ZonaEXpose.com Indonesia can learn from San Francisco's success in growing into a smart and sustainable city driven by the development of world-class center for information and digital technology, biotechnology, and education.
In terms of the biotech environment in San Francisco, it is known that there are approximately 200 biotechnology companies, including Genetech, which is a pioneer for the biotechnology industry.
This was supported by investments from the city government and four real estate companies in regional infrastructure development, including investing more than $300 million in road improvements, water quality and sewerage improvements, building more than 600 residential units.
In addition, the majority of companies are engaged in health (medicines, medical devices) and 61% are engaged in Research and Development of biopharmaceuticals such as vaccines, allergy products, gene therapy.
Furthermore, the innovation ecosystem in Silicon Valley is inseparable from 4 important aspects, namely the role of companies/industry, the financing system, the role of the government, and the role of universities.
First, in role of companies and industry aspect, namely the existence of large companies as customers of start-up companies so that they support start-up companies to innovate and develop technology. Large companies are also actively conducting mergers and acquisitions of startup companies to accelerate the creation of new technological innovations, as well as the transformation of the open innovation concept applied by large companies, such as IBM.
Second, from financing system aspect, implementing venture capital financing. Funding can be obtained from mergers and acquisitions or Initial Public Offerings, besides that venture capital is divided into several stages, including seed stage funding, early stage funding, expansion stage funding, and later stage funding.
Third, in government's role aspect, the government makes specific policies for the region, such as tax relaxation. The government is also the main buyer of technology to be utilized in the aerospace, aeronautical and defense sectors. In addition, local governments facilitate the needs of transportation infrastructure and other needs.
Fourth, in role of universities aspect, San Francisco has world-class universities such as Stanford, UC Berkeley, and UCSF, the University conducts research to obtain patents and licenses.
Starting from research to encourage the creation of start-up companies. Industrial relations with universities in the form of getting access to the latest technology. Government relations with universities in the form of funding.
Monday, July, 12th 2021.
Editor : M Chaer.
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