The first patent auction of China Technology Exchange was successfully held on Dec 16, 2010.

When the China Technology Exchange was founded in 2009 in Zhongguancun, it was destined to have a trajectory that set it apart from thousands of other technology trading and exchange institutions across the nation.

"CTEX was founded not because China does not have a technology market nor because there is no technology exchange agency," said Guo Shugui, president of CTEX.

He said the mission of CTEX is to "make innovative attempts and seek more efficient approaches to commercializing technologies, and then promote these valuable experiences nationwide".

"On the one hand, we are pleased to see many domestically developed leading technologies come out every year and turn into products on the market," he said.

"But on the other hand, we are sorry to notice that only part of those achievements is transformed into productivity, and most of them are still left unused in the labs."

The home base of CTEX, Zhongguancun Haidian Science Park, has a strong capacity for technology R&D, with many national leading universities and research institutions. It is also a region of dynamic technology exchanges, with a contracted value of more than 90 billion yuan ($14.2 billion) last year, nearly one-fifth of the national total.

Also, as a core area of the national independent innovation center, the Haidian park features many preferential policies that encourage innovation, and it attaches great importance to the service sector.

Keeping pace with the development of local companies over the past decade, the administration of Zhongguancun also "has been improving its service and management, which meets the needs of companies", Guo said.

New approaches

Although it still has a way to go before reaching its goal, CTEX is already developing innovative techniques to commercialize technology.

Guo believes one possibility is to combine government incentives with market-oriented service.

It has introduced some trading models in the commodity market. One of its proudest innovations is the technology auction, which allows many technologies to be sold "wholesale" at one time.

The first technology auction was held in December 2010, at which 70 patents of the Institute of Computing Technology of the Chinese Academy of Sciences were auctioned, creating a total contracted value of nearly 3 million yuan.

And at the second auction in October last year, 15 technologies were sold, which were together valued at more than 1 million yuan.

Guo said CTEX has also built an online technology trading system where buyers and sellers can match up more efficiently, which is an improvement from the traditional model based on transactions between individuals without any facilitation.

The auctions are also put online so that "wherever you are, you can take part in the technology trade, and all that is required is access to the Internet", Guo said.

By cooperating with other professional financing organizations, CTEX is also attempting to promote its financial products, such as intellectual property trusts, private equity and venture capital.

Some of the successful experiences are now being promoted outside of Beijing.

zhangzhao@chinadaily.com.cn

(China Daily 09/12/2012 page12)