationships among various stakeholders, and it requires a collaborative and mutual partnership. Technology partnerships become a network model that is formed by stakeholders who share linked knowledge, activities, and resources, which lead to future strategic options and alternative product solutions that are efficient, effective, and sustainable. Technology results from inventors and researchers in various laboratories and companies translating ideas into prototypes, which can then serve various needs and purposes through transformation into value added products and/or projects. Technology transfer is conducted firstly via provider collaboration and secondly to customers. Both the governments and private investors that provide financial support to fund technology development and transfer make significant contributions by supporting development strategies and policies as well as creating sufficient market incentives.