A very valuable international conference entitled "High-Quality Development: Unleashing the Power of IP" was recently organised by the Technology and Management Centre for Development (TMCD) at the University of Oxford, the Research Centre for Competitive Dynamics and Innovation Strategy at the School of Economics and Management of Tsinghua University, and OxValue.AI Limited. This event was held on April 18, 2023. 

The conference focused on in-depth discussions about intellectual property (IP) and its relation to high-quality economic development. It was attended by international scholars from the University of Oxford, Tsinghua University, the University of Surrey, the Chinese Academy of Science and Technology for Development, and industry experts from Guangdong Equity Exchange, Shanghai United Property Exchange, the Worldwide Intelligent Incubation Network (WIIN), and renowned IP consulting companies. The conference programme included two roundtable sessions that enabled moderators and panellists to engage in valuable and insightful discussions.

Professor Jizhen Li, Deputy Dean of Tsinghua University School of Economics and Management, and Mark Logan, Member of Parliament of the UK and previous member of the UK Government Science and Technology Select Committee, delivered the opening speeches and welcomed the guests and attendees to the conference. In his speech, Professor Li said that exploring how IP can promote the high-quality development of the national economy and related industries and enterprises, is in line with the need to deepen China's innovation-driven strategy and participation in international innovation. Mr. Logan MP explained the contribution of IP to the growth of the UK economy, praised Professor Xiaolan Fu's research on innovation in developing countries, and expressed his expectations for international cooperation on IP.

The first roundtable discussion was chaired by Professor Yu Xiong, Associate Vice President of the University of Surrey. Professor Fuquan Sun from the Chinese Academy of Science and Technology for Development noted that, although China currently has the highest number of patent applications and grants in the world, there was still a need to further improve the quality of IP, and increase the penalties for IP infringement in order to strengthen the protection of intellectual property rights. In addition, the government should strengthen its key role as an organizer, formulator, and supervisor in promoting the high-quality development of IP.

Professor Xiaolan Fu, Director of TMCD at the University of Oxford, emphasised that in the process of knowledge transfer and application, IP valuation is a key link to promoting IP financing and value creation, and that this is a global problem. Prof. Fu introduced OxValue.AI, a valuation tool with unique advantages that focuses on the intrinsic features of technology, uses big data and machine learning methods, and uses objective and public data to provide objective, accurate, scientific, low-cost, and rapid valuation for startups and innovation teams, investors, financial institutions, consulting firms, academic communities, and government departments. The core research of this tool won the Falling Walls award in 2021, and best paper in the European Academy of Management (EURAM) in 2017.

Peijie Li, the Vice General Manager of Guangdong Equity Exchange, based on the development of regional equity exchanges in China, suggested that regional equity exchange could play an important role in promoting the transfer and application of IP. Rachel Free and Charles Huang from the CMS law firm shared their insights, with Ms. Free noting that an objective valuation of IP helps promote the transaction and licensing of IP. Mr. Huang discussed the challenges faced by IP in the digital age, including the emergence of new technologies, new models of technology, and forms of infringement, all of which pose new challenges to the protection of IP.

The second roundtable discussion was chaired by Prof. Xiaolan Fu from the TMCD at the University of Oxford. Xing Hu, founder and Chairman of Longxing (Hangzhou) Aviation Electronics Co., Ltd., presented his perspective on the technology demands of startup companies. He believed that patent valuation tools could assist startup companies in quickly identifying and purchasing patents, thereby reducing the cost of technology transactions. Zhaoxuan Chen, President of the Oxford Suzhou Centre for Innovation and Technology Transfer, drew on his experience in technology transfer at the University of Oxford to emphasize the need for Chinese companies to strengthen their awareness of patent protection. He also suggested that governments and universities should accelerate the cultivation of technology managers to meet the needs of technology transactions, especially international technology transfer talents, to help Chinese companies improve technology transfer efficiency.

Zhenjun Yan, founder of WIIN, explained how WIIN helps accelerate technology transfer by connecting global entrepreneurial incubators, and emphasized the significant role of IP valuation tools in the actual transaction process. Fanting Yuan, President of Beijing Hycore Daohe Education Technology Co., Ltd., noted that there was a gap between China's patent applications and industrial development, and that technology transfer policies needed to be refined. Jingyao Lu, Director of Guangdong Equity Exchange, introduced the exploration of Guangdong Equity Exchange in IP financing, and how it will further promote the role of regional equity exchange in IP transactions. Wei Wu, Chief Scientist of Sixlens (Hangzhou) Technology Co., Ltd., has analysed the impact of artificial intelligence on IP management, and proposed that governments need to support and encourage the development of IP tools to help small and medium-sized enterprises innovate.

At the end of the conference Professor Xiaolan Fu and Professor Jizhen Li delivered the closing remarks and expressed their gratitude to the audience, guests, and organizing units. Professor Fu reiterated her commitment to continuing to strengthen collaborations and promote the development of IP in high-quality economic growth. Professor Li further emphasized the need for China to establish a standard system for IP valuation that is in line with international standards, and that truly connects IP with capital and the market. He looked forward to further equally successful exchanges taking place in the future.