Consortium-Mediated New Business Development in SMEs

Abstract

There are over 3.8 million small and medium enterprises (SMEs) in our country, which is the foundation of sustainable growth and local economy. In order to achieve diverse and vigorous growth and development, it is essential to advance into new business areas and to actively enter advanced science and technology fields. In the present research, we observed a consortium that had been formed in the field of regenerative medicine and managed to promote cooperation between industry, academia and government, considering its significance and utility of entering different industries and business development, in particular, the expansion of cooperative opportunities of SMEs. As a result, we found that a well-designed consortium offers opportunities to collaborate with all universities and public research institutes through optimisation efforts of organisational design and university involvement, and that it is an effective way of forming credit and its contribution to SMEs.